Netflix cuts prices in some parts of the world

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Netflix cuts prices in some parts of the world

The logo of Netflix is seen on a TV remote controller in this illustration.

Competition in streaming businesses has risen due to the cooling of the boom and consumers turning more cautious about spending, which has caused companies to rethink their strategies.

According to the Wall Street Journal, the price cuts span some Middle Eastern countries, sub-Saharan African markets, and parts of Latin America and Asia.

Netflix, which operates in over 190 countries, is looking to grow share in newer international regions as the U.S. and Canada markets saturate. It laid out plans to crack down on password sharing for accounts on its streaming platform earlier this month.

We're always looking for ways to improve our members' experience. A company spokesman said that we are updating the pricing of our plans in certain countries.

The spokesperson did not give any more details about the price cuts.