Netflix announced that its ad-supported tier has reached 70 million monthly active users globally, nearly doubling the 40 million reported in May. This significant growth demonstrates the increasing adoption and success of the company's advertising-supported subscription option.
The company also reported that over 50% of new Netflix sign-ups in countries where the ad-supported plan is available are opting for this tier. This indicates strong consumer demand for a lower-cost streaming option and validates Netflix's strategy to diversify its revenue streams beyond traditional subscriptions.
The rapid expansion of the ad-supported tier is a crucial operational milestone, enhancing Netflix's ability to attract a broader audience and generate substantial advertising revenue. This growth positions the company favorably in the competitive streaming market and contributes to its overall profitability.
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