Netflix to launch cheaper ad-supported subscription tier in November

Netflix will reportedly launch a cheaper ad-supported tier for its streaming platform at the start of November as the company tries to stem the loss of more than 1 million subscribers in 2022.

The ad tier would be additional to the existing tiers, meaning current subscribers would not see any ads on Netflix.

A spokesperson for Netflix said the company had not made any decisions yet.

In July, Netflix reported a loss of 1 million subscribers for the second quarter of 2022, its second quarter of loss of subscribers, with shares falling 67% to the end of July.

Netflix announced in July it would partner with Microsoft for the ad technology and as a sales partner globally. The Variety report suggested the two companies are seeking US$65 cost for a thousand views, seeking a minimum US$10m annual ad spend commitment from companies now, and touting the company can get 500,000 subscribers on the ad-supported tier by the end of 2022.