(Reuters) –Netflix Inc could introduce its lower-priced ad-supported subscription plan by the end of the year, earlier than originally planned, the New York Times reported https://www.nytimes.com/2022/05/10/business/media/netflix-commercials.html?searchResultPosition=1 on Tuesday.
Netflix did not immediately respond to a Reuters request for comment.
The company last month posted its first loss of subscribers in more than a decade and signaled deeper losses ahead, a stark shift in fortune from the boom it recorded during the pandemic.
Chief Executive Reed Hastings said in April’s earnings call that the company would “figure out (the plan) over the next year or two.”
Netflix has also said it would crackdown on users sharing passwords as competition and password sharing were making it harder to grow.
(Reporting by Akash Sriram in Bengaluru; Editing by Aditya Soni)