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Netflix announces plans for adverts after losing 200,000 subscribers

By Emma Munbodh & Sophie Buchan

There have been rumours that Netflix is planning to introduce adverts and a cheaper subscription plan to their servvices.

It comes as the company aims to retain customers after after its quarterly figures revealed it had lost 200,000 paying customers in just three months.

Due to several factors - including the cost of living - the subscription service is now seeing many people cancel their direct debits in a bid to save more money.

Netflix announced on April 19 that its numbers had fallen for the first time in a decade.

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However as reported by the Mirror, they now expect to lose two million more in the second quarter as the share price fell significantly, wiping away roughly $70billion in total.

In response, Reed Hastings, Netflix's co-chief executive, said the company was considering introducing adverts on a cheaper subscription package, and would “figure it out over the next year or two.

A note to employees, obtained by The New York Times, revealed the new cheaper offering is now pencilled to be brought in in the final quarter.

Reed Hastings said last month that the company was looking into bringing in an advertiser-supported cheaper streaming service within the next couple of years.

However plans appear to have been sped up with the service now due to be revealed by the end of this year.

According to the Mirror the note read: “Yes, it's fast and ambitious and it will require some trade-offs.

“Every major streaming company excluding Apple has announced an ad-supported service.

“For good reason, people want lower-priced options.”

The executives pointed out that HBO and Hulu have been able to “maintain strong brands while offering an ad-supported service" whilst Netflix executives said the advertising-supported tier would be introduced “in tandem with our broader plans to charge for sharing.”

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Dive Deeper:
Netflix announces plans to introduce adverts after losing 200,000 subscribers
On April 19, Netflix announced its numbers had fallen for the first time in a decade – losing 200,000 customers…
Netflix plan to introduce adverts after losing 200,000 subscribers
The streaming giant recently hiked their prices up, causing a swell of people to end their subscription plans as Britain's…
Netflix to introduce adverts by the end of 2022 after subscriber loss
Last month, the streaming service announced a loss of 200,000 subscribers, the company's first decline in over a decade
Netflix to launch cheaper plan to win back subscribers
The cheaper rate will include adverts
One subscription that gives you access to news from hundreds of sites
Netflix with adverts coming this year as streaming service launches cheaper plan
The company has lost 200,000 subscribers amid the cost of living crisis and intense competition from other streaming services
Netflix boss warns adverts are on the way
The streaming service's CEO has confirmed an ad-supported option is in the works
Get all your news in one place