FEBRUARY 24: Prices were reduced in parts of Asia, Europe, Latin America, sub-Saharan Africa and the Middle East.
It comes as the rising cost of living causes households to tighten their belts and Netflix faces increased competition from rival services.
“Members have never had so many options when it comes to entertainment,” a company spokesperson told the BBC.
Countries where subscription charges have been reduced include Malaysia, Indonesia, Thailand, the Philippines, Croatia, Venezuela, Kenya and Iran.
The company did not name the UK or the US as countries where it had cut its prices.
“We are always exploring ways to improve the experience for our members. We can confirm that we are updating the prices of our plans in certain countries,” a Netflix spokesperson said.
Shares of the firm closed down 3.4% in New York on Thursday after the Wall Street Journal first reported the story.
Netflix, which operates in more than 190 countries, has faced increased competition from streaming rivals such as Amazon, HBO and Disney.
Last year, the company shed hundreds of jobs and launched a less expensive streaming option with ads as it struggled to gain share in the increasingly competitive streaming market.
In January, Netflix co-CEO Greg Peters outlined how he planned to attract more subscribers.
“We want to make that spectrum even broader as we look to serve more members around the world and try to offer the appropriate value at those different price points,” Peters said.
The company is also cracking down on people sharing its subscriptions.
Netflix introduced password sharing limits in more countries earlier this month. These require customers to pay an additional fee if they want friends and family who don’t live with them to share their subscription.
Last summer, Netflix revealed that it had lost almost a million subscribers between April and the end of June, as more people decided to leave the service.
However, in January the company said the number of subscribers had increased by the end of 2022.
