Netflix Announces Ad-Supported Plan

We’ve all known Netflix to be an ad-free video streaming service, since basically it started back in 1997 when it just did mail in DVD’s (remember those?). From November 3rd, they will be unveiling a new ad supported service which is said to launch at a lower price point of $7 per month. As compared to the current $15 per month plan it widely offers now.

Netflix’s ad-supported option will also be rolling out in Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain and the U.K., according to a Thursday post by the company’s chief operating officer, Greg Peters. – AP News

Netflix stock price has been on a steady decline for the past 11 months, a symptom of its decline in customer base. New customer numbers should be available on Tuesday, Oct 18th for the July-September period. The company has said it looks to have a million more from their previous results, which showed a decline of 1.2 million members. Whether or not they will meet, or beat, those numbers will be known in the coming days.

With the likes of Amazon, Apple and Disney, not too mention more people actually going back to the cinemas like AMC Theatres, the competition for video streaming and movie going will only be ramping up with some big blockbusters coming up in the next few months.

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