Netflix CutsSubscription PricesIn Select Markets

Netflix has decreasedsubscription prices inspecific countries to sustainits subscriber growth.

Following the news,Netflix's stock declinedby nearly 5%.

The streaming industryis experiencing intensecompetition as thepandemic boom fades.

According to the Wall StreetJournal, price cuts were implementedin select countries across Asia, LatinAmerica, sub-Saharan Africa, andthe Middle East.

The subscription costreduction applies only tospecific tiers of Netflix inthose markets, and in somecases, the cost wasreduced by 50%.

Netflix is expanding itspresence in newer internationalmarkets as the U.S. and Canadamarkets reach saturation.

The company recently unveiled plans to tackle password sharing on its platform.

In Q4 2022, Netflix added7.6 million subscribers,bouncing back from thesubscriber losses.

However, in the last threemonths of 2022, the averagerevenue per membershipdropped across regions.

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