Netflix is about to get cheaper! Streaming giant confirms new plan at a much lower price

Netflix has confirmed that it is engaged on a brand new decrease priced membership tier which will likely be supported by advertisements. After a lot hypothesis, the world’s hottest streaming service has revealed testing will quickly start for a less expensive membership tier that can have advertisements. The information was revealed by Netflix co-CEO Ted Sarandos, who assured present subscribers that regardless of this large shake-up the Netflix they know and love is not altering.

The Netflix bigwig mentioned: “We’ve left an enormous buyer phase off the desk, which is individuals who say, ‘Hey, Netflix is simply too costly for me and I don’t thoughts promoting’.

“We’re including an ad-tier. We’re not including advertisements to Netflix as you understand it right this moment.”

The information comes after fellow Netflix co-CEO Reed Hastings mentioned in April that the streaming large was trying into an ad-supported plan.

Hastings beforehand mentioned: “Those that have adopted Netflix know that I’ve been towards the complexity of promoting and an enormous fan of the simplicity of subscription. However as a lot as I’m a fan of that, I’m an even bigger fan of shopper alternative.

“And permitting customers who prefer to have a cheaper price, and are promoting tolerant, to get what they need makes lots of sense.”

The streaming large – who in the beginning of this 12 months recorded its first loss in subscribers for a decade – has not confirmed when the brand new ad-supporting plan will likely be launching.

Nevertheless it has been rumoured that this new, cheaper Netflix plan might launch as early as this 12 months.

If that is the case then Netflix will likely be rolling out its new cheaper plan across the similar time as Disney+.

The comparatively new child on the streaming block are additionally launching an ad-supported plan which is able to debut within the US in 2022.

Netflix’s upcoming cheaper plan ought to assist it compete with the quantity of recent competitors it faces.

The Stranger Issues and Bridgerton makers beforehand revealed that elevated competitors within the streaming area was a think about its flagging person numbers.

And this month within the UK Netflix has bought one other new rival, with Paramount+ launching in Blighty.

The streaming service, which launched with an ideal library of hits equivalent to the brand new Scream movie, the Halo TV present and cult horror present Yellowjackets, is the most recent service that has launched that may eat away into Netflix’s person numbers.

And extra are deliberate with Discovery and Warner Bros teaming as much as launch a brand new enterprise collectively which is able to mix the Discovery+ library together with Warner Bros’s large again catalogue to create a brand new streaming large.

Regardless of dealing with elevated competitors and seeing person numbers fall, Netflix remains to be the most well-liked streaming service on the earth.

Netflix has a whopping 222million subscribers with second place Prime Video on over 200million and third-place Disney+ on 137.7million.