Netflix is one of the most loved ott platforms across the world. The ott platform has one of the most engaging visual content pieces in the world. It also releases its own series called the Netflix originals which continue to be a favorite among many. If you haven’t subscribed to Netflix due to the cost of its subscription plans, this article might prove to be the good news that you’ve been looking for. Recent reports suggest that Netflix is introducing a new subscription plan which is cheaper than the rest of its plans. Read the entire article to learn more about it.
New Subscription Plan
Netflix is planning to charge $7 to $9 for its new subscription plan which will have advertisements. These advertisements will be shown between shows and movies. Recent reports suggested that Netflix will most probably introduce these plans in some areas in the last three months of the year. It will be a pocket-friendly subscription plan through which Netflix will be able to cater to even more people. This plan will be fully introduced in all the countries by the beginning of next year according to various reports. By choosing this subscription plan, people will be watching 4-minute commercials after every hour. The commercials will be shown before the show and in between the show. When Netflix was asked to comment about this plan and its pricing, it did not respond.
The reason behind introducing this plan
This plan has come right after Walt Disney Co. made a statement about introducing a cheaper subscription plan with advertisements in the latter half of the year. Netflix is planning to introduce a similar plan because it wants to have more subscribers who are eager to watch shows and movies with advertisements at half the price of their already existing subscription plans. Their current subscription plan costs $15.49 per month. Various reports claim that Netflix has also incurred a loss of about 200,000 subscribers in the first half of the year. The reason behind this was inflation because of which consumer spending became low. Reed Hastings, the CEO of Netflix said in a statement that he’s not a big supporter of having advertisements in subscription plans but if that is what the consumers want, then that is what he will support. Netflix has chosen Microsoft to help it with its new subscription plan. Microsoft is the technology and sales partner for this ott platform.