Netflix Cuts Subscription Prices in Over 30 Countries

Netflix has reduced the cost of its service in more than three dozen countries in recent weeks, as it tries to appeal to customers around the world who have an ever-growing list of streaming options. From a report: The streaming company's recent price cuts span Middle Eastern countries including Yemen, Jordan, Libya and Iran; sub-Saharan African markets including Kenya; and European countries such as Croatia, Slovenia and Bulgaria. In Latin America, nations including Nicaragua, Ecuador, and Venezuela have seen reductions in subscription costs, as have parts of Asia including Malaysia, Indonesia, Thailand and the Philippines. The cuts apply to certain tiers of Netflix in those markets -- in some cases halving the cost of a subscription. As recently as last month, Netflix executives talked about raising -- not lowering -- prices. In a January earnings call, co-Chief Executive Greg Peters said the company is looking for places where they can afford to raise prices, which feeds continued content investments. "We think of ourselves as a non-substitutable good," Mr. Peters said. Netflix also has an opportunity to add new subscribers in markets where it doesn't currently have a large share, he said.

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