Netflix Just Announced A New Subscription Option—And It’s Actually Affordable!

After years and years in which it dominated the streaming landscape, Netflix seems to be realizing that it can’t command extraordinarily high prices forever — especially given the fact that there’s so much more at-home streaming competition now. Does that mean the media giant is going to take a backseat to services like Amazon Prime, Hulu, and HBO? Not necessarily. But it does mean that change is going to have to happen if the brand wants to keep dominating the field — and that change is starting with a price announcement. Netflix just announced a new subscription option — and it’s actually affordable. Here’s everything you need to know.

Proving that few things in life are really free (or super affordable unless there’s a catch), Netflix announced that it is planning to offer a cheaper subscription plan. That caveat? You’ll have to be content with viewing ads while enjoying your favorite TV series or film. Netflix and Microsoft are teaming up to deliver this ad-supported subscription plan, though the details of it haven’t all been revealed and it’s still in its trial “early days.” According to the companies, there is “much to work though” still, though Netflix reportedly told its employees to expect this change to happen by the end of 2022.

There’s one good reason why Netflix is now trying a lower-priced subscription with ads on for size: it has lost a considerable amount of revenue over the past few years.For the first time in more than 10 years, the streaming company lost subscribers in its first quarter.