Netflix is considering cheaper subscription rate with ads after shedding 200k customers this year

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Netflix is considering new methods to attract consumers, after losing subscribers for the first time in over a decade.

Around 200 thousand people have left the platform in the first quarter of 2022.

Netlix's exit from Russia and price hikes are believed to be among the reasons for the drop in subscription levels.

Another reason bosses are citing is the number of accounts whereby the password is shared, something which it is reportedly looking to clamp down on.

Technology Correspondent Jess Kelly says competition in the market is also a factor, with the likes of Amazon Prime, Disney+ and NOW giving consumers more choice than ever.

Another idea reportedly being considered is introducing lower-priced models, where subscribers also have to contend with advertising.

However speaking on Bloomberg, reporter Geetha Ranganathan thinks it's inevitable:

"You're going to have to do it, not just to acquire new subscribers, maybe even to retain your existing subscribers as well as you have all these inflationary pressures building."

The likes of Disney+ and HBO Max have already adopted similar models, with Netflix analysing if it has worked.