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According to the report, Netflix may offer advertisements this year

Netflix lawsuit by shareholders

According to the latest reports, Netflix may add an ad-supported tier before the year ends. the new York Times Wrote about the attempt to mumble at the dreamer. His excerpt indicates that executives have told employees that lower-priced membership levels may arrive in the last three months of 2022. People thought it might come soon. The murmur of a bottom-up plan organized by advertising has been around for years now. But, at the beginning of this year the volumes have picked up. With the company losing so many customers due to a variety of factors, it appears that the leadership is trying to correct course as quickly as possible. However, implementing an entirely different level is a tough task and it remains to be seen whether they can adhere to such a strict time-frame.

“Our revenue growth has slowed significantly in line with our results and forecasts,” Netflix executives previously told shareholders in a press release. In the letter, these decision makers then shifted the blame for the shortcomings to password sharing between users.

“Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration – when including accounts sharing a large number of households – combined with competition Revenue growth is creating headwinds,” he added. , “The large COVID boost for streaming obscured the picture until recently. While we work to redouble our revenue growth – through improvements to our service and more effective monetization of multi-household sharing – we will continue to grow our business.” Will keep operating margin at around 20%.”

All of this has led to shareholders suing Netflix. These individuals argue that they were misled about the company’s position and outlook for the future. In the document, shareholders allege that Netflix “made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations and prospects.” Notably, they also release slower than anticipated growth for streamers with the information available to them.

The document itself adds, “positive statements about the (Netflix) company’s business, operations and prospects were materially false and/or misleading and/or lacking a reasonable basis,” noting that they “reflect slow acquisition growth.” were doing” and “were experiencing difficulty” retaining customers.”

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Reference from comicbook.com

Drashti Jain