Global streaming service Netflix has announced that it will be cutting its subscription prices across 30 countries worldwide as it battles a dramatic fall in users over the past year.
The Californian firm has resorted to increasingly desperate measures to win back subscribers after a dire 2022, in which it was forced to cut hundreds of jobs and launch a cheaper, ad-supported tier in a bid to remain competitive.
Customers across Asia, Europe, Latin America, sub-Saharan Africa and the Middle East will now see the cost of their subscription fall, with certain price plans even seeing a significant 50% cut.
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The media giant named Malaysia, Indonesia, Thailand, the Philippines, Croatia, Venezuela, Kenya and Iran as countries that would see prices fall – it gave no indication however that this would be the case in either the United States or the UK.
Having announced a crackdown on users’ ability to share accounts, the platform revealed that it had lost close to a million subscribers over spring and summer last year – although these numbers had since risen again.
On attracting new subscribers, co-chief executive Greg Peter told the BBC in January that “[Netflix] wants to make that spectrum even wider as we seek to serve more members around the world and trying to deliver appropriate value at those different price points.”
