Netflix Cuts Prices in Some Countries to Boost Subscriptions

[Sarah]

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 stock fell nearly 5%, underperforming the broader market and on course for its worst day in more than two months.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.According to the Wall Street Journal, which first rep

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