Netflix teases even cheaper plan that could slash your monthly bill below £4.99

NETFLIX could launch even more cheaper ad subscription plans in future, according to the streaming giant’s boss Ted Sarandos.

The Stranger Things hit-maker will “likely” have “multiple ad tiers over time”, he told a conference in New York.

APThe Crown is among Netflix’s big hits[/caption]

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

Sarandos, 58, didn’t reveal whether it would mean further price reductions.

But he suggest the product will “evolve”.

“We have multiple tiers today, so it’s likely we’ll have multiple ad tiers over time, but nothing to talk about yet,” he told the UBS TMT conference.

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

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

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

He said the ad plan will come as a “softer landing” for those jumping off another person’s account and starting up their own.

“Here’s the good news: The folks we’re talking about all use Netflix, all love Netflix,” Sarandos continued.

“Now it’s about going back in and saying, ‘Hey, you’ve been on your ex’s account now you can get your own.

“They’ll see the value in Netflix that they’re happy to have their own account.”

As well as ads, users on the cheapest subscription tier can only get 720p video quality, and some titles are not available.

This is due to rights agreement issues on some TV shows and movies.

Sarandos revealed that the missing content makes up about 10 per cent of viewing.

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