Netflix eyes $7-$9 per month price for ad-supported video plan - report
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Netflix (NASDAQ:NFLX) is planning to price a new advertising-supported version of its service at $7-$9 per month, with a customer-friendly low load of ads (at least at first), Bloomberg reported.
That price is roughly half the price of its most popular Standard plan, which comes for just under $15.50 per month with no advertising.
Meanwhile, the "ad load" per hour (for now) will be about four minutes per hour - far less than broadcast and cable television (which tend to hit 10-20 minutes per hour) and more in line with ad-supported streaming peers. And it plans to show ads before and during some programs, but not afterward, according to the report.
Netflix (NFLX) has signaled that it will take its entry into ad support slowly, as it's an unfamiliar business (it's partnered with Microsoft on sales/delivery), and it will likely do some soft-launching toward the end of the year. Alongside its last earnings report, the company said it's targeting launch of the ad tier "around the early part of 2023."
Netflix's aim toward $7-$9 per month vs. its $15.49 Standard plan actually marks something of a cut - and a move in the opposite direction from rival Disney+ (NYSE:DIS), which raised the price of its ad-free plan by 38% (to $10.99 per month), and said it would price its ad-supported plan (starting Dec. 8) at $7.99 per month, the previous price for its ad-free plan.