Netflix may introduce its lower-priced ad-supported subscription plan by the tip of the yr, sooner than initially deliberate, the New York Occasions reported on Tuesday.
The streaming pioneer can also be planning to begin cracking down on password sharing amongst its subscriber base across the similar time, the report stated, citing an inner be aware to staff.
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 stated in April’s earnings name that the corporate would “determine (the plan) over the subsequent yr or two.”
Netflix has additionally stated it will crackdown on customers sharing passwords as competitors and password sharing have been making it tougher to develop.
The Peak Day by day: Rising inflation, Netflix subscriber loss, and Lululemon’s new focusing on of males