Netflix is finally open to experimenting with lower-cost, ad-supported packages, co-CEO Reed Hastings said.
Netflix, after years of insisting it would stick solely to subscription-only plans, is finally open to experimenting with lower-cost, ad-supported packages, co-CEO Reed Hastings said on the company’s Q1 earnings interview. The company expects to nail down its ad-supported streaming strategy over the next year or two, Hastings said, “but think of us as quite open to us offering even lower prices with advertising as a consumer choice.” Hastings’ comments about Netflix planning to intro an ad-supported plan come as the company’s subscriber growth has hit a wall — in fact, Netflix lost 200,000 subs in the first three months of 2022 and expects to drop 2 million in Q2.
