The company said in its Q2 earnings call that Q3 subscriber additions will be lower than those in Q2, so this move is likely an attempt to pad those numbers. It should be noted that these free episodes are available to everyone only on web browsers. On mobile, Android users will have access to the content, but iOS users will not, per Netflix has also cut back significantly on marketing spend, so this serves as a lower-cost marketing ploy as it avoids larger ad campaigns.
The company outlined a leaner marketing strategy in its Q2 2020 earnings call, with co-CEO Ted Sarandos the company would be working on a "more efficient, more impactful and more global way to talk to [its] members," which is not "always through the most traditional channels.", and moving into H2, there was no indication that that would be reversed. Making some of Netflix's biggest titles available for free should play well into the company's plans.
Once Harry and Meghan get on there they will have to offer the entire catalogue for free to stop people leaving.
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