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Netflix eyes to fix subscription crisis in Asia

Netflix eyes to fix subscription crisis in Asia 61

“Asia is a great proxy for other markets in the world,” Tony Zameczkowski, vice president of business development for Asia Pacific.

After a significant drop in the first quarter of 2022, Netflix Inc. plans to project hands-on management within its Asian market.

Although the streaming giant had plans to lessen expenditures, investments in Asia will increase including funding for the creation of local movies and television shows.

The company recorded its first client loss in more than a decade in April, and despite tough competition from rivals, shares have risen sharply in recent years as subscriber counts have increased. 

After losing two-thirds of its market value since mid-November, Netflix is under pressure to revamp its content pipeline while reducing expenses.

There are similarities between emerging Asia and other emerging markets like Africa and Latin America. Learnings here can be easily replicated or leveraged by those regions.

Zameczkowski added.

To further maintain its subscribers in the region, Netflix seeks to create more partnerships with digital payment companies and wireless operators.

This tactic allows Netflix to reach out to those who do not primarily use credit cards for payments and membership fees.

More than that, Netflix will also continue to offer cheap prices and mobile-only subscriptions across Asia to continue gaining and maintaining customers from the region.

Faith Baltazar
Journalist at News Asia Today.