Netflix Rocked By Subscriber Loss, May Offer Cheaper Ad-Supported Plans

An anonymous reader quotes a report from Reuters: Netflix said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted more contraction ahead, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic. Netflix's 26% tumble after the bell on Tuesday erased about $40 billion of its stock market value. Since it warned in January of weak subscriber growth, the company has lost nearly half of its value. The lagging subscriber growth prompted Netflix for the first time to say it might offer lower-priced version of the service with advertising. [...] In addition to advertising-supported plans, the company is also looking to generate additional revenue from customers who share their account with friends or family outside their home.

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