New Delhi: Netflix is all set to roll out its ad-supported subscription plans. This was confirmed by the company CEO Ted Sarandos in an interview at the Cannes Lions advertising festival, The Hollywood Reporter confirmed. Earlier, a report in The New York Times had also confirmed that the company is planning to launch the plans by the end of this year
The company has close to 2 lakh paid subscribers and is in dire need of new ones. The slump in paid subscribers has stunted the revenue growth of the company. That is also one of the reasons why the company has parted ways with close to 300 employees in a matter of six months. However, the ad-supported plans can make things a little better for the company now as they are expected to be cheaper, the report added.
“We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising,’” Sarandos said during the Cannes Lions stage with Sway podcast host Kara Swisher. “We adding an ad tier; we’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.’”
Netflix is currently the largest streaming giant with close to 222 million subscribers, but the loss in paid subscribers in the first quarter of 2022 has impacted the company in a huge way. The company is still trying to come out of the blow caused by the subscriber loss. It has not only impacted the business of the streaming giant, but so many employees had to let go of their jobs at Netflix.
