Netflix and Microsoft team up for cheaper plan with adverts

A cheaper Netflix subscription plan with ads will be available through a partnership with Microsoft.

Streaming giant says the service will be an addition to its existing plans, which do not include advertisements.

As of yet, the company has not revealed how much the new service will cost.

Following its first subscriber loss in more than a decade and hundreds of job cuts, Netflix announced the move.

Between January and March, the firm lost 200,000 subscribers, compared to 2.5 million analysts had expected.

Additionally, Netflix expects to lose two million subscribers between April and June.

A "lower-priced ad-supported subscription plan" has been announced with Microsoft as its global advertising technology and sales partner.

In a statement, Netflix's chief operating officer Greg Peters said, "We have a lot to work through."

Our long-term goal is clear: More choice for consumers and better-than-linear TV brand experiences for advertisers."

Ads were never a priority for Netflix.Its entire business model revolved around monthly subscriptions.