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.
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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 subscription fees.
The cuts apply to certain price plans, with subscription charges falling by half in some cases.
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The US and the UK were not mentioned by the corporation as places where it has reduced its prices.
In a statement released on Thursday, Netflix said, “We’re continually looking for ways to enhance our members’ experience. “We can confirm that in some countries we are changing the prices of our programs.”
Following the initial publication of the story by the Wall Street Journal, the company’s shares closed 3.4% lower on Thursday in New York.
The corporation has also tightened restrictions on customers who share their login information and passwords. Netflix placed restrictions on password sharing in several nations, asking users to pay additional fees if they wish to share their accounts with friends and family.
