India (21/04/2022): Popular streaming giant Netflix is planning to offer cheaper, ad-supported plans to users over the next year or two as the company aims to boost its subscriber base amid tough competition from rival platforms.
As per Mashable, Netflix has for the first time in over a decade reported a loss of subscribers. The company cited growing competition from other streaming launches by traditional entertainment companies, as well as password sharing, inflation and the ongoing Russian invasion of Ukraine for the recent loss of paid subscriptions.
According to the company’s report to its shareholders, Netflix lost 200,000 subscribers globally and could lose more than 2 million subscriptions in the next quarter.
In an effort to lure more subscribers, Netflix is planning to introduce ad-supported plans to give customers more choice, the company’s co-chief executive Reed Hastings said on the earnings call, reported Variety.
The company is expecting to nail down its ad-supported streaming strategy over the next year or two, Hastings said, “but think of us as quite open to us offering even lower prices with advertising as a consumer choice.”
Discover more from tennews.in: National News Portal
Subscribe to get the latest posts sent to your email.
