Netflix announced a plan to launch a cheaper subscription option featuring ads for people who want to save some money.
Netflix originally announced the idea to offer an ad-supported option last month when the news came out that they lost 200,000 subscribers instead of gaining an expected 2.5 million. The stock dropped significantly as a result and the company has lost an estimated $70 billion in market capitalization.
They originally announced that they’d be introducing the ad-based subscription in a year or two, but apparently they’ve expedited everything and it could be introduced as early as the end of 2022. They also announced they’d be cracking down on password sharing.