Netflix announced that it will be lowering the cost of several of its subscription plans, In the face of fierce competition and increased consumer expenditure.
Let us inform you that there are more than 190 countries where Netflix is active. It is trying to boost market share in new international countries because the US and Canadian markets are saturated.
A corporate representative confirmed the information and stated that we are constantly searching for ways to enhance the membership experience. In several nations, we are revising our programmes.
The company's stock decreased by about 5% on Thursday. The business has not performed this poorly in in than two months.
According to Reuters, price reductions have taken effect in various Middle Eastern, sub-Saharan African, Latin American, and Asian nations, citing a Wall Street Journal story.
The OTT subscription fee has been cut in half after the deduction. Let us inform you that Netflix announced earlier that it would crack down on password sharing for accounts on its streaming platform.