The streaming giant Netflix is facing price inflation and looking to boost per-subscriber revenue. On November 3rd Netflix will release an ad-supported subscription option on November 3, priced at $6.99 a month.
Netflix has announced they will be creating an ad tier plan with a price of $6.99 per month.
Here's how the all the monthly costs compare to a few other streaming platforms. pic.twitter.com/QgZFMc09l0
— Cartoon Crave (@thecartooncrave) October 13, 2022
The company has long held off on making this move. With the breaking of this news, Netflix stock rose 5.3% but is still down 67% from its 52-week high of $700.99.
Netflix has had continuous growth for over a decade, the streaming company faced back-to-back quarters of subscriber loss. With 221 million subscribers, Netflix is hoping to add a million subscribers this quarter.
The Thursday announcement from Netflix stated that their new "Basic With Ads" tier will be available in the following countries: the United States, Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain and the UK.
Subscribers of the Basic With Ads tier can expect to see four to five minutes of advertisements per hour of viewing. Each ad will range from 15 to 30 seconds.
Imagine watching your favourite character about to die on a Netflix show.. then a Grammarly ad pops up for 30 secs
— 6ixBuzzTV (@6ixbuzztv) October 14, 2022
Due to licensing restrictions, not all programming will be available in this tier. "A limited number of movies and TV shows won't be available due to licensing restrictions, which we’re working on," the company said.
With this addition there are now four different subscription plans offered by Netflix:
- Basic With Ads ($6.99): Watch on one device at a time; no downloading; HD
- Basic ($9.99): Watch or downloading on one device at a time; HD starting in November
- Standard ($15.49): Watch or download on two devices at a time; HD
- Premium ($19.99): Watch or download on four devices at a time; Ultra HD
Will this move get Netflix back on track or is there just too much competition at this point and they will gradually lose their share of the marketplace?
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