Netflix to create cheaper version of its service

11:49   20 April, 2022

Netflix plans to create a cheaper version of its streaming service with ads, Bloomberg reported.

Netflix CEO Reed Hastings discussed this idea in a conversation with investors. The decision was made due to the outflow of paid subscription holders.

The agency did not provide further details about the service's possible new approach to providing access to its products. This is said to be a big change for Netflix.

In a quarterly report that was on Tuesday, April 19, Netflix announced the loss of 200,000 paying customers at the beginning of 2022.

The suspension of our service in Russia and the curtailment of all Russian paid programs had an impact on net growth in paid services in the amount of minus 700 thousand, excluding this impact, net growth in paid services amounted to 500 thousand, the report said.