Netflix has given an update on its plans to introduce adverts to its content. The streaming platform wants to introduce a cheaper subscription tier supported by advertising, the firm's co-CEO Ted Sarandos has confirmed.
BirminghamLive reports that, in an interview at the Cannes Lions Festival, Mr Sarandos said: "We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising'. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.'"
In April Netflix revealed that it lost 200,000 users over the first three months of 2022. It said the challenging economic backdrop, war in Ukraine, slowing rollout of broadband in some countries and the large number of subscribers sharing their account details with non-paying households had all contributed to the decline.
