Netflix is considering to offer a lower subscription tier of its services to select markets to attract more customers. According to sources, Asia is the most likely target for the new tier.
This news comes as the company is investing more money in the Asian market. New shows from the Asian region was announced at its Asian event in Singapore last week. More than 100 new shows are being developed across countries such as Thailand, Indonesia and Japan – all heading to Netflix as exclusives.
As the market slowly becomes more saturated with other streaming services, Netflix is looking to increase its subscriber base around the world. Historically, the company has never reduced the prices for the service it provides. This may change as it sees itself growing in markets where the cost of living is lower. At this point, it’s likely that a limited tier of the service with Netflix-only shows will be offered. Priced lower than the currently cheapest tier available, which is RM33 for Malaysia.
Asia is a ripe market for Netflix to tap into. It will face competition in the form of iFlix, Viu and also Youtube. Alphabet’s offering one of the most popular (if not the most popular) streaming service in the region. With more than two billion inhabitants in Asia, Netflix has a daunting task to convert viewers into subscribers to its service.