Netflix Reportedly Planning a Cheaper Price Tier in Some Markets

Netflix Reportedly Planning a Cheaper Price Tier in Some Markets

Netflix Reportedly Planning a Cheaper Price Tier in Some Markets

Netflix streaming first gained traction in the U.S.by offering a buffet of TV shows and movies for a fraction of the cost of pay-TV, encouraging millions of people to cancel their cable and satellite subscriptions - also known as cord-cutting.

Speaking with Bloomberg in an interview last Friday, Netflix CEO Reed Hastings revealed that Netflix will test a new, lower-priced tier of its streaming service to potentially boost sales in foreign markets. Most of Netflix's potential customers probably can't afford to pay $7.99 a month for the service, so a new, cheaper subscription plan could help change that. According to Bloomberg, Netflix executives are now toying with the idea of a fourth tier which would have different features and cost even less than the Basic plan. The standard plan costs $10.99 a month and supports HD streaming and viewing content on two screens at the same time.

The "Premium" tier costs $13.99 CAD per month and provides access to high definition and ultra high definition content on a maximum of four devices.

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Either way, it's undoubtedly a frustrating usability issue, especially for a device that was priced in excess of $999. Not to worry, though: if your iPhone is one of the handsets affected, you get a free screen replacement from Apple.

The streaming service now boasts approximately 130 million paid subscribers globally, according to the company's third quarter 2018 earnings report. Now, the world's largest streaming service is looking for growth in countries where per-capita income is significantly lower. Netflix introduced 17 new shows from five Asian countries last week.

In an attempt to appeal to Asian markets, Netflix is reportedly developing approximately 100 films and television programs across the continent, including in India, Korea, Japan, Thailand and Taiwan.

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