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Netflix to Discontinue its Basic Ad-Free Plan in Canada and the UK
Netflix discontinues its $11.99 ad-free plan in Canada and the UK, emphasizing a strategic shift, price changes, and a WWE deal.
In a strategic move, Netflix is discontinuing its $11.99 per month Basic ad-free subscription in certain countries, starting with Canada and the UK in Q2 2024.
During its recent earnings report, Netflix disclosed the retirement of its Basic plan in regions where ad-supported plans are available. While the $11.99 tier is no longer open for new or returning members, the change is set to affect existing subscribers in Canada and the UK. Consequently, the $15.49 monthly subscription becomes Netflix's most affordable ad-free plan, representing a notable price increase.
According to co-CEO Greg Peters, Netflix's ad-supported offering has reached 23 million monthly active users, emphasizing the company's focus on scaling this service. Enhancements to the ad-supported plan include last year's improvements, such as upgraded resolution to 1080p, multiple streams, and downloadable content. Peters mentioned a strategic shift in Netflix's plans and pricing structure in various markets.
Despite the alterations, Netflix reported an impressive addition of 13.1 million subscribers in the final quarter of 2023, bringing its global total to 247 million.
In response to the evolving landscape, Netflix emphasized its commitment to investing in and improving its service, occasionally necessitating incremental charges to reflect these enhancements. This approach aligns with the company's previous decision to raise prices for its Basic and Premium plans in the preceding year.
In a surprising move, Netflix recently secured a 10-year deal to broadcast WWE's Monday Night Raw, marking its significant entry into the live sports arena. The $5 billion agreement signifies a monumental shift for the streaming giant, which had initially committed to "sports-adjacent" content. Under the terms of the deal, Netflix will exclusively stream Monday Night Raw for a decade, with an option to terminate the contract after five years.
This deal with WWE follows Netflix's ventures into live sports broadcasting, starting with a golf competition in November featuring PGA pros and F1 racers. Additionally, the streaming service revealed plans to host a live tennis match in March featuring renowned players Rafael Nadal and Carlos Alcaraz.
In summary, Netflix's decision to retire its Basic ad-free plan in select countries, its strategic pricing shift, and a landmark deal with WWE reflects the streaming giant's dynamic approach to adapting to market trends and providing diverse content offerings.
