Microsoft named by Netflix as partner for ad-supported subscription plan

Netflix said in April that it would introduce a new, lower-priced version of its service in a bid to attract more subscribers.

Shares of Netflix rose 2% to $178.06 (€177.67) on the news.

Netflix Inc said on Wednesday it has selected Microsoft Corp as technology and sales partner for its planned ad-supported subscription offering, as the streaming giant looks to plug slowing subscriber growth by rolling out a cheaper plan.

Shares of Netflix rose 2% to $178.06 (€177.67) on the news.