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Netflix's New Ad Tier Has Been Revealed. Is the Stock a Buy?

TheMotleyFool

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Netflix's New Ad Tier Has Been Revealed. Is the Stock a Buy?: https://g.foolcdn.com/editorial/images/704900/group-of-teens-watching-tv.jpg

Netflix (NASDAQ: NFLX) built the first primary streaming service without the help of an ad-supported tier. In fact, founder and co-CEO Reed Hastings has often expressed his disdain for ads on the platform.

However, Netflix has seemingly switched to the dark side with its new, ad-supported tier. Starting Nov. 3, Netflix will launch its new "Basic with Ads" package that costs $6.99 a month and is available in 12 countries.

This announcement (although not a surprise, as Netflix has been planning this for a while) can affect the company's trajectory. With the stock down over 60% year to date, could this be the shot in the arm Netflix needs to rebound?

Source Fool.com

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