Netflix ad-supported tier has 70 million monthly users

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

ad-supported tier has 70 million monthly users

People wait in a line to enter “The Lab,” a “Stranger Things”

This is the hidden content, please

• Sign In
• or
• Sign Up

series experience in Madrid on June 2, 2022.

Beata Zawrzel/ | Nurphoto | Getty Images

This is the hidden content, please

• Sign In
• or
• Sign Up

’s cheaper, ad-supported tier has reached 70 million global monthly active users two years after it was launched.

The company said Tuesday that more than 50% of its new sign-ups are for ad-supported plans in countries that offer the option.

This is the hidden content, please

• Sign In
• or
• Sign Up

said it continues “to see positive momentum and growth across all areas of the business,” adding it has seen “steady progress across all countries’ member bases.”

This is the hidden content, please

• Sign In
• or
• Sign Up

launched the option in November 2022 as one of its responses to a slowdown in subscriber growth.

Recently, subscriber growth hasn’t been an issue. Last month

This is the hidden content, please

• Sign In
• or
• Sign Up

reported it added 5.1 million subscribers during the third quarter, beating Wall Street estimates. In total,

This is the hidden content, please

• Sign In
• or
• Sign Up

counts 282.7 million memberships across all of its pricing tiers.

Beginning next year,

This is the hidden content, please

• Sign In
• or
• Sign Up

said it will no longer update investors on its subscriber numbers as it shifts focus toward revenue and other financial metrics as performance indicators.

When

This is the hidden content, please

• Sign In
• or
• Sign Up

launched its ad platform two years ago, the company said Nielsen would rate its content.

This is the hidden content, please

• Sign In
• or
• Sign Up

in May announced it would air two National Football League games on Christmas Day this year as part of a three-year deal. On Tuesday it said it sold out of its ad inventory for the two live games.

This is the hidden content, please

• Sign In
• or
• Sign Up

also said it’s brought on FanDuel and Verizon as advertisers for the games. FanDuel will become the exclusive pregame sportsbook ******** partner,

This is the hidden content, please

• Sign In
• or
• Sign Up

said, and will have a sponsored in-show feature.

Media companies have been focusing on ad-supported strategies for their streaming options that woo customers with cheaper plans and also offer advertising revenue that can help move the streaming businesses toward profitability. While the ad market has been slow for traditional TV, it has grown for streaming and digital businesses.

This is the hidden content, please

• Sign In
• or
• Sign Up

offered its last update on its ad-supported tier in May, when it said it reached 40 million global monthly active users, nearly doubling the figure it had shared in January. That announcement came during Upfronts, when media companies make their pitches to advertisers.

This is the hidden content, please

• Sign In
• or
• Sign Up

also announced in May it would launch its own advertising platform, ending a partnership with

This is the hidden content, please

• Sign In
• or
• Sign Up

for that technology. It’s rolled out the platform in Canada and plans to launch it in the U.S. by the end of the second quarter next year. It plans to set the platform live everywhere by the end of 2025.

Don’t miss these insights from CNBC PRO

This is the hidden content, please

• Sign In
• or
• Sign Up

#

This is the hidden content, please

• Sign In
• or
• Sign Up

#adsupported #tier #million #monthly #users

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up