Netflix has decreased its subscription costs in over 100 territories, including Egypt, Jordan, Libya, Croatia, Venezuela, Malaysia, and the Philippines. The discounts for the basic tier range between 20% and 60%, affecting over 10 million of Netflix’s subscribers.
The move is surprising, given the recent industry trend of increasing prices. It’s possible that Netflix is lowering prices to redeem itself after receiving criticism for rolling out password-sharing rules in several countries, which sparked a wave of complaints across social media.
Additionally, with recent increases in subscription prices from Netflix’s competitors, such as Paramount+, Apple TV+, Disney+, and Hulu, Netflix may be trying to stay competitive.
This isn’t the first time Netflix has lowered its prices, as it did so in India in 2021. Netflix aims to continue delivering an experience that exceeds its members’ expectations.