After long shunning advertising, Netflix pushed ahead as competition in the streaming television market intensifies and as consumers recoil from soaring inflation.
A subscription option subsidized by ads will debut in November in a dozen countries like Australia, Brazil, Britain, Canada, France, Germany, Italy, Japan, South Korea, Mexico, Spain and the United States as the streaming service strives to jumpstart growth, Netflix said.
According to reports, Basic with Ads subscriptions will be priced at $6.99 in the United States, three dollars less than a basic option without ads.
Video ads will be from 15 seconds to 30 seconds long.
According to reports, nearly all of the Netflix library will be available, with some offerings held back until licensing deals are renegotiated.
With the launch of cheaper, ad-supported subscriptions, Netflix and Disney+ are expected to bite into the revenue of traditional television channels.
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