🧵 1. Netflix removes cheapest ad-free plan in the U.S. and U.K., aiming to drive sign-ups for its new ad-supported option. #fintech
🧵 1. Netflix removes cheapest ad-free plan in the U.S. and U.K., aiming to drive sign-ups for its new ad-supported option. #fintech
🧵 2. The $9.99 basic plan without ads is no longer available for new or returning members, leaving $6.99 "standard with ads" plan as the cheapest option.
🧵 3. Netflix's CFO revealed that the ad-supported plan offers higher economics than the basic plan.
🧵 4. Former co-CEO admits slow adoption of ads due to focus on digital competition, while co-CEO hints at multiple ad-supported tiers in the future.
🧵 5. Netflix looks to advertising to increase streaming profits, following Disney's strategy. Ad-supported plan has gained 5 million users since launch.
🧵 Read more at: https://www.cnbc.com/2023/07/19/netflix-gets-rid-of-cheapest-basic-ad-free-option-in-the-us-uk-.html