Netflix is preparing an ad-supported plan
It is set to launch in early 2023
In its Q2 earnings report released on July 19, Netflix announced it is preparing an ad-supported plan which could launch as soon as early 2023.
For the streaming giant, such product offering would have been considered sacrilege not too long ago (aka the promise of an ad-free experience). But times have changed… Discovery+, Peacock, Paramount+, HBO Max and Hulu are platforms that have budget conscious ad-supported tiers. Not to mention Tubi and Pluto TV which are fast growing services while offering content for free through such model.
As you might may already know, Netflix is not doing so well right now. The earnings report revealed that the company lost 970,000 subscribers during the quarter (its largest quarterly loss ever). A new strategy is clearly needed to limit the damage.
There are no details on how much the plan could cost yet, but I wouldn’t be surprised if the iconic brand aggressively discounts/markets this new tier.
This story was first published on The PhilaVerse (my Substack newsletter).