Netflix is done bingeing.

According to a newsletter from Puck News, the streaming giant is looking to move on from the binge-release model to weekly releases like its competitors, which include Disney+, HBO Max, Prime Video, Hulu, Apple TV+, Peacock and more. According to the newsletter, Netflix CEO Reed Hastings has previously been hesitant to move away from the binge model, though now he appears to have changed his mind.

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As of right now, Netflix uses the weekly release model for reality competition shows like The Circle and Love Is Blind. However, the shift to weekly for other Netflix original series is intended to be a way to keep viewers watching the streamer for an extended period of time, whereas big releases like Stranger Things and, more recently, The Sandman are often binged all at once. Netflix has experimented with other release models, however, with both Ozark Season 4 and Stranger Things Season 4 being released in two parts.

This news comes as Netflix moves to launch a lower-priced, ad-supported tier for its subscribers, with plans for it to become available in several countries, including U.S., Canada, U.K., France and Germany, on Nov. 1. The ad-supported subscription option was announced in April 2022 during a quarterly earnings call, which Netflix COO called "an exciting opportunity" for the streamer.

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"Those who have followed Netflix know that I have been against the complexity of advertising, and a big fan of the simplicity of subscription," Hastings said at the time. "But as much as I am a fan of that, I am a bigger fan of consumer choice. And allowing consumers who would like to have a lower price, and are advertising-tolerant get what they want, makes a lot of sense. Think of us as quite open to offering even lower prices with advertising as a consumer choice." He also emphasized that this decision was also inspired by competing streaming services, similar to the weekly release model.

"It is pretty clear that it is working for Hulu, Disney is doing it, HBO did it. We don't have any doubt that it works,” Hastings continued, adding that Netflix will do something similar to Hulu's plan layer. However, Netflix's ad-backed tier would not include data tracking and ad-matching like other streaming services. Netflix also reported in April that it had lost 200 thousand subscribers despite the company's predictions that it would gain 2.5 million, citing reasons for the decrease such as password sharing and rival streaming services, among others. The company expected to lose two million more subscribers over the course of the second quarter.

It was recently reported that Netflix is no longer the biggest streaming company in the world, with Disney surpassing it with 221 million direct-to-consumer subscribers across Disney+, Hulu and ESPN+. However, when it comes to individual streaming services, Netflix still comes out on top with 220.7 million subscribers, with by Amazon's Prime Video coming in second with 175 million and Disney+ at 152.1 million.

Source: ScreenRant, via Puck