Netflix confirms launching ad-supported cheaper subscription plans
India TodayNetflix’’s ad-supported subscription plans are not a figment of our imagination after all, the company has confirmed rolling them out soon. The company CEO Ted Sarandos has confirmed that it is planning to introduce an ad-supported tier to its list in an interview at the Cannes Lions advertising festival, The Hollywood Reporter confirms. “We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising,'” Sarandos said Thursday, during the Cannes Lions stage with Sway podcast host Kara Swisher. '” Netflix is currently the largest streaming giant with close to 222 million subscribers, but the loss in paid subscribers in the first quarter of 2022 has impacted the company in a huge way. As per The Variety, Netflix confirmed that it has “sadly let go of 300 employees”.The report reveals that most job losses have taken place in the US and have happened across multiple business divisions.