The streamer has already phased out the cheapest ad-free subscription option for new signups.

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.

  • AutoTL;DR@lemmings.worldBEnglish
    0·
    10 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.

    The original article contains 442 words, the summary contains 169 words. Saved 62%. I’m a bot and I’m open source!

  • r00ty@kbin.life
    0·
    10 months ago

    Hahaha. If they remove the “basic” which I believe is standard since that’s the lowest I see. Only leaving the Premium option then I’m afraid I’m going to pull a full dragon’s den.

    I really did like Netflix, but they’re just getting greedy and trying to extract blood from stone now. And for that reason, I’ll be out should they remove the standard tier.

    • nodsocket@lemmy.worldEnglish
      0·
      10 months ago

      I am a shareholder of Netflix. If they don’t make more profit this year the stock will go down and I will lose money.

      I use some of the income from my Netflix stock to pay for my Netflix subscription.

      Edit: looks like I just made 12% since this announcement came out!

  • Vertelleus@sh.itjust.worksEnglish
    0·
    10 months ago

    I only had Netflix because it was free included with my T-Maybe account. They are switching it to the ad supported tier today as base, and a user has to pay extra for the non-ad supported tiers.

    My plan going forward is to watch the first episode with ads and if I like it I’ll search the high seas for the rest.

    The enshitification continues.

    • root@lemmy.zipEnglish
      0·
      10 months ago

      Once they changed it to paying that like $1 extra for the plan, I noped off TMobile. No use for it anymore when Google Fi is way cheaper for just 2 people. I just pirated everything anyways even when we had the subscription

  • rando895@lemmy.mlEnglish
    0·
    10 months ago

    What I find interesting is it seems like we are again converging on the same service as cable. Which suggests that the best method of profiting off watching movies/tv at home is to have ad supported entertainment, with a monthly fee.

    Once again, the profit motive ruins something good .

  • fubarx@lemmy.mlEnglish
    0·
    10 months ago

    Noticed we haven’t watched anything on it in a while. Was about to cancel it and then saw the ad for The Last Airbender live action, coming end of February.

    If they drop the whole season, will binge-watch, then cancel.

    • essteeyou@lemmy.worldEnglish
      0·
      10 months ago

      If everyone learned to “use the internet” and stopped paying then there would be nothing to pay for because nobody works for free.

  • octopus_ink@lemmy.mlEnglish
    0·
    10 months ago

    We’ve really been weighing whether we use Netflix enough to justify the cost lately. Don’t push us, Netflix.