Netflix subscribers are to expect on-screen adverts any time soon. This is part of innovations being considered by the company to make up for its shrinking subscribers.
Netflix Thursday announced it laid off 300 of its employees – the second of such in recent times.
Netflix in a statement on Thursday said, “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth.”.
The company said it lost 200,000 subscribers globally in February 2022. It is also projecting a further 2 million subscriber loss in the upcoming quarter.
The company’s reason for the subscribers’ drop include increased competition, the economy, the war in Ukraine, and the large number of people who share their accounts with non-paying households.
To offset subscriber losses, Netflix is also considering adding advertising to the service in return for a lower-priced subscription.
On Thursday, Netflix’s chief executive, Ted Sarandos, said the company is in talks with several companies for advertising partnerships.
“We’re talking to all of them right now,” Sarandos said.
