Netflix New Cheaper Options

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Netflix Aims To Add Cheaper Tier With Ads Before Year's End, Report Says

Netflix Aims to Add Cheaper Tier With Ads Before Year's End, Report Says

Netflix Aims to Add Cheaper Tier With Ads Before Year's End, Report Says

Netflix could roll out an ad-supported tier by the end of the year, according to a report by The New York Times, which cited a company note sent to employees. Netflix also indicated it was planning to introduce charges for password sharing, something the company is currently testing in a few countries, around the same time, according to the report.

The ad-supported tier is still in its early days, a person familiar with the matter said.

In public perception, the news will likely further cement Netflix's commitment to both moves. Last month, when Netflix reported its first subscriber loss in a decade, co-CEO Reed Hastings reversed years of dismissing any interest in advertising by revealing the company was looking at a cheaper, ad-supported tier for Netflix.

Currently, Netflix is testing password-sharing fees in Chile, Costa Rica and Peru. These additional charges let people with a standard or premium Netflix plan pay extra to share the account with up to two people who don't live in the same home. The test includes the ability to transfer an existing profile -- including its viewing history and personalized recommendations -- to an "extra member."

Adding advertising for a new Netflix tier is more complicated. Netflix, which doesn't have an ad-sales force, would need to hire people and create its own, acquire a company to absorb an ad-sales team, or forge a partnership with an existing entity.

The drop in viewers has buffeted Hollywood's confidence in streaming as the engine for future growth. Netflix's years of unflagging growth pushed nearly all of Hollywood's major media companies to pour billions of dollars into their own streaming operations. These so-called streaming wars brought about a wave of new services, including Apple TV Plus, Disney Plus, HBO Max, Peacock and Paramount Plus, among others, a trend that's complicated how many services you must use -- and pay for -- to watch your favorite shows and movies online.

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Netflix Aims To Start Charging You For Password Sharing Next Year

Netflix Aims to Start Charging You For Password Sharing Next Year

Netflix Aims to Start Charging You For Password Sharing Next Year

What's happening

After talking about and testing password-sharing fees for months, Netflix is aiming to roll them out in 2023.

Why it matters

It'll cost a lot of Netflix watchers more money: The company estimates more than 100 million households are streaming without paying directly.

Netflix is aiming to roll out a structure to charge accounts for password sharing next year, the company said Tuesday, ratcheting up its efforts to get more than 100 million freeloading households to start paying up as the company contends with sliding membership and intensifying competition.

After years of being relatively laissez faire about password sharing, Netflix said Tuesday that its "goal is to find an easy-to-use paid sharing offering that we believe works for our members and our business that we can roll out in 2023." It has previously said that it will implement password-sharing fees globally, including in the US.

So far, its password-sharing charges have been confined to tests in a handful of Latin America countries, where it is experimenting with two schemes.

In its first test, Netflix charges a fee to create cheaper "sub" accounts that are linked to a main subscription but have their own profile, login and password. People who have Netflix's cheapest plan can't add any of these sub accounts; every other membership can add up to two of these sub accounts. Next, Netflix said it would try a new method starting next month, which will charge to add more "homes" where you can stream Netflix in addition to one primary residence, with a limit on how many additional homes you can add depending on your membership level. The more you already pay for Netflix, the more households you can add.

Whether it's charging for a sub account or for an additional home, the fee is less than the cost of a standalone Netflix subscription.

Netflix's dominance of streaming video -- not to mention its years of unflagging subscriber growth -- pushed nearly all of Hollywood's major media companies to pour billions of dollars into their own streaming operations. These so-called streaming wars brought about a wave of new services, including Apple TV Plus, Disney Plus, HBO Max, Peacock and Paramount Plus, among others -- a flood of streaming options that has complicated how many services you must use (and, often, pay for) to watch your favorite shows and movies online.

Now, feeling the heat of intensifying competition to hold onto your attention and your subscription account, Netflix is pursuing strategies it previously dismissed for years. In addition to the password-sharing fees, Netflix also plans to launch cheaper subscriptions supported by adverting.

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Netflix New Cheaper Options