Netflix cuts some global prices as it wrestles with growth vs. revenues
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Netflix (NASDAQ:NFLX) has been cutting prices around the world - in some cases by as much as half - as it seeks to juice subscriber growth in some markets amid hot competition.
That comes amid a recent general streaming trend (including at Netflix, as well as at key rivals like Disney+ (DIS) and Peacock (CMCSA)) of raising prices to make direct-to-consumer economics work.
Netflix (NFLX) has cut and even slashed prices on certain service tiers in countries across the Middle East, sub-Saharan African markets including Kenya, European countries such as Croatia and Slovenia, Latin American countries including Nicaragua, Ecuador and Venezuela, and parts of Asia such as Malaysia, Indonesia, Thailand and the Philippines, the WSJ noted.
It wouldn't mark the first time Netflix has cut prices, after a prominent India price cut in 2021 looked to boost subscriptions there. (Netflix operates in more than 190 countries and territories worldwide.)
The streamer is looking to raise prices where it can afford to, while still looking to add subscribers in markets where it doesn't have a large share - a recipe for active price changes worldwide.
Netflix (NFLX) came out of Thursday's market open down 2.9%, among the top losers in the Communication Services sector.
In Nielsen's most recent look at TV usage, Netflix was the second-biggest streamer (behind YouTube) in terms of share.