Netflix may introduce its lower-priced ad-supported subscription plan by the tip of the 12 months, sooner than initially deliberate, the New York Instances reported on Tuesday.
The streaming pioneer can be planning to start out cracking down on password sharing amongst its subscriber base across the identical time, the report mentioned, citing an inside notice to workers.
Netflix didn’t instantly reply to a Reuters request for remark.
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 growth it recorded through the pandemic.
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 Govt Reed Hastings mentioned in April’s earnings name that the corporate would “work out (the plan) over the subsequent 12 months or two.”
Netflix has additionally mentioned it could crackdown on customers sharing passwords as competitors and password sharing had been making it tougher to develop.
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