Netflix may introduce its lower-priced ad-supported subscription plan by the tip of the 12 months, sooner than initially deliberate, the New York Occasions reported on Tuesday.
The streaming pioneer can also be planning to start out cracking down on password sharing amongst its subscriber base across the identical time, the report mentioned, citing an inner notice to workers.
Netflix didn’t instantly reply to a Reuters request for remark.
The way you watch Netflix may change as the corporate tries to recoup losses
The corporate final month posted its first lack of subscribers in additional than a decade and signaled deeper losses forward, a stark shift in fortune from the increase it recorded in the course of the pandemic.
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The lagging subscriber progress prompted Netflix to ponder providing a lower-priced model of the service with promoting, citing the success of comparable choices from rivals HBO Max and Disney+.
Chief Government Reed Hastings mentioned in April’s earnings name that the corporate would “determine (the plan) over the subsequent 12 months or two.”
Netflix has additionally mentioned it might crackdown on customers sharing passwords as competitors and password sharing have been making it more durable to develop.
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