Stranger Things.Photo: Netflix
Netflixwill now be more affordable.
On Thursday, thecompany released a statementthat includes new details about its upcoming advertising-supported tier, titled “Basic with Ads.”
Netflix Co-CEOTed Sarandospreviously announced during a panel at the Cannes Lions festival that the company wasadding an ad tier for customerswho believe that Netflix is “too expensive” and “don’t mind advertising.”
The new “Basic with Ads” tier is set to launch on Nov. 3 at 12 p.m. ET, and will cost $6.99 per month.
“In short, ‘Basic with Ads’ is everything people love about Netflix, at a lower price, with a few ads in-between,” the company’s COO/CPO Greg Peters says in the statement.
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Bridgerton.Liam Daniel/Netflix © 2022
The upcoming launch comes after Netflix lost 200,000 subscribers in its first quarter of 2022, according to its April earnings release, per multiple reports includingThe Hollywood ReporterandVariety.
According to the statement, users of the new plan will be met with ads that will be 15 or 30 seconds in length and will play before and during Netflix’s content. Users of the streaming service’s new plan are expected to experience 4 to 5 minutes of commercials each hour.
“We’re confident that with Netflix starting at $6.99 a month, we now have a price and plan for every fan,” Peters says in the statement.
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Before the new announcement, Sarandos also expressed that Netflix-created entertainment — fromStranger ThingstoSquid Game— will remain available for viewers paying the lower subscription price.
When compared to its competitors, Netflix’s new tiercomes at a price that is less expensivethen the ad-supported Disney+ and Hulu platforms.
Both services are individually priced at $7.99 per month.
source: people.com
