Netflix is ​​teasing an even cheaper plan that could bring your monthly bill down to under £4.99

NETFLIX could launch even cheaper ad subscriptions in the future, according to Ted Sarandos, the head of the streaming giant.

The Stranger Things hitmaker will “probably” have “multiple tiers of ads” over time, he told a conference in New York.

The Crown is one of Netflix's big hits

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The Crown is one of Netflix’s big hitsCredit: AP

Netflix first introduced an ad-supported plan in November, bringing the cost down to £4.99/$6.99 a month if you’re willing to take some breaks.

Sarandos, 58, didn’t reveal if that would mean further price cuts.

But he suggests the product will “evolve.”

“We have multiple tiers today, so we’ll probably have multiple ad tiers over time, but nothing to talk about yet,” he said at the UBS TMT conference.

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“And the product itself will evolve quite dramatically, I suspect, but slowly, gradually.”

The Netflix boss also warned again that the days of sharing accounts with people outside of your household are coming to an end.

It comes after the company had a tough 2022, losing nearly a million subscribers between April and July as the cost-of-living crisis bites.

He said the ad plan will be a “softer landing” for those who hop off someone else’s account and open their own.

“Here’s the good news: the people we’re talking about all use Netflix, everyone loves Netflix,” Sarandos continued.

“Now it’s a matter of going back in and saying, ‘Hey, you were on your ex’s account, now you can get your own.

“They will see the value of Netflix in being happy to have their own account.”

Besides ads, users of the cheapest subscription tier can only get 720p video quality, and some titles are unavailable.

This is due to rights agreement issues with some TV shows and films.

Sarandos revealed that the missing content accounts for about 10 percent of viewers.

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https://www.thesun.ie/tech/9869979/netflix-cheaper-ad-supported-ted-sarandos/ Netflix is ​​teasing an even cheaper plan that could bring your monthly bill down to under £4.99

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