With over 223 million subscribers globally, Netflix is one of the most popular video streaming services. Until recently, the streaming company only offered several paid plans, none of which had ads. However, that’s about to change. Netflix recently announced its plans to add an affordable ad-supported plan to its lineup. This is likely welcome news if you’re on a budget.
Steaming apps are a typical monthly expense for many households. If you don’t subscribe to at least one streaming service, you’re in the minority. While some households have fully ditched cable and only use streaming apps for entertainment, others pay for one or more streaming services to supplement their cable television plan.
Just how popular are streaming services? A 2022 Leichtman Research Group study found that 83% of U.S. households have at least one streaming video service.
Of those surveyed, 67% use Netflix. It’ll be interesting to see if Netflix will attract more users with the addition of its upcoming ad-supported plan.
Netflix’s new ad-supported plan will cost $7
On Oct. 13, Netflix officially announced that it would soon be offering an ad-supported plan, which will be available in 12 countries, including Canada and the United States.
The new plan, which is called Basic with ads, will be available to Americans on Nov. 3. It’ll be priced at $6.99 per month. Depending on where you live, you may also pay additional taxes.
With this plan, subscribers can watch HD TV shows and movies on one supported device at a time. There will be advertisements before and during shows and movies.
According to Netflix, each ad will be 15 to 30 seconds in length, and there will be an average of 4 to 5 minutes of ads per hour of content.
It’s worth noting that some TV shows and movies will be unavailable due to licensing restrictions. Subscribers will have unlimited access to Netflix games.
Netflix’s ad-free plans are priced between $9.99 and $19.99 per month, so this new subscription offers significant savings.
If you’ve held off on subscribing to Netflix because you’re trying to save money, this new plan could help you access entertainment content at a much more affordable price.
Four ways to save on streaming services
Everyday living costs are now much higher, and many people are searching for ways to trim excess spending. Are you looking for ways to save money? Here are some ways to save on streaming services:
- Choose ad-free plans: Netflix is new to offering ad-supported content. But other streaming brands like Hulu and Paramount+ also have budget-friendly ad-supported plans. If you don’t mind watching a few ads, they could be a win for your wallet.
- Rotate subscriptions: You can pause or cancel your streaming services any time. If you want to try multiple streaming services but don’t want to pay a high monthly price, rotating your subscriptions is an excellent way to keep more money in your bank account. When you get sick of one streaming service, you can pause it and try another.
- Don’t forget student discounts: If you’re a student, you may be able to save money by subscribing to lower-priced student plans.
- Get a free subscription through your wireless provider or cable company: Many wireless and cable companies include freebies like streaming services as a perk for eligible customers. Review whether your wireless or cable plan offers free streaming service access.
But that’s not all. Here are a few other ways to spend less on streaming services.
If you’re feeling stressed about your finances, you’re not alone. Many people are feeling the weight of ever-increasing prices. The good news is that if you’re willing to make some changes and are open to new ways of thinking and spending, you can improve your personal finance situation.
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