Netflix confirms new ad-supported streaming service on the way

There have been a number of rumors about Netflix launching an ad-supported version of the streaming service, and the company has now confirmed that.

The confirmation came from Netflix co-CEO Ted Sarandos at the Cannes Lions ad festival, you can see what he said below.

“We’ve left a huge cross-section of customers off the table, which are the people who say, ‘Hey, Netflix is ​​too expensive for me and I don’t mind advertising,'” Sarandos said. [are] add an advertising layer; We don’t add ads to Netflix as you know it today. We’re adding an ad category for people who say, “Hey, I want a lower price and I’ll see ads.”

It’s not yet clear how different the new Netflix-supported tier will be from the current subscription versions.

The company is looking to increase the number of subscribers after it lost 200,000 subscribers in the first quarter of this year.

The cheaper option than the current ad-supported Netflix streaming options could allow it to start growing its subscriber numbers again exponentially.

Currently, Netflix offers three subscription options, the basic version that costs $9.99 per month, the standard version that costs $15.49 per month, and the premium version that costs $19.99 per month. It is not yet clear how much the ad-supported version will cost.

Source The Hollywood Reporter, The Edge

image rights: Molly Sivaram

Filed under: Technology News, Top News

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