Netflix lowers prices in select regions

Netflix recently announced price cuts in more than 30 countries in the Middle East, Europe, and sub-Saharan Africa to maintain its subscriber growth. The move is not applicable to its larger markets, such as the U.S and Canada, which saw a 9% increase in revenue last year due to price increases. Netflix is also clamping down on password sharing in order to attract more subscribers. The company's co-CEO commented on the move during a conference call, saying that there are many people around the world in countries where the service is not deeply penetrated, and that there is more opportunity to attract them.

The streaming giant is hoping to capitalize on its recent subscriber growth in the second half of last year by offering price cuts in smaller markets. Netflix is aiming to maintain its subscriber growth, as well as increase its profits by clamping down on password sharing and increasing prices in larger markets. It remains to be seen how successful the company will be in its efforts, but for now, it is a move that could potentially benefit both the company and its customers.


More from Press Rundown