Netflix is lowering the price of its subscription in over three dozen countries, except for the US, Canada, and the majority of Europe, according to a report from The Wall Street Journal. These reductions reportedly only affect specific Netflix tiers but sometimes cut the price of the subscription in half.
Netflix spokesperson Kumiko Hidaka confirmed that the company’s “updating” the pricing of its plans in “certain countries” but didn’t specify which ones. As noted by the Journal, some of the countries expected to receive price cuts include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Malaysia, Indonesia, Thailand, and the Philippines. However, an earlier report from Cord Cutters News indicates that the cuts also apply to Bosnia, Herzegovina, Serbia, Albania, North Macedonia, and Slovakia.
This comes just weeks after Netflix announced its plans to make more money off of password-sharing subscribers in Canada, New Zealand, Portugal, and Spain. Under the new rules, subscribers are expected to pay extra for anyone using their subscription who lives outside of their “primary” household.
Netflix co-CEO Greg Peters hinted at these potential price changes during the company’s earnings call in January. “We seek to serve more members around the world in trying to deliver appropriate value at those different price points, and we’re doing a good job expanding that range,” Peters said. “There’s a bunch of people around the world in countries where we’re not deeply penetrated, and we have more opportunities to go attract them.”
In the 16 years that Netflix has offered its streaming service, it’s become exceptionally rare for the service to lower its prices. The company introduced a price hike for subscribers in the US and Canada in January and later added a cheaper $6.99 per month ad-supported plan in November. Other streaming services, including Paramount Plus, HBO Max, Disney Plus, and Hulu, have also opted to increase their prices within the past year.