A few weeks back, it was revealed that streaming giant Netflix’s ad-supported plan had surpassed a whopping number of 23 million monthly active subscribers globally, indicating the growing popularity of the plan across the globe. Netflix had already done away with its basic ad-free plan in the US and the UK markets for new and rejoining members.
As per the latest update, Netflix has revealed its plans to remove its cheapest ad-free basic plan in the markets where ad-supported plans were launched. The move does not come as a surprise because it was always clear that Netflix wants its subscribers to switch to its cheaper ad-based plans. The ad-free basic plans will first be removed in Canada and the UK later this year and then be implemented in other regions.
In the Q4 earnings call, Netflix co-CEO Greg Peters highlighted the advantages of using the ad-based plans. And that it is a better deal because of higher resolution with downloads, more streams and all this for a lesser price.
Netflix has also hinted that price increases are on the cards because the streaming company is continuously improving and investing. But exactly when the price increase will be implemented and in what regions is not clear. It could happen in 2024 itself.
The ad-based plan was introduced by Netflix in twelve markets such as the United States, Canada, Australia, Brazil, France, Italy, Germany, Japan, Korea, Mexico, Spain, and the UK back in November 2022. The main aim was to focus on an increased total number of subscribers and Netflix is doing well so far in this regard.
In the Indian OTT industry context, Netflix’s ad-supported plan is yet to be introduced in this part of the world. Considering the recent developments, Netflix might soon plan to implement the same in the Indian market as well. Stay tuned to Binged for the latest updates on the same.
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