Netflix plans to offer cheaper, ad-supported tiers to consumers over the next year or two, the world’s largest on-demand video streaming service said Tuesday, as it looks to boost its subscriber base amid stiffer competition from rival firms.
The firm, which reported a loss of 200,000 subscribers in the first quarter, will introduce the ad-supported plans to give customers more choice, company’s co-chief executive Reed Hastings said on the earnings call.
The upcoming ad-supported plans will mark a major shift in how Netflix has previously viewed advertisement in its 25-year history, in which it has amassed almost 222 million paying customers.
Netflix has been asked repeatedly over the years if it would ever consider bringing ads to its platform, an idea it has always shot down. At a conference in 201 …
