Netflix with ads reportedly could come by the end of the year

New York (CNN Business) Netflix recently told employees that the the company's new lower-priced ad tier may come by the end of the year, according to a report from the New York Times Tuesday.

The company is struggling as streaming competition heats up: Shares plunged last month after Netflix reported its first quarterly subscriber loss in more than a decade

Netflix CEO Reed Hastings said in April the company was open to adding commercials to the service, shocking the media and advertising industry. Hastings for years refused to put commercials on the platform.

"Those who have followed Netflix know that I've been against the complexity of advertising and a big fan of the simplicity of subscription. But as much as I'm a fan of that, I'm a bigger fan of consumer choice," Hastings said on the post-earnings call last month. "And allowing consumers who like to have a lower price, and are advertising tolerant, get what they want makes a lot of sense."

Netflix NFLX Hastings added in April thatwas trying to figure how to bring ads to the platform "over the next year or two." But that process appears to be accelerating. Netflix, which declined to comment for this story, is trying to figure out ways to bring in more money, stop the bleeding on Wall Street and reverse the narrative about its stock.