Netflix says its ad-supported membership has surpassed 23 million subscribers worldwide.
Speaking at Variety‘s Entertainment Summit at CES 2024 this week, Amy Reinhard, Netflix’s president of advertising, discussed the growth of the lower-cost, ad-enabled subscription. Per Netflix, it had reached 15 million ads tier subscribers in November, so it’s seen quite a jump in just two months.
At the summit, Reinhard said Netflix is also “really excited” about the engagement with its ad-supported plan. She said that of those subscribed to it, 85 percent are streaming on Netflix for more than two hours per day.
In an October 2023 letter to shareholders, Netflix said ads plan memberships grew almost 70 percent quarter-over-quarter and roughly one-third of new signups were ad-based.
Basic with Ads first launched in 12 countries, including Canada, the U.S. and Mexico, in November 2022 for $5.99/month. With this lower-cost option, subscribers are shown ads during both movies and TV shows at an average rate of four to five minutes per hour, with each one lasting for 15 or 30 seconds.
Source: Variety
