According to the Wall Street Journal, the price cuts took place in some countries in the Middle East, sub-Saharan Africa, Latin America, and Asia while TechCrunch reports that over 100 territories were affected by the price cut.
Recall in 2021, Netflix cut down subscription prices in India by a minimum of 18% and up to 60.1% as the company witnessed a decline in sales, the recent decision by Netflix however, affects a small fraction of its customer base in the affected countries.
Netflix stock witnessed its worst day in more than two months as it fell nearly 5% as the company witnessed intense competition from other streaming companies like Paramount+, Disney+, Apple TV+, HBO Max, Peacock, Hulu, etc
