Except South Korea... Netflix Lowers Subscription Fees in Over 100 Countries

Up to 50%↓ Mainly in Low-Income Countries
Not Applicable to Major Countries in the US, Canada, and Europe

Netflix has reduced its monthly subscription fees by up to 50% in over 100 low-income countries. This move is interpreted as an effort to increase subscribers by adjusting prices according to income levels.

On the 23rd (local time), foreign media such as Bloomberg and The Wall Street Journal reported this, citing analysis data from research firm Ampere Analysis.

According to foreign media reports, the price reductions took place in over 100 countries, including low-income countries in the Middle East, Africa, Latin America, as well as some countries in Asia and Europe. The extent of the reductions varies. The United States, Canada, key European countries, and South Korea were not included.

Ampere Analysis stated that this price reduction measure will affect more than 10 million subscribers, with the basic 'Basic Plan' reduced by up to 50%, and other plans lowered by 17 to 25%.

Netflix issued a statement acknowledging the price reduction, saying, "We are updating plan prices in certain countries," but did not disclose the list of targeted countries.

The Wall Street Journal noted, "As recently as last month, Netflix executives were talking about raising prices, not lowering them. In the January earnings report, Netflix co-CEO Greg Peters was looking for places to raise prices," and predicted that this move is part of finding an optimal balance between subscriber growth and maximizing revenue.

Domestically, Netflix is facing consumer backlash due to sudden price hikes and account sharing restrictions. Since March last year, the Standard Plan was increased by 12.5% from 12,000 KRW to 13,500 KRW, and the Premium Plan was raised by 17.2% from 14,500 KRW to 17,000 KRW. Starting next month, additional charges for account sharing are expected to be implemented. This system will impose an extra fee per person when sharing an account with a third party who is not a family member.

This content was produced with the assistance of AI translation services.