Netflix Subscription Cost: Netflix cuts subscription cost in more than 30 countries: report |
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Netflix Subscription Cost: Netflix cuts subscription cost in more than 30 countries: report
 Streaming platform Netflix has reduced the subscription cost in more than 30 countries in recent weeks as it tries to gain more customers, according to a Wall Street Journal report.The company’s recent price cut spans the Middle-eastern countries, including Yemen, Jordan, Libya and Iran; sub-Saharan African markets, including Kenya; and European countries Croatia, Slovenia and Bulgaria. In Latin America, Nicaragua, Ecuador, and Venezuela, among others, have seen a reduction in subscription costs, as have Malaysia, Indonesia, Thailand and the Philippines in Asia, the report said. Netflix has in some cases reduced the price of subscriptions by up to 50%.The move follows co-chief executive Greg Peters' remarks in January earnings call that the company was looking for places where they can afford to raise prices. Netflix also had an opportunity to add new subscribers in markets where it doesn’t currently have a large share, he had said. Discover the stories of your interest Blockchain5 Stories  Cyber-safety7 Stories  Fintech9 Stories  E-comm9 Stories  ML8 Stories  Edtech6 Stories  The company added subscribers in each of the four regions for which it reports results in the final quarter of 2022, but its global average revenue per user declined to $11.49 in the final quarter of 2022, from $11.74 a year earlier, according to the report.Netflix has lowered the price of its service in the past, particularly when it faced tough competition or wanted to add users faster. It slashed the price of subscriptions in India in 2021 by 18-60%. Netflix's viewing engagement in India grew by 30% and revenue went up by 25% last year, co-CEO Ted Sarandos said recently. The company also plans to crack down on password sharing for accounts on its streaming platform, including setting up a primary location and paying a couple of dollars for an extra member. The video-streaming giant, which has estimated that 100 million around the world use a shared account, said members can now easily manage who has access to their account, transfer their profile to a new account and still easily watch Netflix on their personal devices or log into a new TV. The company had lost subscribers in the first half of 2022 amid stiff competition from rivals, prompting it to look more seriously into password sharing and launching an ad-supported plan. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here!   Thursday, 23 Feb, 2023Experience Your Economic Times Newspaper, The Digital Way!Read Complete Print Edition »Front PagePure PoliticsCompaniesEconomyMore India Can Grow at 8%; Time Right to Draw InvestmentIndia faced challenges during the Covid-19 pandemic but has recovered “strongly” and can achieve 8% growth through a stronger private sector, land and agriculture reforms, and ensuring credit gets to small enterprises, among others, said David Malpass, president of the World Bank.  Looking for Right Match, Match Swipes Right on Shaadi.comIn an interview to a business daily in September last year, Mittal had said the company was planning to go public in the next fiscal year. Mittal is the founder and CEO of People Group, which runs the matchmaking site.  PE ChrysCapital Eyes $100-million Funding in LenskartPrivate equity fund ChrysCapital is in talks to invest around $100 million (₹828 crore) in omni-channel eyewear retailer Lenskart, people aware of the matter said. Read More News onNetflix Subscription Costnetflix indiated sarandosgreg petersNetflix SubscriptionnetflixStay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox....morelessETPrime stories of the day MarketsYuan internationalisation sees significant progress in 2022. Can it maintain the momentum? 10 mins readStrategyStock Radar: Down 30% from highs! This specialty chemical company may see a rebound from support levels 3 mins readTelecomNo 5G service, lack of fresh funds could further hurt Vodafone Idea even as Airtel, Jio leap ahead 10 mins read |
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