This month, Netflix has started to notify customers in Turkey. This is the second price hike in Turkey in the last four months.
Here are the new prices in Turkey:
- Basic: 119.99 TRY/month up from 99.99
- Standard: 176.99 TRY/month up from 149.99
- Premium: 229.99 TRY/month up from 199.99
Netflix says these prices are now in effect for new members and will take effect for all current members. Current members will get an email notification 30 days before their price changes unless they change their plan.
So why is Netflix so much cheaper in some markets? In short, the Netflix catalog is not the same in all markets. Also, Netflix often uses lower price points to try and grow in some markets they are trying to grow in.
There is no word yet on if Netflix will roll out this price hike to other countries. It is not unusual for Netflix to start price hikes in international markets before rolling out to other areas.
This comes as Netflix has talked about ways it can raise more revenue. Netflix co-CEO Greg Peters has lofty ambitions for what the streaming service can do with product placement and how it can enhance its ad-supported service.
Peters wants to eventually start “working with showrunners on series with a secondary brand narrative,” suggesting whole storylines could be built around a product or ad campaign, adding he wants the ads “to feel like they’re more part of the universe.”
Peters, who made those comments while speaking at Goldman Sachs’ annual Communicopia and Technology conference on Tuesday, said the company continues to think about how to get deeper into the advertising business. He added the litmus test is whether these storylines work well enough that even subscribers to the more premium tier would want to watch the shows.