Netflix (NASDAQ:NFLX) has reduced pricing for its streaming plans in India, with the price of the basic standard definition plan slashed by almost 60% and the price of the 4K offering cut by about 20%.
Netflix has been increasingly relying on international markets to drive its future growth. This price cut could help given that India is a massive and price-sensitive market.
Netflix stock was down by about -1% in pre-market trading on Tuesday, in line with the broader markets. However, we think the move could help drive growth, to an extent.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.