Competition in the streaming businesses has heightened, pushing the companies to rethink their strategies.
The stock fell nearly 5%, underperforming the broader market and on course for its worst day in more than two months.
The past year has seen intense competition in the streaming industry as a pandemic-driven boom fades and consumers curtail spending over fears of a possible recession, forcing companies to rethink their strategies., which reported the Netflix news first earlier in the day, the price cuts span across some Middle Eastern countries, sub-Saharan African markets and parts of Latin America and Asia.
The cuts apply to certain tiers of Netflix in those markets and in some cases halving the cost of a subscription, the Journal reported.Netflix, which operates in over 190 countries, has been looking to grow share in newer international regions as the US and Canada markets saturate. Earlier this month, it laid out
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