Netflix To Launch Cheaper Ad-Supported Tier to attract new subscribers

Netflix To Launch Cheaper Ad-Supported Tier to attract new subscribers

Netflix announced in March that it would soon be charging users who share passwords with people outside their home. This new feature, along with another, will soon be launched for test runs in Chile, Costa Rica and Peru.

Now, while talking to investors and analysts, the company’s CEO Reed Hastings stated that the platform is open to explore the possibilities of ad-based view plans, which are cheaper for users to subscribe to. The goal is to reach more users. The statement comes after Netflix reported a loss of subscribers for the first time in a decade.

Hastings told analysts that the current market has prompted the company to rethink its strategies and how users want the platform to feel. He made it clear that he did not like the “complexity of advertising” more than the “simplicity of subscriptions”, but he realized that Netflix had already reached a large number of homes within its target audience and would grow beyond that. Some changes need to be made to the platform.

The company is betting on a cheaper ad-supported plan for their customers, which will push them beyond the current limits. However, the plans are not yet ready, and Hastings says it will take up to two years for them to materialize. Even after paying the subscription fee, users still need to see if they want to see the ads. also need to know how far the ads will go. Will users experience ad breaks while watching shows or movies, or will Netflix include them in the UI? Will there be a skip button after a certain time?

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Written by Shahina P

Loves to dive into the various sectors of the tech to bring the best to the readers.

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