In an effort to attract new subscribers after numbers began plummeting in early 2022, Netflix is finally gearing up to launch a lower-priced, ad-supported service tier.
In the company’s quarterly shareholder report, Netflix announced that it intends to launch its ad-supported tier in “the early part of 2023.”
The new ad-supported plan is meant to complement the company’s existing paid subscription tiers, which will remain ad-free. Further details were not disclosed, so it’s unknown whether the company intends to restrict content for paid subscribers, like competitor Peacock does, or if ads will be the only difference.
The move comes after a reported loss of 970,000 subscribers in the second quarter, which already is nearly
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