For the longest time, Netflix subscribers have requested lower-cost options. But that may finally happen now that the company’s CEO, Reed Hastings, has disclosed that the streaming behemoth is testing new ad-supported plans that will be far less expensive than existing Netflix rates.
Netflix has resisted putting adverts on its streaming gadget, but if a customer wants a lower-cost membership plan, they will have to put up with ads as well.
Reed Hastings, CEO of Netflix, stated, “Those who have followed Netflix know that I have been against the complexity of advertising and a huge admirer of the simplicity of membership,” during the company’s pre-recorded earnings presentation.
“But, as much as I support that, I am a stronger supporter of consumer choice, and letting people who want a cheaper price and are tolerant of advertising to obtain what they want makes a lot of sense.” He stressed that introducing more affordable options makes a lot of sense.
Hastings stated that the service will be available in a year or so. He also noted that the new ad-supported plans, which would be cheaper, will benefit the firm by attracting a large number of new members.
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