Sarandos onstage at the Cannes Lions advertising festival. | Photo by Eamonn M. McCormack/Getty Images for Cannes Lions
Netflix’s co-CEO Ted Sarandos has confirmed that the company plans to introduce an ad-supported tier to its streaming service in an interview at the Cannes Lions advertising festival, reports The Hollywood Reporter. The New York Times reported last month that the company is aiming to roll out the new tier by the end of 2022.
“We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising,’” Sarandos said. “We [are] adding an ad tier; we’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.’”
The streaming service has been widely expected to launch an ad-supported subscription…