Netflix may introduce its lower-priced ad-supported subscription plan by the top 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 inside observe to workers.
Netflix didn’t instantly reply to a Reuters request for remark.
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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 growth it recorded in the course of the pandemic.
The lagging subscriber development 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 stated in April’s earnings name that the corporate would “work out (the plan) over the following yr or two.”
Netflix has additionally stated it could crackdown on customers sharing passwords as competitors and password sharing have been making it more durable to develop.
