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Netflix Hints at Price Increases, Plans to Retire Basic Service Amid Ad-Tier Growth (www.hollywoodreporter.com)

submitted 9 months ago by [email protected] to c/[email protected]

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Netflix Hints at Price Increases, Plans to Retire Basic Service Amid Ad-Tier Growth::Netflix says subscriptions to its ad-supported service grew by 70 percent in the fourth quarter of 2023.

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[–] [email protected] 1 points 9 months ago

This is the best summary I could come up with:

Netflix says it had a second straight quarter of strong growth in its ad-supported tier, though the business is still in its infancy.

The ad tier has gotten large enough, however, for the company to start retiring its cheapest ad-free option later this year.

Co-CEO Greg Peters said on the company’s earnings call that the ad tier has 23 million monthly active users in the 12 countries where it offers the plans, and he expects that number to continue growing.

Peters also noted that promotional bundles, à la wireless provider T-Mobile’s “Netflix on Us” deal, can help drive subscriber growth.

It will retire the plan — currently the least expensive ad-free option at Netflix — for all subscribers in Canada and the U.K. in the spring “and tak[e] it from there,” the company says in its letter to shareholders.

Netflix’s advertising team, led by Amy Reinhard, will have a lot more inventory to offer up in 2025, when it becomes the home of the WWE’s flagship program, Monday Night Raw.

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