Netflix Reduced the Cost of Its Service
More than three dozen countries will enjoy a reduced cost of Netflix service. The company tries to attract more customers around the world, especially those with a growing list of streaming options.
The price cuts include Middle Eastern countries, sub-Saharan African markets, and European countries. Latin America and some parts of Asia will also get a reduced price.
However, the reduction applies to some tiers of Netflix in those countries.
Major streaming services are spending money to provide their customers with the value their consumers deserve. Several of them have raised prices in the US.
Thus, it is surprising to hear that Netflix is reducing its prices. However, analysts are saying that the cuts are substantial.
Last month, the company’s executives discussed raising prices and not lowering them. During its January earnings call, Netflix is searching for places where they can raise prices but they need to continue investing in content.
The reduction in its prices will also give Netflix the opportunity to add new subscribers in markets where its share is insignificant.
Netflix is working on cutting costs and making strategic shifts.
Recently, it has implemented its ad-supported plan. For many years, the company doesn’t just want to show ads in its content. But it wants to do so in a hurry.
Then, it now requires subscribers to pay more if they wish to share their accounts with someone who lives outside of their household.
High inflation is forcing people to budget their money and only spend it on necessities. With the cracking down on password-sharing, people will have to decide whether to spend extra per year to let other people use their accounts.
Earlier this month, Netflix rolled out new sharing restrictions for subscribers in Canada and Spain. The company said that it will soon introduce the changes more broadly in the coming months.
Enforcing the sharing limits will not be popular. It may even cause people to cancel their accounts. But the company is hoping it will not lose more customers by providing them with hit content.
If you don’t live in those countries where Netflix has cut subscription prices but you’re hit with the crackdown on password sharing, you may look for cheaper live TV streaming services.
One of the cheapest streaming services that can be a good alternative to Netflix is Peacock. The cheapest price it offers is $4.99 a month with ads. Hulu offers its services at $6.99 a month. It has loads of bundles, ranging from live TV to SHOWTIME or STARZ.
If you’re an Amazon Prime subscriber, you may have a decent alternative to Netlifx — Amazon Prime Video. It’s included in your Prime Membership. But if you’re not a Prime subscriber, you can access a ton of content by purchasing a standalone Prime Video subscription. Its video-only sub is cheaper than Netflix’s basic plan.
Now, if you don’t want to pay, you may use your local library. As long as you have your handy library card, you can access Canopy apps that will unlock access to stream TV shows, music, and movies.