Yahoo Finance Netflix reduces prices in a range of countries
Netflix has cut prices across a range of countries.
It appears to be just the latest attempt from the company to get more subscribers – and keep those it already has. The company reported its biggest ever loss of subscribers last summer, though it appears to be turning that reduction around.
And it comes as most streaming services, including Netflix itself, have introduced sometimes significant price rises in recent years.
A range of countries, across the world, will see their prices drop. Some monthly subscriptions appear to have been reduced by as much as half.
They include Thailand, Croatia, Venezuela and others. Netflix did not indicate that prices would fall in the UK or US.
The company’s share price fell as it announced the changes.
Netflix’s price drop comes around the same time as it launches a new crackdown on password sharing, through which it hopes to encourage users on shared accounts to pay for their own login.
That will use a variety of different tools to spot when an account is being shared, and tell users that they must instead subscribe to their own account instead.
It has also introduced a new, cheaper ad-supported service, aimed at gaining subscribers who may refuse to pay for its full service.
All of those initiatives appear to be aimed at encouraging more users to join and stick with Netflix, which is facing increased competition from new rival services such as Disney+.
Even with those changes, however, Netflix has struggled to ensure that users stay on the service. It said that it lost almost a million subscribers in summer last year, and has sacked hundreds of employees.
