Streaming giant Netflix has been facing trouble in terms of subscribers in recent times. After being in to trouble with the investors, the company has now come up with a fresh plan for revival and this time there are hopes that it would make a recovery. Netflix is planning to come up with a plan that would be supported with ads and would be introduced by the end of 2022. The reports about the plan were revealed in an internal letter to the employees.
This means that the upcoming service would include an ad-supported tier that could be helpful to attract new customers, who are currently finding the subscription plans unaffordable. Netflix has been steadily rising the prices of its subscription which made sense as long as the streaming giant was popular. But soon the popularity of Netflix was hit with competition. The base streaming plan is currently priced at $9.99 which went up from 8.99. There is another standard plan which allowed the subscribers to stream HD and is priced at $15.49 which was also increased from $13.99. The most expensive plan of Netflix is priced at $19.99 that allows 4K Ultra HD streaming.
Surprisingly, Netflix remains the only OTT platform that has priced its subscription service in terms of streaming quality. On the other hand some of the other services like Hulu and Disney+ have straightforward offerings. Netflix has since long refrained from adding advertisements to its content. Even in the past it has clarified many times that it would never show ads. But as per the current situation it seems like the company has got down to damage control and is doing everything to perform better in the next quarter.
Netflix had in the month of April reported about losing 200,000 subscribers and had also warned its investors that more subscribers could be lost in the upcoming quarter. One of the reasons that the company cited for subscriber loss was account sharing, which it is expected to crack down soon.
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