– Netflix is cutting prices in more than 30 of its smaller markets to attract more subscribers.

– The company has been facing stiff competition from deep-pocketed rivals such as Apple, Amazon, and Disney.

– In addition to lower prices, Netflix is cracking down on password sharing and placing more emphasis on profit growth.

Netflix has cut prices in more than 30 of the smaller markets where its streaming service is available, as it tries to lure more subscribers in areas where it is not yet deeply penetrated. The lower prices affect markets including Yemen, Jordan, Libya, Iran, Croatia, Slovenia and Bulgaria, as well as sub-Saharan African markets. However, the company is not changing its prices in any of its largest markets, including the US, where it has been increasing rates to offset programming costs. Netflix has been vying for viewers with deep-pocketed rivals such as Apple, Amazon and Walt Disney. The company lost almost 1.2 million subscribers in the first half of 2021, prompting it to introduce a cheaper, ad-supported option. However, it added 10 million subscribers in H2 2021. Netflix has also started to crack down on password sharing, which has allowed an estimated 100 million people worldwide to use its service for free. The company lost 920,000 customers in the US and Canada in 2021, but price increases in those markets helped to boost revenue by 9% to almost $14.1bn.

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