Netflix cuts prices for subscribers in over 30 countries

  • Annabelle Liang
  • business reporter

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Streaming giant Netflix has cut prices in more than 30 countries in an attempt to attract more subscribers.

Prices were reduced in parts of Asia, Europe, Latin America, Sub-Saharan Africa and the Middle East.

That’s as rising costs of living cause households to tighten their belts and Netflix faces increasing competition from competing services.

A company spokesperson told the BBC: “Members have more options than ever when it comes to entertainment.

Countries with reduced subscription prices include Malaysia, Indonesia, Thailand, Philippines, Croatia, Venezuela, Kenya and Iran.

Discounts apply to certain rate plans, in some cases halving the subscription fee.

The company has not named the UK or the US as countries that have lowered prices.

A Netflix spokesperson said, “We are always looking for ways to improve the experience for our members. We can confirm that we are updating plan pricing in certain countries.”

With operations in more than 190 countries, Netflix faces increasing competition from streaming rivals such as Amazon, HBO and Disney.

The company cut hundreds of jobs and launched cheaper, ad-supported streaming options last year as it fought to gain more share in the increasingly competitive streaming market.

In January, Netflix co-CEO Greg Peters outlined ways to attract more subscribers.

“As we strive to serve more members around the world and offer the right value at different price points, we want to expand our reach even further,” Peters said.

The company also cracks down on people sharing subscriptions.

Last summer, Netflix revealed that it lost nearly a million subscribers between April and the end of June as more people decided to quit the service.

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