The new plan comes at a time when a high level of inflation is eating into disposable incomes at households and streaming services seem one of the first luxuries consumers are choosing to cut down on.
Netflix Inc.’s turnaround plan is winning over investors, who have turned one of the worst-performing stocks early this year into one of the best in the second half.
The catalyst for the comeback has been the streaming-video company’s introduction of a lower-priced, advertising-supported subscription tier, which is expected to help the Los Gatos, California-based company to attract new customers and retain old ones.
