This week, Instagram tests NFTs for creators and collectors, Netflix plans for a cheaper, ad-supported plan this year, Discovery+ joins Roku Channel, and Sweetgreen combines subscription offers with a loyalty program.
Instagram experimenting with NFTs
As of this week, Meta-owned Instagram is testing NFTs - non-fungible tokens - with some of its U.S. creators and collectors. Mark Zuckerberg, Meta CEO, “believes that NFTs will play a key utility role in the metaverse, such as digital clothing and accessories for everyday users, also stating that the ability to transfer these items between platforms will be essential.” Read more on MediaPost.
Ad-supported plan may be coming to Netflix this year
Originally reported by The New York Times, Netflix has announced its plans to bring an ad-supported option by the end of the year to offer lower pricing and more consumer choice. This option is becoming more and more popular among streaming companies, with Disney+ sharing just a couple of months ago that it plans to do the same. Learn more on TechCrunch.
Roku adds Discovery+ to its offerings
While Discovery+ is already offered as a standalone app, Roku has now integrated the streaming service into Roku Channel, which includes a $5 ad-supported option and a $7 ad-free option. Roku Channel already includes more than 50 subscription services, such as AMC+ and Showtime. Read more on Deadline.
Sweetgreen is considering a salad subscription
In January, Sweetgreen pilot-tested Sweetpass, a subscription product that gave consumers “the chance to earn a $3 credit back for each purchase (limited to one a day) for 30 days for a one-time $10 fee.” It exceeded expectations and now the company is aiming to combine subscription offerings with a loyalty program. Learn more on PYMNTS.