Current:Home > MarketsCharles H. Sloan-Netflix wants to retire basic ad-free plan in some countries, shareholder letter says -EverVision Finance
Charles H. Sloan-Netflix wants to retire basic ad-free plan in some countries, shareholder letter says
TrendPulse Quantitative Think Tank Center View
Date:2025-04-10 00:39:12
Netflix users in some countries will soon have Charles H. Sloanto pay more to watch TV and movies without advertisements.
In a shareholder letter from Tuesday, the streaming service said it's looking to "retire" its cheapest ad-free plan in "some of our ads countries." Netflix will implement the change in Canada and the U.K. in the second quarter of the year before "taking it from there," the letter said.
The company did not specify when (or whether) the change would impact U.S. subscribers.
"Our aim is to make ads a more substantial revenue stream that contributes to sustained, healthy revenue growth in 2025 and beyond," the shareholder letter read.
There could be more price hikes down the line.
"As we invest in and improve Netflix, we'll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service," according to the shareholder letter.
Last year, Netflix stopped allowing new and returning subscribers in the U.S., U.K. and Canada to select its basic plan. American subscribers who were grandfathered into Netflix's basic plan saw a price hike last year after Netflix raised that plan's price from $9.99 to $11.99 a month. The company also hiked the price of its costliest plan in the U.S. to $22.99.
The video streaming service also started a crackdown on password sharing last year.
The current lowest-tier plan available for Netflix newcomers is the $6.99-per-month ad-supported plan. Some TV shows and movies are not available under the plan. The cheapest ad-free plan for newcomers is the $15.49-per-month standard plan.
According to Netflix, the ads plan currently accounts for 40% of new sign-ups in ad markets. The company said it added 13.1 million subscribers last quarter, boosting its total to around 260 million globally.
- In:
- Netflix
Aliza Chasan is a digital producer at 60 Minutes and CBSNews.com. She has previously written for outlets including PIX11 News, The New York Daily News, Inside Edition and DNAinfo. Aliza covers trending news, often focusing on crime and politics.
TwitterveryGood! (9941)
Related
- Could your smelly farts help science?
- These Best All-Inclusive Resorts Make Girls’ Trip Planning as Fun as the Vacay
- Alain Delon, French icon dubbed 'the male Brigitte Bardot,' dies at 88
- What Scott Peterson Believes Happened to Laci Peterson 20 Years After Murder Conviction
- North Carolina justices rule for restaurants in COVID
- Paul Mescal Seemingly Confirms Romance With Gracie Abrams During London Outings
- Girl safe after boat capsizes on Illinois lake; grandfather and great-grandfather found dead
- Aces coach Becky Hammon says Dearica Hamby's mistreatment allegations 'didn't happen'
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Chappell Roan Calls Out Entitled Fans for Harassing and Stalking Her
Ranking
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Authors sue Claude AI chatbot creator Anthropic for copyright infringement
- As much as 10 inches of rain floods parts of Connecticut. At least 1 person is dead
- 19-year-old arrested as DWI car crash leaves 5 people dead, including 2 children, in Fort Worth: Reports
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Charlie Sheen's Twin Sons Bob and Max Make Rare Appearance With Mom Brooke Mueller
- Kerry Washington, Tony Goldwyn, Mindy Kaling to host Democratic National Convention
- Fantasy football draft cheat sheet: Top players for 2024, ranked by position
Recommendation
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
Arizona truck driver distracted by TikTok videos gets over 20 years for deadly crash
Are your hands always cold? Some answers why
How many points did Caitlin Clark score today? Star shatters WNBA rookie assist record
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
Teen Mom’s Farrah Abraham Shares Insight Into 15-Year-Old Daughter Sophia’s Latest Milestone
'Tiger King' made us feel bad. 'Chimp Crazy' should make us feel worse: Review
NFL preseason winners, losers: QBs make big statements in Week 2