Netflix has reduced its rates in over 100 countries in response to criticism for password sharing

Netflix reduced its subscription prices in over 100 areas over the past week as customers considered which streaming services to keep amid price hikes. Egypt, Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Vietnam, Thailand, and the Philippines saw price drops.

According to Ampere Analysis, Netflix reduces its base tier by 20%–60% in different countries. The price cut impacts nearly 10 million Netflix subscribers, according to the research and analytics group.

“Starting today, our Basic Plan in Malaysia is now RM28 per month for both new and existing members,” tweeted Netflix Malaysia. Monthly fees were RM35.

Given industry trends, the move is shocking, but not really. Netflix has been criticized for its password-sharing rules in Canada, New Zealand, Portugal, and Spain. More countries will adopt the modifications. Social media subscribers are complaining about this. Only Netflix charges for password sharing. Netflix may decrease rates to redeem itself.

To compete, prices may drop. Paramount+, Apple TV+, Disney+, and Hulu are the latest Netflix competitors to raise pricing. Peacock also withdrew its free tier for new clients.

Netflix informed The Wall Street Journal that users have never had more entertainment options. Netflix strives to exceed expectations, the representative said.

Netflix has cut prices before to attract customers. The streamer decreased monthly membership prices in India by 18% to 60.1% in 2021.