Netflix is gradually discontinuing its lowest-priced ad-free subscription plan in the U.S., a move that might push more viewers toward its more affordable ad-supported option. The streaming giant, based in Los Gatos, California, announced in a recent letter to shareholders that the $11.99 monthly basic ad-free plan will be phased out in the U.S. and France. This follows similar moves in the U.K. and Canada.

Currently, the basic plan is no longer visible on the Plan and Pricing page for U.S. subscribers. While Netflix stopped offering this plan to new subscribers back in July 2023, existing customers who are still on the basic plan can keep it as long as they don’t cancel or switch plans.

Netflix offers a variety of subscription plans, including a $6.99 monthly option with ads, a $15.49 monthly standard plan with HD video quality and no ads, and a $22.99 premium plan with Ultra HD and no ads.

Since introducing the “standard with ads” tier in November 2022, Netflix has seen significant growth, with a 34% increase in ad-supported subscriptions from the previous quarter. The streaming giant now boasts a record 277.65 million subscribers across all tiers, reflecting a 16.5% year-over-year increase in the second quarter.

“We’re essentially offering subscribers a better experience: two streams instead of one, higher definition, downloads, and all at a lower price,” said co-CEO Greg Peters. “For those who prefer an ad-free experience, they can still opt for our Standard or Premium plans.”

Netflix reported its third consecutive quarter of double-digit revenue growth, with $9.56 billion in revenue for the second quarter of 2024, marking a 16.8% increase compared to the same period in 2023.

The company added over 8 million subscribers during the second quarter, driven by popular series like “Bridgerton” and “Baby Reindeer,” the live event “The Roast of Tom Brady,” and the impact of its password-sharing crackdown.

Here’s a breakdown of Netflix’s current subscription plans:

• Standard with Ads ($6.99 monthly): Stream in Full HD on up to 2 supported devices simultaneously, and download content on 2 devices at a time.
• Standard Plan ($15.49 monthly): Stream in Full HD and download videos on 2 supported devices at once. You also have the option to add 1 extra member who doesn’t live with you for an additional $7.99 monthly.
• Premium Plan ($22.99 monthly): Stream in Ultra HD (4K) on up to 4 supported devices simultaneously and download content on 6 devices at once. You can also add up to 2 extra members who don’t live with you for $7.99 each per month.

Netflix’s Subscriber Growth: Netflix added 8 million new subscribers in the second quarter of 2024, bringing the total number of subscribers to over 277.6 million—a 16.5% increase. However, the company has forecasted fewer subscriber additions in the current quarter (July-Sept.) compared to the same period last year when they added more than 8.7 million subscribers.

In April, Netflix announced that it plans to stop reporting membership numbers starting in 2025.

Following the release of these updates, Netflix shares initially dipped 2% in after-hours trading.

Upcoming Video Game Releases: Netflix is set to launch monthly video game releases, including one based on “Emily in Paris” later this month. Later this year, they will release a multiplayer game based on “Squid Game.”

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