Netflix may introduce its lower-priced ad-supported subscription plan by the end of the year

The New York times reported that this subscription coming earlier than originally planned

The streaming giant is also planning to start cracking down on password sharing among its subscriber base around the same time, the report said, citing an internal note to employees.

Netflix last month posted its first loss of subscribers in more than a decade and signaled deeper losses ahead

The lagging subscriber growth prompted Netflix to contemplate offering a lower-priced version of the service with advertising, citing the success of similar offerings from rivals HBO Max and Disney+.

Netflix has also said it would crackdown on users sharing passwords as competition and password sharing were making it harder to grow.

Chief Executive Reed Hastings said in April's earnings call that the company would "figure out (the plan) over the next year or two."