Netflix is set to launch a cheaper ad-supported tier in November.
The streaming company had planned to start offering the service in 2023 but it has been moved forward as the service attempts to stem the loss of more than a million subscribers so far this year.
Reports claim that Netflix's service will launch in the US, UK and various other nations and is expected to be priced between $7 (about R121) and $9.
The ad tier is an addition to the existing tiers and means that current Netflix subscribers will not see any advertisements on the platform.
A spokesperson for the streamer insists that the company has not made any decisions yet.
They said: "We are still in the early days of deciding how to launch a lower priced, ad-supported option and no decisions have been made.
"So this is all just speculation at this point."
Netflix announced in July that it would partner with Microsoft for the ad technology and as a sales partner globally with Greg Peters, Netflix’s chief operating officer and chief product officer, claiming there had been "a lot of excitement" in early conversations with advertising agencies.
He said: “I think for them … they’ve wanted to connect with the titles, incredible content that [Netflix chief executive, Ted Sarandos's] team was putting out there. And I think we also share a perspective on what is a great experience for consumers and for advertisers.
“So when you think about the kind of advertising we see, frequency caps, what’s a great ad experience, we’re noticing a high degree of alignment there.
“So that enthusiasm, that alignment is increasing sort of my optimism and the excitement that I’ve got to basically get this out there because I think it’s going to be a win-win-win for all parties involved.”
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