Today, Netflix has started to notify customers in Turkey. Cord Cutters News has confirmed with Netflix that it has increased its price in Turkey and only in Turkey at this time.
Here are the new prices in Turkey:
- Basic: 99.99 TRY/month
- Standard: 149.99 TRY/month
- Premium: 199.99 TRY/month
With this price hike in Turkey, Premium users will pay about $7.40 USD a month. This is a jump from the about $5.17 USD a month they paid before this price hike. This works out to be a $2.23 price jump for what Netflix was charging, which was a noticeable price hike.
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.