Netflix has announced some big changes for the rest of this year and the beginning of 2023 after its latest quarterly earnings call.
The company will officially launch a new subscription tier in November that will cost users a discounted price.
The catch, however, is that this new option will include advertisements which is something we have not yet seen from Netflix.
The all-new subscription package will be available on November 3rd and will cost $6.99/month which is over 50% off their Standard package.
Netflix is calling this the “Basic with Ads” Plan and is set to be available in 12 countries including the US, UK, Canada, Mexico, Italy, Japan, and more.
It’s important to note that this new package does have various limitations including:
4-5 minutes of ads per hour
720p Video Resolution
Various Content Restrictions
No Downloading capabilities
The hope from Netflix is to add subscribers who do not want to pay full price but still wish to stream from their massive library of content.
What do you think of Netflix’s new ad-supported tier? Will you be purchasing the discounted subscription package?
Let us know in the comment section below!
Continuing Netflix’s latest announcement is a major bulletin from the media company that is sure to cause headaches among users.
The service sent a letter to shareholders noting a new approach to eliminate password sharing for subscribers.
Netflix has teased this in the past and has even tested this in Latin America with account owners having the ability to add “subaccounts”.
The company announced a new Profile Transfer Feature that will allow account borrowers the ability to create their own profiles.
In the notice to shareholders, Netflix made the following statement regarding these upcoming changes:
We’ve landed on a thoughtful approach to monetize account sharing and we’ll begin rolling this out more broadly starting in early 2023…
After listening to consumer feedback, we are going to offer the ability for borrowers to transfer their Netflix profile into their own account, and for sharers to manage their devices more easily and to create subaccounts (“extra member”), if they want to pay for family or friends.
It is unclear what charges subaccount users will have but it is likely to be within the $3-4/month range which is relatively close to the “Basic with Ads” package.
The crackdown on password sharing comes after the service saw a drastic decline in subscribers in Q1 of 2022.
It will be interesting to see what other adjustments may come from Netflix and major streaming providers in the future.
In the meantime, however, Netflix account owners and users have big changes coming that are sure to cause a stir in the community.
We want to know what you think of Netflix’s latest announcements.
Drop a comment below!
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