Netflix reduces its subscription rate in 116 countries.

Netflix, one of the biggest OTT platform has reduced its subscription fees in 116 countries. After the OTT juggernaut´s observation of 30 percent of the increment in consumer´s increment and 25 percent spike revenue Year over Year,Netflix decided to cut its subscription in 116 countries.

These reduction has helped a lot in the engagement in many countries including the countries like India. Due to this reduction it has also increased its subscribers by over 1.75 million users.

Learning from the F/X (forex) neutral revenue growth in 2022 accelerated to 24 per cent (versus 19 per cent in 2021). “We have decided to reduce the subscription in 116 countries” the company said.

Netflix’s global net income fell down by nearly 18% to USD 1,305 million from USD 1,597 million in the corresponding period of the previous year. However, Netflix’s revenue rose again by 3.7% to USD 8,162 million from USD 7,868 million during Q4FY22.

The premium password-sharing plan that tightens down on sharing account passwords with higher charges, will now be postponed, the company revealed on Tuesday.

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