Last month, Netflix executives told investors that reducing subscription prices were out of the question. In a January earnings call, co-Chief Executive Greg Peters hinted the company might raise prices in regions where consumers can afford the streaming service. But in the last week, first reported by Cord Cutters News and now The Wall Street Journal, the streaming giant slashed subscription prices in over 30 countries.
In what appears to be a rare move, Netflix reduced prices across Middle Eastern countries, including Iran, Jordan, Yemen, and Libya; sub-Saharan African markets, including Kenya; and European countries, such as Bulgaria, Croatia, and Slovenia.
In Central and South America, Nicaragua, Ecuador, and Venezuela have seen reductions in subscription costs. In Asia, Malaysia, Indonesia, Thailand, and the Philippines have also seen reductions.
Cord Cutters News provided an example of the price drops in the Balkans. They said: “Netflix now charges 4.99 EUR for its basic plan, down from 7.99. The standard plan now costs 7.99, down from 9.99 EUR. The Premium plan costs 9.99, down from 11.99 EUR.”