A major streaming platform announced a completely free ad-supported tier launching in June, dramatically escalating the streaming wars and putting pressure on competitors to reconsider their pricing strategies.
The free tier will include access to roughly 60 percent of the platform's library, with new original content available 90 days after its premium premiere. Users will see approximately 6 minutes of ads per hour of content.
Wall Street reacted positively, with the company's stock rising 8 percent on the news. Analysts believe the move could add 30 million subscribers within the first year and significantly boost advertising revenue.
