Netflix's ad-supported plan has around 5 million users.
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Loading... - Bacolod Benilda
- 06 Jun 2023
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Netflix captivated marketers on Wednesday by announcing that its fledgling ad-supported plan has achieved a remarkable milestone, attracting nearly five million users worldwide. The streaming giant took the opportunity to showcase its exceptional lineup of shows, highlight its diverse viewer demographics, and unveil other enticing details during a virtual "Upfront" presentation aimed at advertisers.
As the event commenced, Greg Peters, Netflix's co-chief, proudly declared, "Since the beginning of this year, our ads member base has more than doubled." He further revealed that, on average, over 25% of new sign-ups now opt for the ad-supported plan in countries where it is available.
Amidst a slowdown in growth last year, Netflix, headquartered in Silicon Valley, decided to concentrate on introducing a more affordable subscription tier featuring advertising. The results have been impressive, as membership in the ad-supported tier has more than doubled since the beginning of this year, amassing nearly five million users, according to Netflix's data. In April, the company celebrated a record-breaking total of 232.5 million subscribers.
During the Upfront presentation, Peters addressed the advertisers, emphasizing their shared objective, stating, "You aspire to connect consumers with your extraordinary brands, while we aim to connect them with outstanding entertainment they will adore."
Netflix revealed that over 70% of subscribers to the ad-supported plan fall within the age range of 18 to 49, an enticing demographic for advertisers seeking to reach a broad audience. Ted Sarandos, Netflix's co-chief, proudly proclaimed, "Netflix shows and movies are attracting global audiences that surpass our closest competitors by significant margins."
Among the highlights of the Upfront event, Netflix showcased its upcoming shows, including the highly anticipated production "Griselda," starring Sofia Vergara, as well as new seasons of fan favorites such as "Stranger Things."
