Netflix is preparing to phase out its Basic plan

Netflix has said that it is looking to "retire" the ad-free Basic plan, starting with the U.K. and Canada in Q2 2024. This will presumably happen in the U.S. at some point as well, but it's unclear when. Netflix has also confirmed that anyone still on a $11.99 Basic subscription plan will have to switch to another Netflix tier.

With the new change this year, US subscribers will have three plans to choose from: Basic with Ads ($7 per month), ad-free Standard ($15.50 a month) or Premium ($23 per month). If you want to share your account with someone outside your household, there's an optional extra member fee of $8 per month. Netflix's ad-based plan is one of its most popular - and cheaper than rivals Disney Plus and Hulu - but we'll note not every title is available to stream on the plan. You must upgrade to access certain TV shows and blockbuster movies.

Netflix's ad-supported plans currently are available in the U.S., U.K., Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico and Spain. The Netflix Basic With Ads tier launched in November 2022, priced in the U.S. at $6.99 per month - less than half the price of the Standard plan ($15.49 per month).

Netflix cemented its place as the dominant streaming service with its Tuesday earnings. The company reported a record fourth quarter, adding 13.1 million subscribers and boosting its total to 260 million globally. Its closest rival, Disney+, is still trailing far behind with 150 million subscribers.

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