Netflix reduces the value of its subscriptions to 10 million users
Faced with the fierce competition between streaming platforms, Netflix has decided to lower its subscription prices in more than 100 countries.
According to data from Ampere Analysis, the decision to cut subscriptions affects 10 million subscribers, or 4% of the platform's total subscribers of 230 million.
Also, some price reductions will reach 50%, depending on the subscription category.
It is worth noting that the decision does not apply to America or Europe, but includes a number of countries, including Yemen, Libya, Kenya, Ecuador and Venezuela.
The company said in a statement: We are always exploring ways to improve the experience of our subscribers.. We can confirm that we are updating prices in a number of countries.
Netflix stock interacted negatively with the new decision, as it fell by more than 3% at the end of Thursday's trading session.
Earlier this month, Netflix began implementing its new plan to share passwords in 4 countries: Portugal, Spain, Canada and New Zealand.
Under the plan, users in the four countries will be required to specify a primary location for their Netflix accounts, while allowing two sub-accounts for users who do not live in the same household as the primary user.
