As the cost of living crisis continues to grip the nation, many of us are having to cut back on luxuries to help save for the essentials.
With less chances to dine out, hit the town or hang with friends, many of us are turning to our good ol’ tried and tested friend Netflix to just relax and chill at home.
But with the cost of a subscription to the streaming service now also having increased – many families have been left feeling the pinch here too.
Fear not though telly fans, because Netflix has you covered with a brand new streaming tier that promises to cost less – in exchange for showing you some adverts.
Up until now, the streaming giant has famously been ad-free, making those late night bingeing sessions that much easier without the constant interruption of sponsored content.
However, the change is merely an option for fans that don’t mind adverts in exchange for a cheaper price, with the company hoping that by including the tier it will tempt in customers who may previously have been deterred by the cost.
The news was announced by Netflix’s co-CEO Ted Sarandos during an industry event on Thursday.
According to the Hollywood Reporter, Ted said: “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.”
“We 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.’”
No official date for the rollout has yet been announced for the new, cheaper tier – however earlier this month the cheapest option for basic streaming on one screen at a time rose for the first time in ten years, from £5.99 to £6.99.
The next option, ‘standard’ which allows viewers to watch two screens at once, also increased from £9.99 to £10.99.
While the most expensive option, the ‘premium’ plan which gives viewers access to four screens at once, has risen from £13.99 to £15.99 a month.
The price increase has also come amid a tighter crackdown on password-sharing in a bid to encourage more subscribers to sign up to the service.
“When we were growing fast, it wasn’t a high priority to work on [account-sharing],” co-CEO Reed Hastings told shareholders in April. “And now we’re working super hard on it.”