*Netflix recently announced that commercials will soon be introduced on the platform.
The New York Times reports that executives informed staffers of the impending change in an internal memo. According to the outlet, a less expensive subscription tier with ads could be introduced and the end of 2022. The company also intends to crack down on password sharing around the same time.
The news comes amid reports that Netflix laid off 150 of its “wokest” employees on Tuesday, many of whom were Black, Asian and queer content creators — including Strong Black Lead, Golden, Con Todo and Most, all of which catered to marginalized communities, Variety reported.
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1. Netflix may introduce a lower-priced version of its streaming service that will include advertisements.
Co-CEO Reed Hastings says the move is aimed at boosting its subscriber base, noting that it “makes a lot of sense” to offer people a cheaper option. pic.twitter.com/tgU96twK8I
— BFM News (@NewsBFM) April 20, 2022
Per Daily Mail, the layoffs were carried out amid “a slow down in revenue and decline in subscribers.”
Common Sense with Bari Weiss’s weekly TGIF newsletter said: “The company framed the firings as “layoffs”—but 150 people doesn’t really make a dent for a company of 11,000 people. Those 150 happen to include, just by chance, some of the most Twitter-active social justice workers in the place.”
The streaming service recently announced a loss of 200,000 users over the first three months of 2022.
We reported earlier, via CNN, that the streaming giant, whose stock had already dropped more than 40% year-to-date, blamed the attrition on increased competition for viewers and Russia’s invasion of Ukraine. Netflix said its decision to pull out of Russia cost the company 700,000 subscribers.
This has prompted Netflix to cancel a number of animated shows and fire several executives following the company’s highly publicized subscriber loss.
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