After losing subscribers in the first half of the year, Netflix announced on Thursday that it would launch a streaming package with advertising for about $7 per month in November.The “Basic with Ads” plan’s $6.99 price is $3 less than Netflix’s most affordable tier without commercials. Over the course of ten days, the new option will be introduced in 12 nations, including the US, Brazil, Germany, Japan, and Korea.
According to Netflix, subscribers to the plan will view four to five minutes of advertising every hour. The advertising for newly released movies will be kept to a minimum to protect the viewing experience.According to Netflix Chief Operating Officer Greg Peters, because to licencing constraints, 5% to 10% of Netflix’s content will not be available on the ad-supported substitute.In late afternoon trade, Netflix shares were up 5.4% to $232.86. Before the statement on Thursday, the company’s shares had dropped 62% this year
