Netflix has announced its plan to cut prices in smaller markets across over 100 countries as it faces stiffer competition in the streaming business. 

According to The Independent, the streaming giant has recently revived its subscriber growth amid growing competition from other streaming platforms and inflation. However, the company is cutting prices in some countries in the Middle East, sub-Saharan Africa, Latin America, and Asia to attract more subscribers.

Netflix is not changing prices in any of its largest markets, including the United States, where it has been increasing its prices over the past four years. That is to offset the production cost of some of its most popular series, including "The Crown" and "Stranger Things," The Washington Post reported.

According to CNN Business, these new Netflix price cuts applied to certain tiers of the streaming giant in those markets, with the cost of subscription going down by half in some cases.

An example would be in Venezuela, where the Basic Plan is now worth $3.99/month. The price went down from the previous cost of $7.99/month, which is almost a 50% decrease.

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Which Countries Will Experience Netflix Price Cuts?

Variety released a full list of countries and territories where the Netflix price cuts would take effect. These are in Afghanistan, Albania, Algeria, Angola, Bangladesh, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, British Indian Ocean Territory, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad, Christmas Island, Comoros, Congo - Brazzaville, Congo - Kinshasa, Côte d'Ivoire, Croatia, Cuba, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Fiji, Gabon, Gambia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Indonesia, Iraq, Jamaica, Jordan, Kenya, Kiribati, Laos, Lebanon, Lesotho, Liberia, Libya, Macedonia, Madagascar, Malawi, Malaysia, Mali, Mauritania, Mauritius, Mongolia, Montenegro, Morocco, Mozambique, Myanmar (Burma), Namibia, Nepal, Nicaragua, Niger, Palestinian Territories, Panama, Papua New Guinea, Paraguay, Philippines, Pitcairn Islands, Romania, Rwanda, Samoa, São Tomé & Príncipe, Senegal, Serbia, Seychelles, Sierra Leone, Slovenia, Solomon Islands, Somalia, South Sudan, Sri Lanka, St. Barthélemy, St. Helena, St. Lucia, St. Martin, St. Vincent & Grenadines, Sudan, Suriname, Swaziland, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Tunisia, Tuvalu, Uganda, Vanuatu, Venezuela, Vietnam, Wallis & Futuna, Yemen, Zambia and Zimbabwe.

Netflix Continues Clamping Down on Password Sharing

2023 marked a big year for Netflix as they continued clamping down on password sharing. The platform has begun to widen the rollout of its paid-sharing program as it tries to convert unauthorized password-sharing accounts to paying customers.

That comes as the platform lost almost 1.2 million subscribers during the first half of 2022. It prompted Netflix to introduce an ad-supported option of its service that costs just $7 per month in the U.S. That helped the streaming giant to bounce back in the second half as they added 10 million more subscribers after that huge loss earlier that year.

Netflix has clamped down on password sharing not just in the United States but also in Canada and Latin America. The streaming platform is expected to impose new password-sharing rules in the U.S. by the end of March.

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This article is owned by Latin Post.

Written by: Rick Martin

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