Netflix reigned supreme as a streaming platform for almost a decade. The streaming giant held a virtual monopoly for several years, thanks to their output of solid shows and mostly good plans. Netflix will also launch a cheaper ad-supported plan later this year.

Last month, Netflix revealed that in their first-quarter 2022 earnings release, the company lost 200,000 subscribers. They also expect to lose 2 million subscribers in the current quarter.

This was not all, as Netflix was hit with a lawsuit from shareholders after their huge drop in subscribers. Earlier this year, Netflix even lost over $50 billion in value overnight.

According to The New York Times, Netflix informed employees of a Q4 target date for a cheaper plan that will include ads. No details regarding Netflix’s AVOD tier have been disclosed as of yet.

In the U.S., Netflix’s standard two-stream HD plan is $15.49/month. Netflix faces huge completion from the likes of Hulu, HBO Max, NBCUniversal’s Peacock and Paramount. We will have to wait and see how Netflix’s AVOD endeavour will turn out to be.

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Subhojeet Mukherjee

Subhojeet has been a massive fan of professional wrestling for over 22 years, since the early days of the Monday Night Wars. Aside from wrestling, he also is into TV shows, movies, Anime, novels and a lot of music.

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