American media streaming service Netflix has announced that it will cut down the cost of its monthly subscription plans with the least subscription of Sh. 700, plunging to a record low of Sh. 300.
This is an effort to maintain and attract new customers to the platform with the growth and emergence of local industry competitors such as Amazon Prime Video and Showmax respectively.
The mobile, standard and premium packages will decline by 33, 36 and 24 per cent as new prices, revealed by Netflix, will be Sh. 300, Sh. 700 and Sh. 1,100 respectively. This is in contrast to Sh. 700, Sh. 1,100 and Sh. 1,450 on the previous plans.
New members signing up on the platform are expected to enjoy lowered prices immediately. Current subscribers will realise their savings beginning on their next billing cycle.
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“We are always exploring ways to improve our member’s experience on Netflix. Our goal is to offer a wide variety of quality shows and films at an even better value,” wrote Netflix.
Netflix fell out on the number of Kenyan subscriptions they had last year. The incentivized move is a means to get more subscribers back onto their streaming platform.
The company looks to spark growth in other countries away from where they have saturated markets, such as the US.
Showmax, the South African-owned streaming service, joined the Kenyan market in 2020 and has ramped up its customers, offering local and external TV shows and Documentaries.
In addition to the price cuts, Netflix is betting on the new shows and films which are set to premiere in the coming months as an enticement to customers for new subscriptions.
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