Netflix dominates online streaming platforms despite the varying number of subscribers it has faced since the outbreak of the COVID-19 pandemic to the present. With so many similar platforms, Netflix has nonetheless stayed ahead of the game on a global level.
According to recent information, Netflix has been an important source of the nearly 15% increase in data traffic in the past year, a number equivalent to data shared on both TikTok and YouTube platforms which together comprise 11.4% of global internet traffic. The giant streaming services company invested billions of dollars in unique video content as it continued to succeed in amassing new subscribers, reaching roughly 10 million in the second half of 2022
While the platform attracts the largest percentage of subscribers compared to competing platforms, Internet browsing generally accounts for 17% of Internet usage globally, while gaming accounts for another 7.8% and social media platforms about 5.1%.
COVID-19 has prompted an increase in the use of online streaming services. Despite market fluctuations and changes in trading hours, the company announced that it will strive for lasting growth by offering more diversified services to enhance customer experience around the world. One of Netflix's latest initiatives, launched at the beginning of 2023, is the offering of its less expensive, ad-supported option.
Netflix considers this move to be one of its key strategies to attract more customers through more affordable monthly subscriptions. Taking into account the region's difficult situation on a number of levels, particularly regarding customers’ economic hesitations, the platform has reduced subscription fees in more than 12 Arab countries, including Yemen, Egypt, Iraq, Tunisia, Jordan, Palestine, Libya, Algeria, Lebanon, Sudan and Morocco.
The reductions include parts of the Middle East, Asia, Latin America, Europe, Malaysia, Indonesia, Thailand, the Philippines, Croatia, Venezuela, Kenya and Iran. In contrast, the company raised subscription fees on the wider global market to about $20 per month.
Regarding these changes, stakeholders say that prices may increase during the course of this year if the company decides to charge extra fees for internet game services, with prices being increased gradually. So far, this has not taken place.