Netflix announced today that it was lowering the price of its subscriptions in over 100 countries (via Bloomberg). The price drops are happening in smaller markets such as Egypt, Iran, Croatia, Bulgaria, Ecuador, Venezuela, Indonesia, and Thailand, leaving the US and other bigger territories untouched.
“We’re always exploring ways to improve our members’ experience. We can confirm that we are updating the pricing of our plans in certain countries,” Netflix said in a statement today.
According to research from Ampere Analysis, the price drops should affect over 10 million Netflix subscribers across the globe. However, the price cuts will be different across countries: As an example, discounts for Netflix’s basic tier will vary from 20% to almost 60% in some markets.
It’s pretty rare for subscription services like Netflix to cut prices, especially when investing in quality original content is becoming a priority to compete with Disney+ and other streaming services. However, Ampere Analytics emphasized that the price cuts won’t affect all tiers the same way across countries where Netflix is lowering its prices. As an example, Netflix’s mobile tier won’t be discounted in India, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Pakistan, and Nigeria.
It’s worth pointing out that Netflix is cutting subscription prices in some markets right when it’s about to start cracking down on password sharing. For now, the new rules are only live in Canada, New Zealand, Portugal, and Spain, but Netflix plans to roll out password-sharing restrictions to other countries in the coming months.