When the waters still did not settle due to the commotion generated by its crackdown on password sharing, Netflix announced the next step in its business strategy.
The reduction of the prices of its subscriptions in more than 30 countries, including several in Latin America.
the giant of streaming He justified the decision in order to attract more people to the platform, but for many analysts what he is trying to do is avoid a massive flight of subscribers.
On the one hand, due to the high cost of living and, on the other, due to the fierce competition in the market.
In addition to countries like Bolivia, Cuba, Dominican Republic, Ecuador, The Savior, Guatemala, Honduras, Nicaragua, Panama, Paraguay and Venezuelasales have also been seen in Asia, Europe, Sub-Saharan Africa and the Middle East.
“Users have never had so many entertainment options,” a company spokesperson told the BBC.
Cuts apply to certain pricing plans, and in some cases as much as between 40% and 50%.
“We are always exploring ways to improve the experience for our users,” added their spokesperson.
Shares of the company closed Thursday down 3.4% in New York after the Wall Street Journal first reported the news.
Netflix, which operates in more than 190 countries, has faced increasing competition from rivals such as Amazon, HBO and Disney.
Last year the company cut hundreds of jobs and launched a cheaper option with ads as it struggles to increase its share in the increasingly competitive market for streaming.
In January, Netflix co-CEO Greg Peters explained how he planned to attract more users.
“We want to further expand the range to serve more members around the world and try to offer the right value at different prices,” Peters said.
All in the midst of his offensive against those who share his subscriptions.
In early February, Netflix introduced password sharing limits in several countriesforcing users to pay an additional fee if they want friends and family who do not live with them to benefit from their subscription.
Last year, Netflix revealed that it had lost almost a million accounts between April and the end of June.
However, in January the company said that the number of subscribers had increased by the end of 2022.
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