Netflix upgrades its ad-supported Plan in terms of streaming quality and concurrent streams. Netflix has announced that the users subscribed to this plan will be able to see content in 1080p resolution (up from 720p) with support for two concurrent streams now to onwards.
Initially, these facilities are being introduced users in Spain and Canada. However, the news ad-supported plans for the other 10 markets will get these features with in a month.
“We believe these enhancements will make our offering even more attractive to a broader set of consumers and further strengthen engagement for existing and new subscribers to the ads plan,” the company said in its letter to investors.
In November 2022, the streaming company launched the ad-supported plan at a minimal cost of $6.99 per month and it’s already getting positive results.
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Neflix also added that it’s earning more average revenue per membership through the ad-supported plan from the US users than the standard plan that costs $15.99 per month.
The media company’s representative also added that the company has introduced new content to the ad-supported tier in the past quarter bringing it to “95% plus” parity with other higher-priced plans.
He mentioned that the ad-supported plan is also showing beneficial results for the business,
“This [plan] is all at a level that we believe is not just better for our members with a lower priced option but better for our business and we think we could do it with and are doing it in a way that’s, I would say, without being overly specific, think of it as like 50% or more incremental profit contribution to the business,” he said.
Netflix upgrades its ad-supported Plan is upgraded to facilitate and motivate the users of this plan.
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According to sources from ‘Insider Intelligence’, Netflix will bring in $770 million in ad revenues this year, and it will grow up to $1.9 billion in 2024.
Netflix is an American streaming company based in Los Gatos, California. This company was Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California.
Netflix includes original films and television series commissioned or acquired by the company, and third-party content licensed from other distributors.
Netflix is a also a member of the Motion Picture Association and this company is first to be a member.
