Netflix‘s ad-supported tier continues to gain traction, now boasting 40 million monthly users worldwide, as revealed during the streaming giant’s 2024 upfront presentation. This figure marks a significant increase from the 23 million reported earlier this year and reflects the platform’s strategic move towards diversification. Since its launch in 2022, the ad-supported option has seen substantial growth, reaching 5 million users within six months. Notably, in regions where ads are available, over 40 percent of new users are opting for the ad-supported tier.
In tandem with this milestone, Netflix announced plans to develop an in-house advertising technology platform. According to Amy Reinhard, Netflix’s president of advertising, this move aims to uphold the same high standards of excellence that define the platform’s streaming technology. While Netflix initially collaborated with Microsoft as its global advertising technology and sales partner, it has expanded its partnerships to include Google, The Trade Desk, and Magnite.
This announcement coincides with Netflix’s broader foray into live events, exemplified by securing streaming rights for NFL games on Christmas Day. This initiative follows previous ventures into live comedy specials and will soon include high-profile events such as a boxing match between Jake Paul and Mike Tyson, along with weekly WWE broadcasts. These developments underscore the evolving landscape of streaming services, which increasingly resemble traditional cable TV models through initiatives like price adjustments and bundled offerings.
