Entertainment
Netflix Will Launch Lower-Cost, Ad-Supported Streaming Plans, Reed Hastings Says
Netflix, after years of insisting it would stick solely to subscription-only plans, is finally open to offering lower-cost, ad-supported packages, co-CEO Reed Hastings said on the company’s Q1 earnings interview.
The company expects to nail down its ad-supported streaming strategy over the next year or two, Hastings said, “but think of us as quite open to us offering even lower prices with advertising as a consumer choice.”
Hastings’ comments about Netflix planning to intro an ad-supported plan come as the company’s subscriber growth has hit a wall — in fact, Netflix lost 200,000 subs in the first three months of 2022 and expects to drop 2 million in Q2. Adding ad-supported options could give it a new pathway to growth; in addition, to boost the top line, Netflix is looking at ways to collect money from the estimated 100 million-plus households that currently use a shared password to stream without paying for it.
“Those that have followed Netflix know that I’ve been against the complexity of advertising and a big fan of the simplicity of subscription,” Hastings said. “But as much as I’m a fan of that, I’m a bigger fan of consumer choice. And allowing consumers who would like to have a lower price and are advertising-tolerant get what they want, makes a lot of sense.”
Hastings didn’t provide details on what Netflix’s ad-supported plans might cost. The streamer’s standard two-stream HD plan costs $15.49 per month in the U.S.
Several of Netflix’s biggest competitors offer cheaper, ad-supported plans, including Hulu, HBO Max and Paramount+. Last month Disney announced plans to launch an ad-supported Disney+ plan starting late in 2022 in the U.S.
“I don’t think we have a lot of doubt that [the ad model] works,” Hastings said, citing Hulu and HBO Max as well as the upcoming plans from Disney+. “I’m sure we’ll just get in and figure it out — as opposed to test it and maybe do it or not do it.”
With its advertising play, Netflix can avoid wading into data-privacy pitfalls that have become problematic for some internet companies by using third-party technologies that match ads with viewers without needing access to personally identifiable information, Hastings said.
Last month, Netflix CFO Spencer Neumann signaled the streamer’s willingness to consider adopting an ad-supported tier. “It’s not like we have religion against advertising, to be clear,” Neumann said at a Morgan Stanley investment conference. While “that’s not something that’s in our plans right now,” he said, “never say never.”
Popular Nollywood actor, Alex Ekubo, on Monday passed away after a long battle with cancer on Monday.
According to reports he died at age 40.
Ekubo was best known for his roles in the Weekend Getaway and the music video titled Johnny by Yemi Alade in 2013.
He had won many awards and accolades for his work in the entertainment industry and humanitarian efforts.
While his family and management are yet to issue a statement, tributes have been pouring in from fans and friends in Nigeria’s and Ghanaian films industry.
The Nollywood star made his acting debut in the 2005 production, Sinners in the House.
He graduated with a degree in law from the University of Calabar and broke into stardom in 2010 after competing in the Mr Nigeria competition.
In 2013, he won Best Supporting Actor in the Best of Nollywood Awards for his role as Andre Dikeh in Weekend Getaway.
Ekubo had received nine awards during his career, including Best of Nollywood’s Best Actor of the year (2016) and Best Lead Actor (2022).
Nigeria’s First Lady gave him a Special Recognition Award in 2018 for his contribution and development of the country’s entertainment industry.
In 2020, he was inducted into the UN’s Most Influential People of African Descent (MIPAD) under 40, for his efforts in entertainment and social development.
By Spectator Reporter
Mohammed Ismail Sherif, known in showbiz circles as ‘Black Sherif,’ on Saturday made history by joining the elite list of musicians to achieved the ‘sophomore’ feat by winning the Artiste of the Year title on two occasions.
Black Sherif first won the Artiste of the Year title in 2023, shortly after his explosive entry into the music scene.
On Saturday night, May 9, at the Grand Arena of the Accra International Conference Centre, the ‘Iron Boy’ hitmaker overcame a strong field of contenders, including Medikal, Wendy Shay, Sarkodie, Stonebwoy, and Diana Hamilton, to reclaim the crown.
On the night, Black Sherif was the biggest winner, walking away with a total of five awards.
In addition to the ultimate prize, he also won the Album/EP of the Year – Iron Boy, Songwriter of the Year – for his song ‘Sacrifice,’ Afropop Song of the Year – ‘Sacrifice’ and Hip-Hop Song of the Year – ‘Where Dem Boys.’
The win cements his legacy as the youngest artist to win the top honour twice, at just 24 years old, placing him alongside legends like Sarkodie, Stonebwoy, and VIP/VVIP.
Receiving his awards, the Konongo-born star expressed profound gratitude to God, his family, and his fans. In a standout moment of generosity, he requested that his GH¢100,000 sponsorship package from Guinness Ghana be shared with rising artists Arathejay and Gonaboy to support their upcoming projects and listening parties.
The 27th edition of the Telecel Ghana Music Awards (TGMA) also saw other notable wins, including Medikal taking home four awards, Kofi Kinaata and Kojo Blak securing two on a night that celebrated the continued global rise of Ghanaian music.
Wendy Shay, Keche, Moliy, Piesie Esther, Diana Hamilton, Kofi Owusu Peprah, Kwabena Kwabena and others also picked up awards.
Patrons enjoyed mind-blowing performances from Black Sherif, Wendy Shay, Lasmid, Okyeame Kwame, Ras Kuuku, Kofi Kinaata, Medikal, Samini and others.
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