Netflix is adding a new advertisement friendly plan for customers who want to pay less and are willing to sit through ads. The streaming giant had reported its first subscriber loss in more than a decade leading to a share drop. From the past month the company has been involved in talks with various businesses to find ways around the price issue. On Thursday, Netflix announced that it selected Microsoft as its global advertising technology and sales partner and will introduce a ‘lower priced ad-supported subscription plan’.
“Microsoft has the proven ability to support all our advertising needs as we work together to build a new ad-supported offering,” said Greg Peters, Netflix’s chief operating officer.
In April, when the company first reported its subscriber loss, Netflix shares dropped by more than a third wiping $50bn of its stock market value. Last month, the firm also announced 300 job cuts as it grappled with the drop in customer numbers.
