New Lower Price Netflix Plan Could be Coming Soon
Amid Subscribers Leaving in Droves, Netflix may be Offering a Lower Cost Ad-Supported Plan
The last quarter has not been kind to Netflix. After years of subscriber growth, subscriber growth is now moving in the wrong direction. They lost 200,000 subscribers last quarter with another projected 2 million subscribers to follow. This is the first time in a decade that subscriber growth went negative for the company. Their stock also plunged 25% upon the news.
So besides cracking down on password sharing, Netflix is now also seriously considering a lower-cost plan supported by advertisements.
This is not something that the CEO of Netflix Reed Hastings wanted to adopt but based on the success of other streaming platforms, that have successfully embraced lower-cost ad-supported tiers the company is now seriously considering it. A new ad-supported plan could be rolled out within the next year or two.
Higher Prices for Streaming Service are Not The Only Problem Netflix Faces
When Netflix first launched its streaming TV service, it had pretty much no competitors. This benefited them greatly because they had everyone's content on their site. This meant cord-cutters could go to one site and watch content from many content providers.
Now that these providers started their own streaming services, it has become much more expensive for cord-cutters to watch the same content they once enjoyed for one low monthly cost. This has even caused an uptick once again in piracy.
The price increases did not do much to help subscribers stick with Netflix. With several price increases, and less content Netflix is not the bargain it once was. So, now many consumers who are now facing rising prices in many areas of the economy, are now choosing to dump Netflix in favor of free ad-supported streaming TV channels.
With The Current Economy, Free Streaming Sites Are Becoming More Popular
While a lower-priced Netflix plan may appeal to some viewers, others are choosing completely free streaming channels instead. And some are almost as good as Netflix with the content that they offer. The Roku Channel provides a ton of ad-supported content. Along with Peacock, Freeve (formerly IMDb), Pluto TV, and Tubi. These are all great Free streaming TV alternatives.
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