Streaming giants Netflix has announced that they will launch a new streaming option, which includes ads for a discounted price as they face a fight to keep viewers.
According to reports, The company lost more than one million subscribers in the first half of this year, with an update on that figure imminent.
The massive loss of subscribers comes amid the cost of living prices, with millions of households looking to scale back on expenses.
"We’re confident that ... we now have a price and plan for every fan," the company said in a press release.
"While it’s still very early days, we’re pleased with the interest from both consumers and the advertising community and couldn’t be more excited about what’s ahead."
Which countries are included?
This offer will extend to just 12 countries worldwide. The countries that can access this new service are Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, the UK and the United States.
Netflix said that more countries will be offered this service in the future.
How much is the offer?
The offer, which will be launched on November 3 2022 will be £4.99 in the UK, which is currently £2 cheaper than the current cheapest offer of £6.99.
What’s different about the new service?
According to the official Netflix website, they say “Video quality up to 720p/HD (now for both our Basic with Adverts and Basic plans); average of 4 to 5 minutes of adverts per hour; a limited number of films and TV series won’t be available due to licensing restrictions, which we’re working on; no ability to download titles.”
How will the ads work?
It seems that people choosing this discounted offer will not be inundated with ads. The company said that Subscribers to the new offering should expect to see an average of four to five minutes of adverts per hour.
On their website, they say “At launch, adverts will be 15 or 30 seconds in length which will play before and during series and films”.