Netflix is reducing its prices in more than 100 countries at a time when other streaming services are increasing them.
Netflix has reduced the price of its video streaming service in more than 100 countries, with some discounts being absolutely huge. In fact, in some instances, Netflix subscribers will pay 60% less than before.
The range of Netflix discounts varies, of course, and reports suggest that anything between 20% and 60% has been slashed off the price that subscribers previously paid.
An Ampere Analysis report, picked up by TechCrunch, claims that the price drops could help more than 4% of the entire Netflix subscriber base. That works out at more than 10 million people, it seems. Countries currently seeing discounts as of this writing include Egypt, Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Vietnam, Thailand, and the Philippines,
It’s fair to say that Netflix’s decision to slash prices is an unexpected one, given the fact that it is already starting to prevent password sharing in an attempt to rake in more money. Other competing streamers are also increasing their prices right now, while Netflix itself isn’t beyond hiking prices in an attempt to raise cash. But this new change is a positive one, especially for those 10 million subscribers that now have more money in their pockets as a result.
In a statement provided to the Wall Street Journal, Netflix suggested that competition is indeed behind the price drops. “We know members have never had more choices when it comes to entertainment,” a Netflix spokesperson reportedly said.
It isn’t immediately clear whether this is the end of the price drops or if more countries will follow those that already pay less, however. There are notable countries missing from the list, including the United States and the United Kingdom, not to mention Europe’s big players.