According to a new statement from the New York Times, Netflix plans to launch its ad-supported service in the “final three months of the year.”
According To New Your Times
In a memo obtained by the New York Times, the memo stated, “Obviously, it’s quick & aggressive and this would resuscitate trade-offs.” In the announcement, the firm drew heavily on its rivals’ ideas. As Netflix CEO Reed Hastings noted in a memo, HBO, as well as Hulu, have managed to “keep powerful trademarks while delivering an ad-supported product,” which is exactly what Netflix is trying to do. Except for Apple, every single big game name in the streaming industry offers (or has promised) an ad-supported model, according to the memo. “Customers are looking for lower-cost alternatives for legitimate reasons.” “We’re researching an ad-supported option for people eager, however, we’ll still offer options sans advertisements,” a Netflix representative informed media outlets via a confidential text. While the spokesman refused to elaborate on precisely how well the proposed ad-based subscription plan would integrate into the company’s existing financing strategy, the New York Times stated that the most prevalent $15.49/month choice will be reduced in price. To commercialize credential sharing, the streaming giant has been testing it out in a voluntary role before, according to the memo.
In its latest quarterly financial release, Netflix revealed a shocking membership loss of 200,000, marking the first time in a year that the firm has seen a decline of this magnitude in its user base. Even before that story came out, the streaming platform’s shares were fallen over 50% this month as a result. The business let off many authors it had employed for its Tudum weblog project shortly after the declines in subscribers and shares were made public.
