Netflix losing revenues, may launch ad-supported cheaper plans for subscribers
New Delhi : Netflix Inc has lost around 1 million subscribers in April month and with that they have just a few more than 221 million subscribers left. The reason behind them losing subscribers is a fierce battle and competition with other OTT platforms which are much cheaper than Netflix.
In the first quarter as well, the company had lost around 200,000 subscribers. To ensure that people are not disengaging with them, Netflix is planning to launch a cheaper plan for its subscribers. But, it will be supported by ads to float the revenues.
Meanwhile, there are reports that Netflix is also working on measures to ensure people cannot share their passwords oftenly.
Netflix will be working with Microsoft to launch a cheaper subscription plan for its users.
The ad-supported subscription will be in addition to the three options already available, the cheapest being USD 10 per month in the United States.
Microsoft will be responsible for designing and managing the platform for advertisers who want to serve ads to Netflix users.