Netflix has said that it could soon introduce adverts as part of its streaming service after the company is said to have lost hundreds of thousands of customers.
The US streaming giant increased its monthly prices only last month however the move, as expected, did not go down well with customers with many cancelling their monthly Netflix bills.
The news of adverts comes as around 200,000 people are said to have cancelled their direct debit between January and March which was stated in its quarterly report released on Tuesday (April 19), as reported by the Mirror.
READ MORE - Five supermarket money saving hacks all customers need to be aware of
The near quarter of a million subscriber loss means Netflix missed its growth projection by 2.7 million customers and it expects to lose two million more customers worldwide this quarter.
Its release also caused shares to plunge by 25% in trading marking the first time that subscriber numbers had dropped since the streaming service became available globally six years ago.
The company, who is enduring a difficult spell around its subscribers, has blamed password sharing among its members for the poor performance with it estimating that the service is being shared with an additional 100 million homes who are not paying but sharing.
Chief executive Reed Hastings says the company is testing password-sharing subscription models however those who are piggy-backing on someone else's Netflix account can breath easy for the time being, as the company's boss has said reducing sharing “wasn’t a high priority to be working on.”
Mr Hastings did not give details of how password sharing might be addressed and whether there would be a limit on the number of people who can use an account.
Netflix's boss has said a cheaper subscription plan with adverts is now being considered.
According to the Wall Street Journal Mr Hastings added: "Those who have followed Netflix know that I’ve been against the complexity of advertising and a big fan of the simplicity of subscription. But as much as I’m a fan of that, I’m a bigger fan of consumer choice."
The firm offered no additional information about how a cheaper ad-supported version would work or how much it would cost.
Taking to social media to make their feelings clear one said: "The day I get an advert on something I'm paying for, I will cancel. What's happened with Netflix? They used to be the platform everyone had and everyone went to."
Another commented: "To consider taking adverts due to loss in subscribers.....if they do this I'll definitely unsubscribe, best thing about Netflix is advert free."
A third tweeted: "I'm a big fan of Netflix tbf and one of the big plusses is that it is (and always has been) advert free and no premium content, once you pay the subs you are done for the year , no chance of running up extra cost, no interruptions to films & series."
