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| Netflix ad-supported service to launch in November | Netflix ad-supported service to launch in November |
| (32 minutes later) | |
| In 2021 Squid Game became the most-watched series globally in Netflix history | In 2021 Squid Game became the most-watched series globally in Netflix history |
| Netflix is launching a new streaming option with adverts in November, introducing a less expensive offering as it fights to keep viewers. | |
| The plan will be available in 12 countries including the UK, US, Canada, Mexico and Australia. | |
| The firm said it would charge £4.99 a month for the service in the UK, while it will cost $6.99 in the US. | The firm said it would charge £4.99 a month for the service in the UK, while it will cost $6.99 in the US. |
| Netflix has been losing customers as competition and cost of living pressures mount. | Netflix has been losing customers as competition and cost of living pressures mount. |
| The company lost more than 1 million subscribers in the first half of this year. It is due to provide an update of that figure to investors next week. | The company lost more than 1 million subscribers in the first half of this year. It is due to provide an update of that figure to investors next week. |
| 'Price for every fan' | 'Price for every fan' |
| Netflix's move into advertising is a big change for the company, which pioneered the idea of subscription-based streaming. | Netflix's move into advertising is a big change for the company, which pioneered the idea of subscription-based streaming. |
| But as more entertainment companies roll out online streaming platforms, it has had a harder time retaining subscribers, especially as households concerned about the rising cost-of-living look for ways to cut back. | But as more entertainment companies roll out online streaming platforms, it has had a harder time retaining subscribers, especially as households concerned about the rising cost-of-living look for ways to cut back. |
| In the UK, the least expensive plan without commercials starts at £6.99 a month. | In the UK, the least expensive plan without commercials starts at £6.99 a month. |
| "We're confident that ... we now have a price and plan for every fan," the company said in a press release. | "We're confident that ... we now have a price and plan for every fan," the company said in a press release. |
| "While it's still very early days, we're pleased with the interest from both consumers and the advertising community and couldn't be more excited about what's ahead." | "While it's still very early days, we're pleased with the interest from both consumers and the advertising community and couldn't be more excited about what's ahead." |
| Netflix loses almost a million subscribers | Netflix loses almost a million subscribers |
| Netflix ends secrecy over viewing figures | Netflix ends secrecy over viewing figures |
| Why some viewers are switching off Netflix | Why some viewers are switching off Netflix |
| Subscribers to the new offering should expect to see an average of four to five minutes of adverts per hour, the company said. | Subscribers to the new offering should expect to see an average of four to five minutes of adverts per hour, the company said. |
| Some films and TV series also will not be available due to licensing restrictions. | Some films and TV series also will not be available due to licensing restrictions. |
| The company said it planned to expand the offering to more countries over time. | The company said it planned to expand the offering to more countries over time. |
| Many of Netflix's competitors already combine streaming with adverts or have plans to. | Many of Netflix's competitors already combine streaming with adverts or have plans to. |
| Disney, for example, is due to roll out an advert supported service in December in the US. That plan will start at $7.99 a month. | Disney, for example, is due to roll out an advert supported service in December in the US. That plan will start at $7.99 a month. |
| Jeremi Gorman, Netflix's president of worldwide advertising, said it had nearly sold out all the available ad time for the launch, a sign of the interest from advertisers in reaching younger audiences that are increasingly turning away from traditional television. | |
| Netflix is asking people who sign up for the ad service for gender and birth date information as part of efforts to target ads. |