In an effort to increase subscriber numbers and deter password sharing, Netflix has implemented a cost-saving measure in over 30 countries.  

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According to The Wall Street Journal, the streaming service has reduced prices by up to 50% in certain countries in the Middle East, Asia, Europe, and Latin America.  

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The increase in competition within the streaming industry has led to Netflix's new pricing strategy.  

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Netflix's co-Chief Executive had previously revealed plans to increase prices before implementing the new cost-saving measure.

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The new pricing strategy has no effect on larger markets like the U.S. and Canada, where an ad-supported tier is already available, but it provides an opportunity for Netflix to try different pricing strategies.  

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Netflix is aware that consumers have numerous entertainment options, and the company aims to exceed their expectations by providing a superior experience, according to a company representative.  

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Greg Peters, co-Chief Executive of Netflix, has referred to the streaming service as a "non-substitutable good."  

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Netflix plans to increase its investment in content offerings, in addition to providing more affordable prices in applicable countries.  

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Despite attempts to prevent password sharing, Netflix still faces challenges in retaining subscribers, in part due to the frequent cancellation of original content.

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