Netflix slashes prices in over 30 countries, but it won't help the password sharing woes

Date:
Fri, 24 Feb 2023 13:52:56 +0000

Description:
Streaming giant reduces subscription fees up to 50% in attempt to attract
more subscribers.

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With the worldwide cost of living crisis continuing to bite, and the
streaming wars showing no sign of abating, Netflix has moved tolower its pricing in over 30 separate countries, according to a report in the Wall Street Journal .

The discounts have been rolled out this week in primarilylower-income regions inAsia, Europe, Latin America, sub-Saharan Africa and the Middle East where subscription uptake is currently comparatively low.

Countries that have seen subscription price drops, which range from between 20% and 60%include Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador,
Venezuela, Malaysia, Indonesia, Vietnam, Thailand, the Philippines, Egypt, Yemen, Jordan, Libya, Iran, and Kenya.

Theres currently no indication that similar price drops will be offered in established regions like the US, UK and Australia.

Were always exploring ways to improve our members experience, Netflix said Thursday in a statement. We can confirm that we are updating the pricing of our plans in certain countries.

The move comes as Netflix faces increased competition from rival services, while also rolling out the unpopular move of introducing password-sharing limits .

Acknowledging the increased competition from rival services such as Disney Plus , Apple TV Plus and Paramount Plus , a Netflix spokesperson told the BBC : "Members have never had more choices when it comes to entertainment".
(Image credit: Future / Netflix) Analysis: Netflix is about to have a
problem, and these price cuts won't help

The March deadline is fast coming into view for the long-expected (and much-hated ) end of password sharing for many Netflix viewers, and yesterdays won't mitigate the disappointment of those no longer able to piggy-back on their family or friends accounts.

It's clear these discounts are primarily being used to encourage new subscribers in emerging Netflix territories, meaning its unlikely the price drops are set to benefit the majority of people affected by the up-coming
rule change.

From its efforts to direct new customers towards its full-fat subscriptions rather than its cheaper ad-supported tiers, to its controversial culling of high-profile shows such as 1899 or Warrior Nun , its clear that 2023 is very much about growing revenue for Netflix, even if it means losing some
eyeballs.

The companysend of 2022 financials saw an increase to its subscriber base of 7.66 million, but with the upcoming password culling about to take affect a risky move which notably hasnt yet been adopted by rivals like Disney Plus
and Hulu it remains to be seen if the streaming service has made the right call.

After taking away the flexibility of password sharing (something the company encouraged at times in the past ), a price cut in the countries where it's blocking this feature might've helped stem the tide of anger. But that's not what's happening.

If youve decided that your time with streaming giant is about to come to an end, make sure to check out our best Netflix show list before your subscription gets cancelled, and also cast your eye over our picks for the best streaming services to see if theres an alternative that floats your boat.



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Link to news story: https://www.techradar.com/news/netflix-slashes-prices-in-over-30-countries-but -it-wont-help-the-password-sharing-woes


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