MANILA, Philippines – Netflix on Tuesday, February 21, cut the prices for its Basic and Standard monthly subscription tiers from P369 to P249 for the former, and P459 to P399 for the latter.
The subscription platform made the announcement via an ad featuring Filipino girl group Sexbomb Girls, singing a version of their song “The Spageti Song.”
The advertisement has quickly gained traction online, and shows the members of the group in various costumes from popular Netflix shows such as Wednesday and Squid Game.
Prices for the Mobile (P149) and Premium (P549) tiers remain the same.
The price cut comes as Netflix has begun to roll out password sharing limitations in some countries wherein subscribers are required to register a primary location for their subscription, with those viewing outside the primary location being required to pay an extra fee. The move has, unsurprisingly, not been received warmly, with some users pointing at a 2017 tweet where Netflix said “Love is sharing a password” in their criticism of the platform.
Netflix’s two past quarters have seen positive growth, beating Wall Street estimates of 4.57 million new subscribers with 7.66 million actual new subscribers in Q4 2022, continuing its reversal of a subscriber slump in Q3 2022. Co-founder Reed Hastings stepped down as CEO in January 2023.
Netflix faces competition from Disney+ with its mobile (P159) and premium (P369) tiers; HBO GO at P199 monthly, increasing its price from P149 monthly since August 2022; and Amazon Prime Video priced at P149 monthly, down from P259 monthly since August 2022. – Rappler.com
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