Rabat – After experiencing a dip in subscribers, streaming service giant Netflix has reduced the cost of its services in more than 30 countries worldwide, including Morocco in a bid to compete with the growing streaming options and gain more customers, the Wall Street Journal (WSJ) reported.
The basic streaming plan in Morocco now costs MAD 35 instead of MAD 65, while the standard plan dropped from MAD 95 to MAD 65. Meanwhile, the premium plan is down from MAD 125 to MAD 95, according to Arab News.
Netflix’s cost cuts include other MENA countries, such as Egypt, Yemen, Libya, Jordan, Algeria, Iran, Palestine, and Sudan.
The reduced prices also include other African nations such as Kenya and European countries, including Croatia, Slovenia, and Bulgaria, according to WSJ.
“We know members have never had more choices when it comes to entertainment,” WSJ quoted a Netflix spokesperson as saying, stressing the streaming company’s commitment to offering its customers a quality experience.
Netflix’s move recognizes the increasing competition from other streaming services, and the global population’s suffering from skyrocketing living costs.
In October 2022, Netflix unveiled plans to restrict customers from sharing their subscriptions and introduce a new feature that will oblige customers to pay for extra member sub-accounts when out-of-home users use their subscriptions.
“We’ve landed on a thoughtful approach to monetize account sharing and we’ll begin rolling this out more broadly starting in early 2023,” Netflix said.
In the second quarter of 2022, Netflix suffered a significant subscriber loss of almost one million subscribers, prompting the company to figure out a strategy to appeal to a wider global audience and regain subscribers.
