Netflix wants to experiment with cheaper version

Netflix wants to offer a cheaper version of its video streaming service in some countries to attract more customers. This is what founder and chief executive Reed Hastings told the financial service Bloomberg, but without giving further details.

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The idea alone is a change in strategy for Netflix: Until now, the U.S. company has tended to rely on price increases as well as more expensive versions of its offerings with higher quality. The idea is not to lower the price of the currently cheapest package, but to offer a lower-cost version with a reduced offering, Bloomberg wrote on Monday. With that, Netflix is more likely to target markets with lower per capita incomes. Netflix had 130.4 million paying customers and nearly 7 million users still on trial at the end of last quarter. With nearly 7 million new additions, the provider was back on track for growth in the quarter after user numbers disappointed analysts the quarter before. Netflix spends hundreds of millions of dollars each year on exclusive content and competes with Amazon, among others, where the video offering is included in the price of Prime membership. (SDA)

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