In an unexpected move, streaming giant Netflix Inc. (NASDAQ:NFLX) has decided to cease its most budget-friendly, ad-free subscription plan in several countries, including Australia.
What Happened: Netflix is discontinuing the Basic plan, previously priced at $10.99 monthly for Australian users. This change will affect new and returning subscribers, but current users will retain their existing plans, reported 9News.
Netflix mentioned in a shareholder letter that company growth is fueled by improvements in their services, such as dual streaming, high-definition video, and a programming catalog comparable to other plans.
Earlier, discontinuing the Basic plan in the U.S., U.K., Italy, and Canada reportedly increased the uptake of their ads and Standard plans.
The company plans to initiate the same changes in Germany, Spain, Japan, Mexico, Australia, and Brazil next week. Moreover, they aim to launch downloads next month and incorporate the ads plan in device ...