Netflix Finds New Ways to Bring in More Customers

For the past 26 years, Netflix has been growing and changing into the worldwide streaming service that it is today. Netflix operates in 190 countries and has over 220 million subscribers, but it still continues to look for new ways to bring in more customers and grow its platform. Netflix has seen many changes over the years, they didn’t even begin streaming movies using the internet until 2007, but recently Netflix has made some interesting decisions on how they are going to maintain their subscribers and compete with other streaming platforms. They have cut prices and updated their rules for sharing passwords. 

As the service becomes more and more popular worldwide, Netflix is looking to increase subscribers in newer international regions. To do this, they have cut prices in over 30 countries, in some cases even cutting the price in half. They are trying to appeal to customers amidst the ever-growing list of choices for streaming platforms. It is rare to see Netflix lowering their prices, but they want to reach areas where Netflix isn’t common, and the easiest way to do this is to make it more accessible. 

 Despite the dramatic decrease in many places, the price in the US has continued to increase over the past several months. Other countries like Canada and most of Europe have also seen an increase in price rather than a decrease. Many of these countries have also been subjected to Netflix’s new rules regarding password sharing, which haven’t been released in the US yet. 

In recent months, Netflix has had to adapt to major shifts in activity as people return to traveling and are spending less time at home. There are also more entertainment options than ever before, leaving Netflix with much harsher competition than in 2007. To combat these shifts, Netflix has shared its plan to crack down on password sharing in order to force people borrowing from friends to buy their own accounts. The new rules would require setting a primary location for the account and paying additional fees for members outside the primary location. 

Executives realize these sharing rules are going to be very unpopular but they are still going to implement them in many regions in 2023. Netflix hasn’t announced when these rules will take place in the US but can be expected around the end of March.  Many people across social media are declaring if these rules are implemented they will delete their subscriptions and find another service. Netflix hopes to combat this new loss of customers by bringing them back in with hit content and media unique to Netflix. 

Many customers plan to leave Netflix and join other platforms, but it might not be long before other streaming services follow suit, especially if Netflix is successful. These changes allow Netflix to bring in tons of new customers worldwide that previously couldn’t afford Netflix and force wealthier customers to pay extra fees or buy new accounts. As irritating as these changes can be, people are going to have to accept that a major company like Netflix will always find new ways to bring in more money and more customers.