California|Netflix is set to cut subscriptions in half in some countries. One such move by Netflix is to maintain subscriber growth amid fierce competition and consumer spending. Netflix’s stock is now down.
Consumers are also cutting back on spending due to fears of an economic downturn. This has forced companies to rethink their strategies.
Prices have been reduced in some countries in the Middle East, Sub-Saharan Africa, Latin America and Asia. Netflix, which operates in more than 190 countries, is poised to expand its presence in new territories as it perfects its markets in the US and Canada.
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