Netflix will withdraw its ad-free economy plan from Canada and the UK

Netflix announced that during the second quarter of the year it will withdraw its ad-free economy plan from Canada and the United Kingdom.

Netflix Connect with your Subscription restructuring plans. The latest announcement made by the company is Withdrew its economic plan without announcing Canada and the United Kingdom during the second quarter of the year. The same It will cost $6.99 per month and will include ads. he The new basic plan without ads will cost $15.49.

Signature still No changes announced for US subscribers.

Netflix has indicated The importance of ad-supported plans to your income. This new strategy will help “contribute to Sustainable and healthy revenue growth in 2025 and beyond“.

Executives also noted that As they invest and improve the platformthey will ask the users Pay a little more. “This is how we promote Positive additional flywheel investment “To continue to improve and develop our services,” they detailed in the message.

Company– Netflix CEO Greg PetersHe stressed, in a video interview with investors, that: The ad show reached 23 million monthly active usershighlighting that the priority for this part is “hiking”. He also revealed that they are working on it Make the plan more attractive with improvements like increasing the resolution to 1080p, multiple streams, and the ability to download content.

Netflix added 13.1 million subscribers in the last quarter of 2023which raises Global total to 247 million. This reflects growth Continuous expansion and adaptation of the streaming platform in a competitive marketWhere you like improvements Stream in 4K and play online games represents a Value Added In their services.

What do analysts say?

according to Pranksyou own Netflix Reviewed by 41 analysts, broken down into 27 buys, 13 holds and 1 sell. he The average price target is $574.01 with a high forecast of $700 and a low forecast of $375.. The average price target represents a 1.98% change from Tuesday's close.

Sophie Huang is an analyst at CMB International Securitiesrecommend Buy with a target price of $613.30.

Bernstein analyst Laurent Yoonrecommend Maintaining target price of $490.

Netflix It closed Tuesday's session lower at $562.85. The 70 and 200 period moving averages remain below the price, the RSI is down at 73 points and the MACD lines are above zero.

Medium and long-term resistance is located at $579.64. Meanwhile, Ei indicators are mostly bullish.