Netflix cuts prices in some markets to lure more subscribers
Netflix is cutting its prices in several of its smaller markets in the latest twist on the video streaming service’s efforts to keep its recently revived subscriber growth rolling amid stiffer competition and inflation pressures that are pushing more households to curb their discretionary spending.affect more than 30 of the roughly 190 countries where Netflix’s steaming service is available — an expanse that has enabled the company to attract nearly 231 million subscribers.
Although Netflix has established itself as the largest video streaming service, it has been vying for viewers with other deep-pocketed rivals that include Apple, Amazon and Walt Disney Co. at the same time stubbornly high inflation is causing more people to tighten their budgets. Netflix’s new co-CEO Greg Peters hinted last month during a quarterly conference call that the company was examining ways to attract more subscribers in its smaller markets, although he didn’t say anything specifically about using lower prices as a lure. “There’s a bunch of people around the world in countries where we’re not deeply penetrated, and we have more opportunity to go attract them,” Peters said.
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