Netflix chief Reed Hastings said on Tuesday that he's coming around to the idea of offering an ad-supported tier for a lower monthly fee.
On the day that it reported the loss of subscribers for the first time in more than a decade, Netflix has revealed it is considering an ad-supported tier for a lower subscription fee.
Hastings acknowledged that his opposition to an ad-supported tier has been well documented, but said a strong belief in consumer choice could, after all, persuade him to backtrack. Witnessing the exodus of 200,000 subscribers in the three-month period ending March 31 may also have nudged him toward accepting the idea.
However, Hastings added that an ad-supported service wouldn’t likely land for at least a year, meaning that for now subscribers are stuck with paying $10 a month for the basic tier, $15.50 for the standard tier, and $20 for the premium service. Hastings also said on Tuesday that Netflix expects to lose a further 2 million subscribers in the current quarter. He put the losses down to a number factors such as increased competition from rivals, the war in Ukraine, and password sharing, a practice that Hastings said some 100 million households are currently engaged in.
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