MANILA - Netflix on Tuesday announced a region-wide update which lowered the monthly fees for Filipino users subscribed to the Basic and Standard plans.

In a statement, Netflix said users subscribed to the Basic Plan would now pay monthly fees of P249, down from P369 while those under the Standard plan would pay P399 per month, lower than the previous rate of P459.

Mobile Plan and Premium Plan holders' monthly subscription fees of P149 and P549, respectively, were retained, the on-demand video streaming platform said.

"Netflix announced a region-wide update to some of its subscription plans. Starting February 21, 2023, subscribers from the Philippines can now enjoy a variety of movies and shows on Netflix at a much lower cost," it said.

New sign ups starting Feb. 21 will be under the new pricing scheme, it said.

Netflix said the updates would roll out to existing members over the coming weeks from their next billing cycle. Existing members will be notified by email and the app 30 days before the new prices are applied, it added.

Netflix is among the top video streaming service globally with 231 million paid membership in over 190 countries.

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