Netflix Cuts Prices in Some Countries to Boost Subscriptions

Netflix Cuts Prices in Some Countries to Boost Subscriptions
The Netflix logo on a TV remote controller in this illustration taken on Jan. 20, 2022. Dado Ruvic/Reuters
Reuters
Updated:

Netflix Inc. said on Thursday it has cut prices of its subscription plans in some countries as the streaming giant looks to maintain subscriber growth amid stiff competition and strained consumer spending.

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.