It has been a terrible year for Netflix (NASDAQ: NFLX) investors. A sudden loss of paid subscribers has weighed heavily on the stock, which has lost more than 60% of its value so far in 2022. But the streaming giant could see a major turnaround in its fortunes sooner rather than later.

Netflix announced earlier this year that it plans to introduce an ad-supported subscription plan in addition to its existing tiers. The plan was expected to go live in 2023, but reports suggest that Netflix may have moved up the timeline to arrest its subscriber losses. It is hotly anticipated that the ad-supported tier could be launched as soon as Nov. 1.

Though the company is tight-lipped about the updated timeline, it reportedly expects 4.4 million subscribers on its ad-supported platform by the end of the year. However, JPMorgan analyst Doug Anmuth believes that this is just the beginning, and introducing an ad-supported tier could supercharge Netflix's long-term revenue growth.

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Source Fool.com