Netflix Cuts Prices in Some Countries to Boost Subscriptions

The Netflix series "Squid Game" is played on a mobile phone in this picture illustration taken September 30, 2021. REUTERS/Kim Hong-Ji/Illustration
The Netflix series "Squid Game" is played on a mobile phone in this picture illustration taken September 30, 2021. REUTERS/Kim Hong-Ji/Illustration
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Netflix Cuts Prices in Some Countries to Boost Subscriptions

The Netflix series "Squid Game" is played on a mobile phone in this picture illustration taken September 30, 2021. REUTERS/Kim Hong-Ji/Illustration
The Netflix series "Squid Game" is played on a mobile phone in this picture illustration taken September 30, 2021. REUTERS/Kim Hong-Ji/Illustration

Netflix Inc said on Thursday it has cut prices of its subscription plans in some countries as the streaming giant looks to maintain subscriber growth amid stiff competition and strained consumer spending.

The stock fell nearly 5%, underperforming the broader market and on course for its worst day in more than two months.

The past year has seen intense competition in the streaming industry as a pandemic-driven boom fades and consumers curtail spending over fears of a possible recession, forcing companies to rethink their strategies.

According to the Wall Street Journal, which first reported the news, the price cuts took place in some countries in the Middle East, sub-Saharan African, Latin America and Asia.

The cuts apply to certain tiers of Netflix in those markets - in some cases, the cost of a subscription was halved, the Journal reported.

Netflix, which operates in over 190 countries, has been looking to grow its share in newer international regions as the US and Canada markets saturate. Earlier this month, it laid out plans to crack down on password sharing for accounts on its streaming platform.

The company added about 7.6 million subscribers in the fourth quarter after bleeding subscribers in the first half of 2022 as rivals such as Paramount+ and Disney+ raked in subscribers.

But average revenue per membership declined across regions in the last three months of 2022.

"We're always exploring ways to improve our members' experience. We can confirm that we are updating the pricing of our plans in certain countries," a spokesperson for the company said.

The spokesperson did not give further details about the price cuts.



‘Outlander’ Prequel Series ‘Blood of My Blood’ Goes Back in Time Again to Meet the Parents

"Blood of My Blood" premiers on Friday. (Starz)
"Blood of My Blood" premiers on Friday. (Starz)
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‘Outlander’ Prequel Series ‘Blood of My Blood’ Goes Back in Time Again to Meet the Parents

"Blood of My Blood" premiers on Friday. (Starz)
"Blood of My Blood" premiers on Friday. (Starz)

In Starz's "Outlander," Caitriona Balfe's Claire Fraser is bold and brave. She can also think on her feet in high-pressure moments. Her husband Jamie Fraser, played by Sam Heughan, is protective and empathetic. In a new prequel series out Friday, called "Outlander: Blood of My Blood," we see how they each got that way.

"Blood of My Blood" tells the love story of Jamie's parents, Ellen and Brian, and Claire's parents, Julia and Henry. The characters are inspired by the stories of Diana Gabaldon but there are no novels for showrunner Matthew B. Roberts to follow. He also is the showrunner of the original series, which debuts its final season early next year.

With no source material "there’s a lot more room to play in," explained Roberts. In "Outlander,there are all these tentpole moments that we have to write to because that’s what our audience wants from the books."

The Frasers

In the books, Gabaldon mentions Jamie's parents in "breadcrumbs" said Roberts. "We stick to those, but the freedom is what can we do after that to get to essentially where 'Outlander' begins."

The big obstacle facing Jamie’s parents, Ellen and Brian, who meet in 18th century Scotland — is that they come from families that "don’t get on," said Harriet Slater, who plays Ellen. "They don’t mix. It’s completely forbidden. My father’s worst enemy was Brian’s father so I’m sure he’d have had some strong words to say about the whole thing."

Jamie Roy, who plays Brian, enjoys the duality of his character. There's the "tough, stoic, Highland warrior" who he says "rides around on horses and swings swords and stuff." Then there's this "lovely, gentle, poetic, romantic guy who wants nothing more than to take care of other people."

A few months ago Roy went back and rewatched episodes from season one of "Outlander," because he wanted to watch Heughan as his TV son.

"There’s so many people who had said there was resemblances about our performances and such. I was like, ’Well, let me see what Sam’s journey was like right at the start. And I kind of see what they mean."

The Beauchamps

Claire's parents Julia and Henry are mentioned even less in the books. They died in a car accident when Claire was young. We see them meet in "Blood of My Blood" during World War I. Henry was a soldier and Julia worked in postal censorship.

"When we meet him, he’s pretty much given up," said Jeremy Irvine, who plays Henry. "I think he’s accepted death really and doesn’t have anything to live for and sends this one last lifeline out in the form of an open letter back to England." Julia finds his letter at work and feels compelled to respond. The two end up falling in love while writing back-and-forth.

A series of events send Julia and Henry, like their daughter, back in time. They end up in the 1700s where Irvine explains they are "trying to live second by second."

"The time they’ve gone back to is not a friendly time to be an outsider at all. Being an outsider would likely mean death. Henry and Julia, as is Claire, are very quick-witted, fast-thinking, intelligent people. They survive by the skin of their teeth."

Season 2 of 'Blood of My Blood' is coming too

The cast is already in production on season two of "Blood of My Blood." Hermoine Corfield, who plays Julia, says it's been nice filming "in our own little secret bubble."

Promoting the series has been tricky because they have to remember what happened in season one versus season two.

"You almost forget what you did in season one because you’re already onto that next journey and storyline," said Corfield.