Netflix is the leader of streaming platforms thanks to different marketing strategies that have allowed it to stand out from its competitors.
Since its birth at the turn of the 20th century, the company has grown to become one of the largest and most successful media providers on the planet, with more than 210 million subscribers.
One of the key aspects of Netflix marketing is its pricing strategy. The company offers different subscription options, each with different features and prices, to serve a wide range of audiences.
This pricing strategy has allowed Netflix to reach budget-conscious consumers to those who want better viewing experiences.
The flexibility of prices has also allowed it to adapt to the arrival in the market of new competitors, such as Amazon Prime Video, AppleTV +, Hulu and Disney +.
In recent years, and especially since the end of the pandemic, Netflix has increased the prices of all its plans. In addition, in the cases in which it did not raise the rates, it launched ad-supported plans in some countries with the idea of mitigating the impact of its expenses in the production of content on its costs.
Netflix needs more revenue because, to counter the advance of the competition, the company is investing more than ever in the production of its own movies and series, such as the award-winning “Stranger Things,” “The Crown” and “Bridgerton.”
New Netflix pricing strategy
The novelty of this February 2023 is that, contrary to the strategy of price increases, Netflix lowered the rates in some Latin American countries.
That’s right, for the first time, the streaming service reduced the monthly cost of its plans.
It did so in some Latin American countries, but not all. He neither announced the news in the press nor did he publicize it. However, subscribers were informed that as of February 13 the prices of the plans were going to drop.
According to publish TaviLatam, some media from the nations involved were able to get official confirmation from Netflix. It’s about the newspaper The Panamanian Press and i am 502from Guatemala.
Other countries where users received emails announcing lower prices are El Salvador, Paraguay, Jamaica, the Dominican Republic, Ecuador, Nicaragua, Venezuela and Bolivia.
There is also no homogeneity in the amount of the drop in the prices of Netflix plans in Latin America.
In Guatemala, for example, the monthly values of the plans became $4.99 (Basic plan), $7.99 (Standard) and $10.99 (Premium). Previously they were at 7.99, 10.99 and 13.99, respectively.
In Panama, for its part, prices dropped from $8.99 to $4.99 for the Basic plan; from 12.99 to 8.99 for the Standard plan; and from 15.99 to 12.99 for the Premium plan.
“Our goal is simple: to offer a wide variety of series and movies, tailored to our members. Thus, regardless of the mood or the tastes of each one, they will be able to find something ideal to see ”, they explained to am502 from Netflix to argue the decision to lower prices in Guatemala and in some Latin American countries.
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