Shulou(Shulou.com)11/24 Report--

CTOnews.com, April 19 (Xinhua)-- Netflix is upgrading its basic ad-included subscription program to support streaming video quality with higher resolution than the current 720p.

Netflix launched a "basic ad-included subscription" of $6.99 a month in the United States in November 2022, but this subscription level has been criticized for its limited video streaming resolution.

Since then, competitor Disney+ has launched a "Disney+ Foundation" advertising support program for $7.99 a month (currently about 55 yuan). Allows users to stream with FHD, HDR10, 4K Ultra HD, Dolby horizon and extended aspect ratio that supports IMAX enhancement.

In its earnings report for the first quarter of 2023, Netflix said it would improve the video quality of "basic ad subscriptions" to 1080p without any increase in fees. In addition, the number of simultaneous video streams will be increased from one to two.

Users in Canada and Spain will immediately use 1080p resolution and additional video streaming features, and the upgrade will be rolled out to all markets by the end of April, Netflix said. There are also more affordable subscription levels in the UK, the United States, Australia, Brazil, France, Germany, Italy, Japan and South Korea.

Netflix revealed that the basic Advertising subscription program has generated more revenue than standard subscriptions, which cost $15.49 a month and provide HD HD quality streaming. The company also announced that it was shutting down its mailing DVD service, which was the main source of revenue for Netflix when it first started nearly 25 years ago.

Netflix announced its results for the first quarter of fiscal year 2023. According to the report, Netflix's first-quarter revenue was $8.162 billion, up 3.7% from $7.868 billion a year earlier; net income was $1.305 billion, down 18% from $1.597 billion a year earlier; and diluted earnings per share were $2.88, compared with $3.53 a year earlier.

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