Netflix ad-supported tier has 40 million monthly users, nearly double previous count

Netflix has revealed that its cheaper, ad-supported tier now has 40 million global monthly active users, nearly double the figure shared in January. The streaming giant will launch its own advertising platform and no longer partner with Microsoft for that technology. The company introduced the ad-supported plan in November 2022 to drive revenue and has seen 40% of signups in countries with the ad tier opting for the cheaper plan. Netflix currently has 270 million total subscribers. This surge in ad-tier users comes as linear TV audiences shrink and traditional media companies aim to establish themselves in the streaming space. Comcast, a key competitor, reported that its streaming platform Peacock had 34 million subscribers in its first-quarter earnings report.