Netflix CEO Ted Sarandos has confirmed that it is planning to introduce an ad-supported tier to its list in an interview at the Cannes Lions advertising festival.
Netflix’’s ad-supported subscription plans are not a figment of our imagination after all, the company has confirmed rolling them out soon. The company CEO Ted Sarandos has confirmed that it is planning to introduce an ad-supported tier to its list in an interview at the Cannes Lions advertising festival, The Hollywood Reporter confirms. A report by The New York Times previously confirmed that the company is planning to launch the plans by the end of this year. Netflix is in dire need of new subscribers. The company, during an earnings call, announced that it had close to 2 lakh paid subscribers. The slump in paid subscribers has stunted the revenue growth of the company. That is also one of the reasons why the company has parted ways with close to 300 employees in a matter of six months.
