- Netflix’s slowing revenue growth and the firm’s first membership decrease in over a decade were revealed less than a month ago, and now The New York Times claims that the company is hastening attempts to reverse both trends.
- Following the publication of the report, Netflix co-CEO Reed Hastings modified his stance on ad-supported streaming, claiming that he would try to resolve the issue in the “next year or two.”
- Meanwhile, executives aim to start tightening down on password sharing and introducing the ad tier in the latter three months of 2022.
In late 2022, Netflix is expected to unveil an ad-supported tier and a crackdown on password-sharing.
Netflix’s slowing revenue growth and its first subscriber decline in almost a decade were disclosed less than a month ago, and now The New York Times reports that the company is speeding up the schedule for initiatives to reverse those trends.
After the study came out, Netflix co-CEO Reed Hastings changed his tune on ad-supported streaming, stating he would attempt to sort it out in the “next year or two.”
Meanwhile, according to a memo sent to workers, executives plan to begin cracking down on password sharing and introduce the ad tier for the last three months of 2022, as reported by the New York Times.
There is a reports given that all of Netflix’s streaming competitors, except Apple TV Plus, either provided or have announced ad-supported streaming tiers; this appears to be the case in the note, according to the New York Times reports, Netflix may bridge a gap of 10 to 20 million additional US users with its increased focus on password sharing.
All of these alterations occur at a time when Netflix is charging more than ever before. Standard HD streaming with two simultaneous streams has gone up by $1.50 to $15.49 per month, while the premium tier with four simultaneous streams has gone up by $19.99 per month in the US.