Netflix shares news: Testing mobile only subscriptions
Netflix shares are lower Friday, amid news the TV streaming service is testing mobile only subscriptions as a possible way to add lower priced options for customers. The option is currently available in Malaysia, while India is also pegged as a test area for its lower-priced service packages.
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By 1615 BST, Netflix shares were 1.89% lower at $284.57. The stock has been trending broadly lower in recent weeks.
Reports suggest that this week Netflix has quietly rolled out a mobile only subscription test package option to its customers in Malaysia. The mobile only package, which Netflix confirmed to a number of publications, costs users around $4 per month – a little more than half its current lowest package.
“We are always looking for ways to make Netflix more enjoyable and more accessible to people all over the world,” a Netflix spokesman told entertainment publication, Variety. “In this case, we are testing to understand consumer interest in a mobile-only plan in some countries.”
India has been suggested anther Asian country in which Netflix is working to increase its appeal, but no confirmation of that has been given.
More new content
While Netflix works on ways to secure even more subscribers for its service, it also announced Thursday that it is producing a new animated feature film, Escape from Hat, with director Mark Osborne and writer Adam Kline.
“Escape From Hat tells a story about friendship and magic, which perfectly mirrors how I feel about getting to reunite with my friend Mark at Netflix after ten years,” said Melissa Cobb, vice president of kids & family at Netflix.
Meanwhile, director Osborne was equally upbeat on the announcement: “Netflix is shaking up the animated feature world in highly inventive ways, including offering filmmakers the rare opportunity to turn their dream project into a reality,” he said.
Adding to its animated content, will be a four-part animated World War II drama series, The Liberator, produced by A&E studios for Netflix.