Netflix's Ad-Supported Tier Hits 40M Monthly Users, Nearly Doubling Since January

👉 Key Highlights:
📍 Netflix's ad-supported tier now has 40 million global monthly active users.
📍 This is nearly double the 23 million users reported in January.
📍 40% of new signups in countries with the ad tier are for the cheaper plan.
📍 Netflix now has 270 million total subscribers.
📍 Netflix to launch its own advertising platform, ending partnership with Microsoft.
📍 Microsoft remains a programmatic advertising partner.
📍 Ad-supported tier introduced in November 2022 to boost revenue amid slowing growth.
📍 Netflix ended quarterly subscriber number updates, focusing on profit and free cash flow.
📍 Competitor Peacock has 34 million subscribers, per Comcast's Q1 report.

👉 Market Insights:
📍 Netflix’s shift to an ad-supported model and the development of its advertising platform highlights its adaptability in a competitive market.
📍 Traditional media companies are struggling to make streaming platforms profitable, whereas Netflix continues to expand its user base and revenue streams.