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In an effort to attract more subscribers as the planet tightens its belt for punctuality, Netflix has announced that it is slashing prices on its subscription packages in more than 30 countries.

In addition, in recent years Netflix has faced increased competition from rival streaming platforms, which have “stolen” a large part of the subscription pie.

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The reductions are in various countries in Asia, Europe, Latin America, sub-Saharan Africa and the Middle East, where the cost of living has been judged to be rising.

For example, among the countries where subscription fees have been reduced are Malaysia, Indonesia, Thailand, the Philippines, Croatia, Venezuela, Kenya and Iran.

In contrast, the platform’s announcement does not mention the UK, US and Western Europe, where the average subscription is much higher than other countries.

The cuts apply to some packages, with subscription fees even halving in some cases.