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Netflix confirms it will introduce cheaper ad-supported tier

After several hints that the streaming service will introduce a more affordable ad-supported subscription plan. Netflix Co-CEO Ted Sarandos has confirmed that it is coming in an attempt to bring in new customers.

• Netflix Confirms It Will Introduce Cheaper Ad-Supported Tier

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Speaking to Hollywood Reporter at the Cannes Lions advertising festival, Sarandos confirmed the ad tier. “We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising,’” said Sarandos. “We adding an ad tier; we’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.’”

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Back in April, Netflix reported that it lost 200,000 subscribers with stock prices dropping by over 23%, followed by the cancellation of multiple shows. Introducing a less expensive ad-supported tier could bring in more subscribers and revenue for the company.

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This article was written by Louie Diangson, Managing Editor of YugaTech. You can follow him at @John_Louie.

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