Netflix has reportedly lost 2 lakh subscribers recently. This is the first time that the company bore a 20% loss and such subscriber loss in a decade. The news of Netflix’s cheaper subscription plans was in rumours for many days. But, Netflix has finally confirmed of bringing cheaper subscription plans that will include ads.
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By bringing a cheaper subscription plan the company could gain more subscribers and subsequently cover up the loss in lesser time.
“We are adding an ad tier. We’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads”, said Ted Sarandos, Co-CEO at Netflix.
Netflix is in talks with Google and other platforms to include ads in the streaming platform. Currently, the basic Netflix plan for mobile costs Rs.149/month. But, this ad-based plan would alter the OTT dynamics in India. Amazon Prime, Hotstar, and SonyLIV are some competitors of Netflix in India. However, it isn’t confirmed yet whether Netflix is bringing cheaper subscription plans are rolling out in India or not.
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While the company recently laid off 450 employees and the streaming platform has indicated more layoffs in the upcoming months.
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