A new and cheaper version of Netflix is on its way. But there's one catch: Subscribers will have to sit through ads.
Current subscribers can keep the status quo, but next month the streaming service will launch an ad-supported tier that costs less than half of its standard plan.
For just $6.99 a month, Netflix users will have between 4 and 5 minutes of ads per hour, using 15 and 30 second commercials.
Netflix COO Greg Peters told reporters at a virtual press conference Thursday, “We believe that with this launch we will be able to provide a plan and a price for every Netflix fan.
“The most important thing for us is that we want to offer consumers choice and for them to figure out what is the best offering for them, and that could mean that some of our existing members shift off [of ad-free plans].”
According to the Hollywood Reporter, Netflix will not accept any “political or policy advertising,” much like competitors YouTube and Hulu.
The officially titled Netflix “Basic with Ads” will launch in 12 countries beginning in November.