Enlarge / Netflix CEO Reed Hastings at the Milken Institute Global Conference in Beverly Hills, California, on October 18, 2021. (credit: Getty Images | Bloomberg)
Netflix plans to launch a lower-priced subscription tier with ads, CEO Reed Hastings said yesterday in an interview to discuss first-quarter earnings . Netflix revenue growth is slowing amid a loss in subscribers, and the company’s stock price was down about 37 percent today as of this writing.
Hastings said that a good ad-supported tier is something “we’re trying to figure out over the next year or two” plus that Netflix is “quite open to offering even lower prices with advertising as a consumer choice. ”
“Those who follow Netflix know I’ve been against the complexity of advertising in addition to a big fan of the particular simplicity of subscription, ” Hastings said. “But as much as I’m a fan of that, I’m a bigger fan of consumer choice, and allowing consumers who would like to have a lower price and are advertising-tolerant get what they want makes a lot of sense. ”
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