Guggenheim analyst Michael Morris notes that over the past week, there have been several reports regarding Netflix pricing cuts across various markets in Eastern Europe, Latin America, and Southeast Asia, which is not the first time the company has changed prices. In December 2021, Netflix cut prices in India as it faced competition from other streaming services. Last week, co-CEO Ted Sarandos highlighted the company’s success in India over the past year with viewership up 30% in 2022 and revenue increasing 25%, Guggenheim says. The firm believes Netflix is looking to extend this strategy across similar markets around the world. Guggenheim has a Buy rating on the shares.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on NFLX:
- Netflix reduces subscription prices in more than 30 countries, WSJ reports
- NFLX Tumbles as It Slashes Subscription Prices
- Netflix announces first partnership with NFL for ‘Quarterback’ docu-series
- Beyond Microsoft and Google: 2 Firms with Strong AI Capabilities
- Netflix (NASDAQ:NFLX): Now Focusing on Profitability
