Netflix lost over million subscribers in the second quarter, may soon launch a cheaper plan

Now in an effort to attract new subscribers, Netflix will work with Microsoft to launch a cheaper subscription plan that includes ads. Microsoft will be responsible for designing and managing the platform for advertisers who wish to serve ads to Netflix users.

AFP analyst Ross Baines said the loss of Netflix subscribers was expected, but it remains a sore point for a company that relies entirely on subscription revenue from consumers. “Our challenge and opportunity is to accelerate our revenue and subscription growth and better monetize our large audience,” AFP news agency quoted the firm as saying.

After years of subscribers, Netflix lost 200,000 subscribers worldwide in the first quarter compared to the end of 2021, which plunged its stock. The streaming giant reacted by announcing the arrival of commercials on the service.

Netflix will charge for sharing passwords

Earlier, Netflix made it clear that the company will be tough on sharing logins and passwords, which allow many people not to pay to access the platform’s content. Chengyi Long, director of product innovation, said in a blog post on Monday, “It’s great that our members love Netflix movies and TV shows so much that they want to share them more often. But among today’s families, This sharing undermines our ability to invest in and improve our service.