On November 1, 2022 Netflix launched its ad supported tier. This was a high profile about face for a first move in the OTT space - CEO Reed Hastings had announced on June 2, 2015 that "No advertising coming onto Netflix. Period" Reed Hastings used to say the biggest enemy of Netflix was sleep – turns out it was other streamers (HBO, Amazon, Disney+), the cost of content and lack of growth due to price.
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