Shulou(Shulou.com)11/24 Report--

CTOnews.com, February 24 (Xinhua)-- although several video platforms have recently announced price increases, Netflix announced on Thursday that it is preparing to reduce the pricing of its streaming subscription service in a number of countries and regions in Africa, Asia, Europe, Latin America and the Middle East, on the grounds that it hopes to maintain user growth in the face of fierce competition and tight consumer spending.

Netflix shares then fell nearly 4%, their worst performance in more than two months.

According to the Wall Street Journal, these price cuts apply only to some levels of Netflix subscriptions, but in some cases they are close to half price. According to Amepere Analysis, Netflix will set new pricing for its basic, standard, and advanced programs, with discounts ranging from 13% to 60%.

With the market saturation in the United States and Canada, Netflix now operates in more than 190 countries around the world in order to seek new market share. Earlier this month, Netflix also laid out a plan to crack down on account sharing (as reported earlier by CTOnews.com).

After losing subscribers in the first half of 2022, the company added only about 7.6 million subscribers in the fourth quarter, while competitors such as Paramount + and Disney+ appeared to be doing well.

Netflix said average income per member declined in the last three months of 2022. "We have been exploring ways to improve the membership experience. We can confirm that we are updating planned pricing in some countries," a company spokesman said.

The complete list of regions for Netflix price reduction is as follows:

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, C ô te 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, Namibia, Nepal, Nicaragua, Niger, Palestinian Territory, Panama, Papua New Guinea, Paraguay, Philippines, Pitcairn Islands, Romania, Rwanda, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Sierra Leone, Slovenia, Solomon Islands, Somalia, South Sudan, Sri Lanka, Saint Barthelemi, Saint Helena, Saint Lucia, St. Martin, Saint Vincent and the Grenadines, Sudan, Suriname, Eswatini, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Tunisia, Tuvalu, Uganda, Vanuatu, Venezuela, Vietnam, Wallis and Futuna, Yemen, Zambia and Zimbabwe.

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