Prices dropped in Venezuela, Indonesia, Ecuador, Thailand, and more.

Netflix has recently been feeling a major financial squeeze as other streaming platforms solidify their standing in the industry and syphon away their subscribers. To address this problem, Netflix has been looking for ways to both entice more subscribers and generate more revenue. In the largest markets like the United States, Netflix’s primary strategy is its infamous planned crackdown on password sharing, but in the smaller markets, Netflix is opting for the opposite approach.

Netflix has announced it will reduce its subscription fees.

The reduction will vary from country to country, with some having a cut of up to 50%. pic.twitter.com/T6BI62lXws

— Pop Tingz (@ThePopTingz) February 23, 2023

This week, Netflix slashed subscription prices in over 100 countries and territories around the world in order to entice more potential users to join up. The cost of basic streaming plans in countries like Venezuela and the Philippines have been slashed up to 50%, bringing them as low as approximately $4 USD.

Netflix reduced the cost of its service in more than three dozen countries in recent weeks in an effort to attract customers who have an ever-growing list of streaming options https://t.co/bpPn0KhIlU

— The Wall Street Journal (@WSJ) February 24, 2023

This is in line with statements made by Netflix co-CEO Greg Peters back in January, who said at the time that the service has the opportunity to stake a greater claim in smaller markets. “When you think about the pricing question… we want to make that spectrum even wider as we seek to serve more members around the world in trying to deliver appropriate value at those different price points,” Peters told analysts in an earnings call. “And we’re doing a good job expanding that range… There’s a bunch of people around the world in countries where we’re not deeply penetrated, and we have more opportunities to go attract them.”