Netflix to debut subscription with ads

San Francisco, Oct 13, 2022 (AFP) – Netflix on Thursday said a subscription option subsidized by ads will debut in November across a dozen countries as the streaming service strives to jumpstart stalled growth.

Netflix reported a loss of 970,000 subscribers in the second quarter along with stagnant profits, and its share price is down 63 percent from this time last year despite rising slightly on the ad-tier news.

The new “Basic with Ads” subscriptions will be priced at $6.99 in the United States — three dollars less than a no-ads basic option, Netflix chief operating officer Greg Peters said in a briefing.

“The timing is great because we really are at this pivotal moment in the entertainment industry and evolution of that industry,” Peters said.