Netflix is discontinuing its lowest-priced ad-free subscription plan in the U.S., a move that may shift more viewers to its cheaper, ad-supported option.
On Thursday, the streaming giant from Los Gatos, California, announced in a letter to shareholders that it would phase out the basic ad-free plan, previously priced at $11.99 per month, in the U.S. and France. This follows the earlier removal of the basic plan in the U.K. and Canada.
The basic plan is no longer available for new U.S. subscribers on Netflix’s Plan and Pricing page. Although it was removed for new subscribers in July 2023, existing basic plan customers could retain their subscription unless they canceled or changed plans.
Current Netflix Subscription Options
- Standard with Ads ($6.99/month): Full HD streaming on 2 devices simultaneously, with downloads available on 2 devices.
- Standard ($15.49/month): Ad-free Full HD streaming and downloads on 2 devices, with an option to add one extra member outside the household for $7.99/month.
- Premium ($22.99/month): Ad-free Ultra HD (4K) streaming on 4 devices simultaneously, with downloads on 6 devices, and an option to add up to 2 extra members outside the household for $7.99/month each.
Netflix introduced the “standard with ads” tier in November 2022, which resulted in a 34% increase in ad-supported subscriptions from the previous quarter. The company reported a record 277.65 million subscribers across all tiers in the second quarter, a 16.5% year-over-year increase.
Impact on Current Basic Plan Subscribers
Subscribers in the U.S. and France currently on the Basic plan will need to select a new plan, Netflix stated. Affected members will start receiving emails about this change today.
Despite the removal of the basic, ad-free option, co-CEO Greg Peters emphasized that Netflix still offers a “very strong offering” with the $6.99 ad-supported plan. He highlighted benefits such as two streams instead of one, higher definition, downloads, and a lower price.
Financial Performance and Growth
In the second quarter of 2024, Netflix reported its third consecutive quarter of double-digit revenue growth, with $9.56 billion in revenue, a 16.8% increase from the same period in 2023. The company added over 8 million subscribers, driven by popular series like “Bridgerton” and “Baby Reindeer,” the live event “The Roast of Tom Brady,” and a crackdown on password sharing.
Future Plans and Market Response
Netflix plans to stop reporting membership numbers in 2025. In after-hours trading, Netflix shares initially dipped 2%.
Additionally, Netflix will begin releasing monthly video games, including one based on “Emily in Paris” later this month, and a multiplayer game based on “Squid Game” later this year.
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