The streaming giant said the price reductions it has implemented in over 30 countries were part of its effort to make its services more affordable.
Netflix, the world's largest streaming service, has recently reduced subscription prices in over 30 countries worldwide. The cuts vary in size, ranging from 20% in Malaysia to an undisclosed amount in other countries. Netflix said the changes were part of its efforts to make its services more affordable. The company’s fourth quarter results showed a 1.9% year-over-year increase in revenue, reaching $7.85 billion, while its net income narrowed to $55 million. The subscription price reductions have rolled out across the Middle Eastern, sub-Saharan African, European, Latin American and Asian regions, and in total, more than 190 countries currently have Netflix available. The U.S. does not appear to have seen any changes to its subscription plans, which remain at $6.99 per month for the ad-supported tier, $9.99 per month for the basic tier, $15.49 per month for the standard tier and $19.99 per month for premium.