Netflix Introduces Cheaper subscription plans with ads
Netflix introduces Cheaper subscription plans with ads, this will be available soon, so they are not just a figment of our imaginations but are confirmed by Netflix. In an interview at the Cannes Lions advertising festival, the company’s CEO, Ted Sarandos, confirmed that he intends to add an ad-supported tier to his roster, The Hollywood Reporter confirms. The company intends to introduce the programs by the end of this year, according to a previous report from The New York Times.
Netflix desperately needs more subscribers, then the need for this cheaper subsription plans with ads. The business revealed that it had almost 2 lakh paid subscribers during an earnings call. The company’s revenue growth has been stifled by the decline in paid subscribers. This is another factor in the company’s nearly 300 employee layoffs over the last six months. Ad-supported plans, which are anticipated to be less expensive, could, however, make things slightly better for the company right now. At the Cannes Lions stage on Thursday, Sarandos said, “We’ve left off the table a big customer segment, which is people who say: Hey, Netflix is too expensive for me, and I don’t mind advertising.” “We are not changing Netflix as you currently know it; rather, we are adding an ad tier. For people who say, “Hey, I want a lower price, and I’ll watch ads,” we’re adding an ad tier.”
With almost 222 million subscribers, Netflix is currently the most well-known streaming service, but the company has been severely harmed by the loss of paid subscribers in the first quarter of 2022. The business is still working to recover from the blow that the loss of subscribers caused. The streaming juggernaut’s business was impacted, and many Netflix employees were forced to leave their positions.
Netflix reportedly acknowledged to The Variety that it “had unfortunately cut off 300 people.” According to the report, the majority of employment losses have taken place in the US and span several economic sectors. According to Variety, Netflix employs 11,000 people in total. Therefore, the most recent layoffs affected around 2% of their staff. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” the Netflix spokesperson said in a statement on Thursday. We really appreciate everything they have done for Netflix and are making every effort to help them get through this challenging transition as effecting cheaper subscriptions with ads on netflix.