Netflix co-CEO Reed Hastings said that the subscription-only company is on the verge of offering a lower-cost, ad supported package in the company’s 1st Quarter earnings interview.
The company anticipates having the plan in place over the next 2 years or less. Netflix in the past has argued against creating an ad supported tier in the past while one rival Hulu has had an ad supported option for years. The company has hit a but of a subscriber wall including losing 200,000 subscribers over the first 3 months of this year and is expecting to lose 2 million in the current quarter. Netflix is currently used by more than 100 million households.
Embed from Getty ImagesHastings has not provided details of the cost of the proposed plan. Including Hulu, HBO Max and Paramount+ also have lower cost ad-supported plans. Disney+ plans to offer an ad-supported option before the end of the year.
