Netflix cuts subscription prices in more than 30 countries – Punch Newspapers

PUNCH

Netflix has slashed subscription rates in more than 30 countries across Asia, Europe, Latin America, sub-Saharan Africa and the Middle East.

The streaming giant announced the decision on Thursday as it attempts to attract more subscribers amid stiff competition and strained consumer spending.

Netflix had in recent times reduced prices in India and some parts of South-East Asia following a decline in growth; Thursday’s decision only affects countries that account for a small fraction of its customer base.

Subscription charges have been lowered in Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Thailand and the Philippines, amongst others.

The cuts apply to certain price plans, with subscription charges falling by half in some cases.