BIG news for Netflix users! Prices drop in over 30 countries

Amid discussions of rising prices for subscriptions, Netflix has great news for its fans who can now enjoy their favourite shows and movies at a much more affordable rate than before. As per The Wall Street Journal, Netflix has decreased its subscription prices in over 30 countries in an effort to attract customers worldwide. However, the new low cost for the subscription will vary from country to country.

A Netflix spokesperson told The Wall Street Journal that “We know members have never had more choices when it comes to entertainment,” and as a result, the company is dedicated to providing an experience that goes beyond their expectations. The spokesperson added that the company is adjusting the pricing of plans in certain countries.

The price drop of Netflix subscription plans spans Middle Eastern countries which include Yemen, Jordan, Libya, and Iran; sub-Saharan African markets such as Kenya; and European countries including Croatia, Slovenia, and Bulgaria. Countries such as Nicaragua, Ecuador, and Venezuela in Latin America, as well as regions in Asia such as Malaysia, Indonesia, Thailand, and the Philippines, have witnessed a decline in subscription prices, the report added.

Netflix Malaysia even took to its Twitter account to announce the good news to their customers, "Starting today, our Basic Plan in Malaysia is now RM28 per month for both new and existing members.” Earlier, Netflix used to charge RM35 per month for the basic plan. This means it constitutes a 20 percent price drop in Malaysia. Sadly, India is not on the list of the latest subscription price cut.

This is not the first time! Netflix has reduced the cost of its subscription. It does so particularly during times of intense competition or when it is looking to increase its user base quickly. For instance, in 2021, the company lowered the subscription fee in India after initially targeting affluent users with expensive plans.

On the other hand, Earlier this month, Netflix implemented new sharing limitations in countries like Canada and Spain, with plans to introduce these changes more widely in the coming months.