Netflix reduced Prices for Bulgaria due to Inflation and Competition

Business | February 24, 2023, Friday // 14:28
Bulgaria: Netflix reduced Prices for Bulgaria due to Inflation and Competition @Pixabay

Bulgaria is one of the 30 countries where the streaming giant Netflix is reducing the prices of its subscription plans in Europe, Latin America, Sub-Saharan Africa and the Middle East.

The news, first reported by the Wall Street Journal, was confirmed by a Netflix spokesperson to the BBC, saying: "Customers have never had more choice in entertainment."

The British media notes that along with household belt-tightening, Netflix is facing increasing competition from other platforms. In some countries, the fees drop by a few euros.

Among the affected countries are Croatia, Slovenia, Venezuela, Thailand, Iran, Kenya and others.

The plans in Bulgaria are now Basic (4.99 per month), Standard (7.99 per month, with the possibility of access from more devices) and Premium (9.99), which offers the best quality.

In the last few years, 7.99 euros per month was the price for the Basic service, and 9.99 for the Standard service. Thus, the drop is by three euros for the first and by two - for the second.

The news, which surprised some industry observers, is also a sign of Netflix's increasingly fierce efforts to attract subscribers. The platform offers services in 190 countries, but faces increasing competition from Amazon, Disney, HBO and others. Hundreds of jobs were cut last year.

However, other measures were introduced earlier this year, such as a limit on password sharing and an additional fee in some countries for customers who want the service to be used in more than one household.

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