Netflix Yanks Basic Ad-Free Plan, Nudging Users To Ad-Supported Tier
19.07.2023 - 14:57
/ deadline.com
Netflix continues to tinker with its subscription plans, yanking its basic $9.99 ad-free offering. That leaves its new $6.99 advertising plan, its $15.49 ad-free plan and its $19.99 premium plan, according to the streamer’s sign-in page.
The move could nudge users to the cheaper ad-supported plan and doesn’t compromise the business since the vast majority of Netflix subscribers already take the $15.99 plan.
The shift comes as the company prepares to release second-quarter earnings after market close today.
Netflix launched the ad-supported tier last November. Disney+ did the same the following month as streaming services looked to boost revenue in a crowded market. Subscriber growth slowed post-Covid even as spending on content had exploded. Wall Street’s shift to focus on profits over subs pushed media companies to pivot. Netflix — whose business, unlike other streamers, is profitable — had always been averse to advertising, until it wasn’t. At a virtual upfront presentation in May, company executives told advertising executives that the ad plan had hit 5 million monthy active users globally and that a quarter of new subscribers are opting for the tier when signing up.
More to come…
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