Netflix is exploring lower-priced, ad-supported plans after years of resisting

CNBC
2022.04.19 22:30
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Hastings has long been opposed to adding commercials or other promotions to the platform but said Tuesday that it "makes a lot of sense.

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In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen.
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After years of resisting advertisements on its streaming service, Netflix is now "quite open" to offering lower priced tiers with ads, co-CEO Reed Hastings said Tuesday.

Hastings has long been opposed to adding commercials or other promotions to the platform but said during the company's pre-recorded earnings conference call that it "makes a lot of sense" to offer customers a cheaper option.

"Those who have followed Netflix know that I have been against the complexity of advertising and a big fan of the simplicity of subscription," Hastings added. "But as much as I am a fan of that, I am a bigger fan of consumer choice and allowing consumers who would like to have a lower price and are advertising tolerant to get what they want makes a lot of sense."

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