Netflix, which lost subscribers in two consecutive quarters, is now launching a cheaper, ad-supported plan, starting Nov. 3 in the U.S.
The streamer on Thursday said it would launch a cheaper, ad-supported plan at $6.99 a month starting on Nov. 3 in the U.S. Netflix will still offer ad-free subscriptions, but for people seeking a discount, a total of four to five minutes of ads will be spread out before and during their favorite programs each hour.
Netflix lost subscribers in two consecutive quarters and laid off hundreds of workers earlier this year to cut costs. By offering ads, Netflix may be able to reach people who aren't subscribers. Nine out of 10 adults who don't have Netflix watch other ad-supported streaming content, according to a recent survey of 2,500 adults by Samba TV and Harris X.
For customers who opt for ads on Netflix, 15- to 30- second ads will appear before and during their programs. Jeffrey Wlodarczak, a principal and analyst at Pivotal Research Group, views Netflix's move into advertising as"defensive not offensive."
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