Netflix Inc NFLX Shares fell over 3% on Thursday after reports suggested it The streaming giant has reduced its subscription prices in over 30 countries in recent weeks.

What happened: The price cuts were rolled out in markets in the Middle East, sub-Saharan Africa, Eastern Europe and Southeast Asia, according to the Wall Street Journal reportedciting a Netflix spokeswoman.

According to the Journal, some subscription prices have been halved in those markets.

See also: Share Netflix, Amazon Prime password with family or friends? They are “breaking the law” in this country

Netflix didn’t immediately respond to gasoline gas requests for comment.

The Los Gatos, Calif.-based company is aware of the growing list of consumers’ streaming platform options, according to the spokeswoman, and is “committed to providing an experience that exceeds their expectations.”

Why it matters: The move takes place against the background of Netflix Crackdown on Password Sharing in several countries and increase prices In select regionsas it seeks to increase users and revenue amidst cutthroat competition from competitors such as Disney+ And AppleTV+.

Price promotion: Netflix shares fell 3.4% in regular trading on Thursday to $323.65 and fell 0.65% after the closing bell Data from Benzinga Pro.

Continue reading: Tesla, Amazon, Alphabet, Nvidia, Intel: Why These 5 Stocks Are Capturing Investors’ Attention Today