Netflix has announced a reduction in prices for its video-streaming services in Sub-Saharan Africa. The move is expected to increase subscriptions and enable customers to watch movies and their favorite TV shows more affordably.
The new pricing structure has led to a significant reduction in the amount of money charged for the old price plans.
The mobile viewing plan, which is meant for those who watch Netflix on their mobile devices, now costs $2.99 from $3.99. The basic plan, which allows users to stream on one device at a time in standard definition, is now priced at $3.99 from $7.99.
Moreover, the standard plan, which allows users to stream on two devices at a time in high definition, and the premium plan, which allows users to stream on four devices at a time in ultra-high definition, are now priced at $7.99 from $9.99 and $9.99 from $11.99, respectively.
The new pricing benefits subscribers of its mobile plan, who will be paying $1 less than what they used to, while basic plan subscribers will be paying $4 less. The standard and premium subscribers will be paying $2 less, respectively.
Netflix’s affordable pricing is aimed at exploring ways to improve members’ experience and ensuring that they get great value for their money.
In the statement obtained by Investors King, Netflix explained that “We’re always exploring ways to improve our members’ experience on Netflix. We know members have never had more choices when it comes to entertainment, and we’re more committed than ever to delivering an experience that doesn’t just meet but exceeds their expectations. “Our goal is simple, to offer various quality shows and films curated for you. So, whatever your mood or tastes, you can find something right to watch.
The company will notify existing members via email and the Netflix app 30 days before the new prices are applied to them, which will depend on the specific member’s cycle.
The company hopes to increase subscriptions in its first quarter report and stay ahead of its competitors, such as Disney+, Hulu, Amazon Prime Video, and HBO/HBO Max. The update will be rolled out in the coming weeks for existing members from their next billing cycle.