Streaming giant Netflix quietly began offering a significant price reduction on its monthly plans in Lebanon.
In Lebanon, users reported receiving emails this week informing them of a reduced rate for the same service, around 30% cheaper.
For those who previously paid $9.99 for the standard plan, some were automatically upgraded to the premium plan at the same price.
The newly revised pricing packages in Lebanon are as follows:
Basic: $3.99 for 720p resolution
Standard: $7.99 for 1080p resolution
Premium: $9.99 for 4k+HDR resolution
This move is expected to boost Netflix’s presence in Lebanon
While this news has been well received by Netflix subscribers in Lebanon, the company’s price reduction strategy has not been implemented globally – where Netflix is cracking down on password sharing to limit it to people in the same household.
“It’s great to see a company like Netflix making their services more accessible to people in emerging markets,” said one Netflix user in Lebanon.
Overall, this move by Netflix is expected to attract more subscribers in Lebanon as the country struggles with an economic crisis and hyperinflation making such services priced in USD increasingly unaffordable.
The cost cuts are part of a larger strategy that includes countries in the Middle East, sub-Saharan Africa, Latin America, and Asia, according to a recent report from the Wall Street Journal. Some subscription plans in these regions saw prices cut in half.