214
Netflix Hints at Price Increases, Plans to Retire Basic Service Amid Ad-Tier Growth
(www.hollywoodreporter.com)
this post was submitted on 24 Jan 2024
214 points (98.6% liked)
Technology
59555 readers
3335 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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.
The original article contains 442 words, the summary contains 169 words. Saved 62%. I'm a bot and I'm open source!