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The moment has finally come. Today, Netflix hosted a press call to reveal a preview of its new ad-supported tier, “Basic with Ads,” which will launch on November 3 in nine countries, including the U.S., and cost $6.99 per month, $13 less than Netflix’s Premium plan. This aligns with reports that the new plan would be $7-$9. Plus, Nielsen will be Netflix’s audience measurement partner, which is surprising since Nielsen has been criticized for reporting inaccurate streaming data. The cheaper tier will roll out across 12 markets to start. On November 1, Canada and Mexico subscribers are the first to try the new plan. It will then roll out to the U.S., the U.K., France, Germany, Italy, Australia, Japan, Korea and Brazil on November 3. Spain will be the last to experience the cheaper tier when it launches on November 10. Read More Here

Netflix surprised the world this week, saying it plans to finally address the rampant practice of password sharing. More than 100 million households are using a shared password, Netflix said Tuesday, including 30 million in the U.S. and Canada. But the video streamer doesn’t plan to simply freeze those shared accounts. Instead, the company will likely favor the setting of an extra fee for those accounts being used by multiple people outside of the home. Netflix’s plan to capture that lost revenue would start with an alert being sent to account holders whose passwords are being used by other households. The company has already started a test of this feature in Peru, Costa Rica and Chile. For accounts that are sharing a password across addresses, Netflix is charging an additional fee to add “sub accounts” for up to two people outside the home. The pricing is different per country — about $2.13 per month in Peru, $2.99 in Costa Rica, and $2.92 in Chile, based on current exchange rates. Read More Here