Netflix phases out its cheapest ad-free plan and secures a $5B WWE 'Raw' deal

Netflix has announced the retirement of its ad-free Basic subscription plan, which costs $11.99 per month, in some countries where ad-supported plans are available. The change will initially affect Canada and the UK, starting in the second quarter of this year. This means that users will have to opt for either one of the two more expensive ad-free packages, starting from $15.49 per month, or the cheaper ad-supported plan at $6.99 per month.

Currently, Netflix’s ad-supported plans are available in 12 countries, including the U.S., U.K., Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, and Spain. The company's move aims to bolster its ad business, as opposed to relying heavily on continuous price increases.

In another development, Netflix has secured a 10-year deal to stream WWE’s Monday Night Raw. The $5 billion agreement marks a shift for the live weekly show, which has aired on linear television for over three decades. This deal shows Netflix's intent to expand further into live sports streaming.