Netflix co-CEO Ted Sarandos finally confirmed that the streaming platform will soon have an ad-supported tier for a cheaper subscription option, followed by a whopping loss of subscribers last April.
“We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising,” shared Sarandos to Hollywood Reporter.
Through this upcoming cheaper ad-supported tier, Netflix hopes to gain its subscribers back and more. However, the company is still the largest streaming service, with over 200 million subscribers.
They haven’t decided which company to partner with to get them into the advertising business, as they are still “talking to all of them right now.”
The company aims to release the new tier by the end of 2022.