Netflix Inc (NASDAQ:NFLX) expects its upcoming advertising-supported subscription plan to reach about 40 million viewers worldwide by the third quarter of 2023, the Wall Street Journal has reported.
The streaming firm told advertising executives in preliminary projections that 4.4 million "unique viewers" globally are expected to sign up for the new tier by year-end, with 1.1 million coming from the United States, the WSJ said, citing a document shared with advertising buyers.
The unique viewers metric is estimated to be higher than the number of subscribers for the ad-supported Netflix plan, since more than one person in a subscribing household will likely be able to watch the service, the newspaper noted.
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Netflix’s projections for advertisers covered a dozen launch markets, including Brazil, Mexico, Japan, the UK, France, Germany, Korea, Spain, Italy, Australia and Canada, the WSJ said.
Netflix lost 970,000 subscribers from April through June in a sign that the world's dominant streaming service is cracking under the pressure of high inflation, the Ukraine war and fierce competition, which prompted the company to announce plans for a cheaper, advertising-supported subscription option next year, as well as carry out job cuts.
Netflix said on Wednesday it had cut 30 jobs in its animation unit. In June, the company axed 300 employees, or 4% of its workforce.
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