More than 30 nations in Asia, Europe, Latin America, sub-Saharan Africa, and the Middle East have seen Netflix subscription prices reduced.
The decision was made public by the streaming behemoth on Thursday as it works to increase subscriber numbers in the face of fierce competition and constrained consumer spending.
After a drop in growth, Netflix recently lowered its fees in India and several regions of South-East Asia; Thursday's decision only impacts countries that make up a small portion of its client base.
Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Thailand, and the Philippines are just a few of the countries that have reduced their subscription fees.
The reductions apply to specific price plans, and in some cases, subscription fees are lowered in half.
We are constantly searching for ways to enhance our members' experience," declared Netflix in a statement on Thursday. "We can verify that we are adjusting the pricing of our plans in specific nations." The UK and the US were not explicitly mentioned as countries where the company had lowered its prices.
After the Wall Street Journal broke the news, the firm's stocks ended 3.4% lower in New York on Thursday.
Additionally, the company has cracked down on subscribers who share their login details and passwords. In certain nations, Netflix has imposed restrictions on password sharing and now demands extra fees from customers who wish to share their subscriptions with friends and family.
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