In a recent announcement at the Variety Entertainment Summit during CES 2024 in Las Vegas, Netflix’s President of Advertising, Amy Reinhard, revealed that the streaming giant’s ad-supported plan has achieved remarkable growth, boasting over 23 million global monthly active users. Reinhard emphasized the exciting aspect of this surge in engagement, noting that 85% of users on the ad-supported plans are spending more than two hours per day streaming content on the platform.
This latest milestone follows Netflix’s disclosure just over two months ago, where the company reported over 15 million monthly active users for its ad-supported tier. In an October shareholder letter, Netflix acknowledged that ad-tier subscriptions represented around 30% of all new sign-ups in the 12 countries where the platform had been launched.
The ad-supported plan, Netflix Basic With Ads, was launched in November 2022 in the U.S. and 11 other countries. Priced at $6.99 per month in the U.S., the plan offers an affordable alternative, costing less than half of the Standard plan, which is priced at $15.49 per month.
Addressing the audience at the Variety Entertainment Summit, Reinhard underscored the company’s commitment to a long-term perspective, stating that while scaling the business remains a top priority, Netflix aims to ensure meaningful growth for its members. Acknowledging the ongoing work on their end, Reinhard emphasized Netflix’s dedication to learning, iterating, and collaborating with advertising partners to evolve the business while maintaining a focus on content and customer engagement.
“We’re very fortunate to be able to take a long-term perspective on this,” Reinhard said. “Scaling our business is absolutely our biggest priority right now, but we want to make sure we’re doing that in a meaningful way for the members.”