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Netflix will scrap its basic plan in Australia in a major blow to subscribers.
The streaming giant will scrap its plan in a number of countries, including Australia, from next week.
The basic plan costs $10.99 a month and is the cheapest option for subscribers – but the low price tag comes at the cost of ads interrupting the shows.
Netflix (pictured) has announced it will axe it’s cheapest subscription plan for viewers in Australia
The streaming service said the change will take affect in Australia from Monday October 23.
The move comes as the company looks to grow it’s revenue from advertising by locking customers onto streaming plans with ads.
The company said in a statement announcing it’s financial results in the US recently, that the measure reflects it’s efforts to boost revenue by including ads on it’s subscription plans.
‘Building our ad membership so that Netflix becomes an essential buy for advertisers, which is key for advertising to become material to our business,’ the statement says.
Netflix recently scrapped it’s basic plan offering across several countries in the US, UK, Canada and Italy earlier this year for those who began subscribing to the service.
The platform’s ‘Basic with ads’ plan was only introduced in Australia in November 2022 after it was first launched in Canada and Mexico earlier that month.
The company estimates that the number of subscriptions to the platform has grown by a massive 70 per cent ‘quarter-over-quarter’.
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This has led to a 30 per cent uptake in new viewers who have signed up to the platform across 12 countries according to the company.
The major change will come into effect next Monday across the country with viewers (pictured) who are currently on the basic plan forking out $10.99 a month for the service
Prices will also be hiked on several other plans across the UK, US, and France which are set to take effect immediately.
Currently consumers in Australia can choose from three plans which are basic, standard and premium subscriptions.
The prices for each of the plans are $10.99, $16.99 and $22.99 a month respectively.
Netflix announced in May this year it was cracking down on subscription sharing in Australia with new technology to stop password sharing.
The change meant families or friends in different locations could no longer watch Netflix using the same account.
Despite the major change, the number of viewers subscribing to Netflix has fallen significantly.
Research firm Telsyte’s annual industry survey showed the number of subscribers had dropped three per cent to 6.1 million over the past year.
The streaming giant (pictured) said the move is part of the company’s plans to boost revenue by including ads on most of it’s subscription plans.
Netflix has also been forced to cut the price of subscribing to the platform in an attempt to attract more viewers in markets where numbers are underwhelming.
A spokesperson from Netflix told MailOnline earlier prior to the company’s latest announcement that the company is’ always exploring ways to improve our members’ experience’.
