Netflix advertising chief says ad tier crosses 23 million monthly users - Variety
Reuters
Published Jan 10, 2024 06:58PM ET
(Reuters) - Netflix (NASDAQ:NFLX)'s ad-supported tier has reached more than 23 million global active users per month, the Variety magazine reported on Wednesday, quoting the streaming giant's advertising chief Amy Reinhard.
The ad tier plan was launched in November 2022 in 12 markets, including the United States, to attract more customers and add a new revenue stream as competition for online viewers intensified.
A year after its launch, Netflix said the ad tier plan had reached 15 million active users per month.
The streaming giant has been hiking prices on its ad-free options in an effort to nudge more subscribers to the other tier, where commercials help bring in more revenue.
"Of Netflix's customers on ad-supported plans, 85% of are streaming on the platform for more than two hours per day," the report quoted Reinhard as saying at the Variety Entertainment Summit at CES 2024 at Las Vegas' Aria Resort and Casino.
An Insider Intelligence report projected last month that Netflix is set to pull ahead of Disney+ in the race for U.S. advertising dollars next year, as price hikes and a password-sharing crackdown pull more viewers to its ad-supported plan.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.