Netflix is under fire from its own shareholders after it was revealed that the streaming giant has become the latest company to change its name to ‘Netflix+’.
The online streaming company has been criticised by its own critics, who claim that the new branding is an attempt to appeal to millennials while maintaining the company’s core values of affordability, transparency and quality.
Netflix has faced criticism over the past year over its increasing focus on digital distribution, with the company announcing plans to buy the streaming video service OTT service Vevo.
The move was widely criticised by users, who complained that the content it is distributing on the service would be limited in its offerings to users in countries where it was unavailable.
In response, Netflix has recently begun to introduce new programming on the platform to boost its audience.
This week, the company announced that its streaming service would soon be launching an online app for iOS and Android.
The company said it would allow users to sign up for the service by signing up with a email address, which would allow them to receive notifications about new content and access to special features.
The app will be free and available for free users in the US, Canada, United Kingdom, Ireland, Australia and New Zealand.
However, it will be available to pay customers for a monthly fee of $9.99 (about £6.70) once it launches in the UK, Ireland and New South Wales, the US and South Korea.
Netflix is one of the most popular streaming services in the world, but its latest branding decision comes after criticism over its recent changes to its online strategy.
In November, the online streaming giant announced that it would introduce a ‘pay as you go’ model for its video service.
This meant that Netflix would charge customers an extra fee when they used the service on a pay-as-you-go basis.
This fee would then be deducted from subscribers’ Netflix subscriptions, which were originally set at $9 per month.
Netflix had previously been planning to introduce a subscription based on the monthly fee, but the company has now changed course and has announced a new pricing model that is cheaper than what it had previously planned.
The change is the latest move by the company in the face of criticism over an ongoing change in its online marketing strategy.
The latest change in strategy was first revealed in a blog post from Netflix CEO Reed Hastings on the company website in January 2017.
“As we began working on this new approach, we realized we needed to change the way we communicate with customers,” Hastings wrote.
“When we launched the ‘Netflix Plus’ plan, we didn’t anticipate the outcry that it was causing.
Now, with our new pricing plan, it’s clear that we have listened to our customers and their concerns about the future of the service.”
Netflix has also been criticised for its new online strategy, with some users accusing the company of “trying to suck up to the entertainment industry”.
The company’s chief marketing officer, Jon Buchheit, responded to this criticism by saying that “Netflix has always been about offering the best quality content in the shortest amount of time”.
“Netflix is not trying to pull any punches,” Buchheit said.
“Our approach is to give our customers what they want, when they want it and when it’s right for them.
We’re also transparent about the fact that we do offer a variety of other options, including paid, ad-supported, and paid-for tiers.”
Buchheit added that the company was looking to “improve our delivery times” in the future.
Netflix will launch its new pricing structure in the coming weeks, and subscribers will be able to sign-up for the new Netflix Plus service in the United States, Canada and United Kingdom.
Netflix also announced plans to launch an iOS and Google Play app for users in South Korea in early February.
Users in these countries will be given the option to signup for Netflix through the existing app, or they can use the new app for free.