Per MW

When Netflix initially launched its ad-supported tier, it gained harsh criticism from a number of public users. Now, the company says it already has 5 million monthly active users, which happened after just six months of launching.

Greg Peters, the co-CEO of Netflix, gave a virtual upfront presentation to advertisers where he gave them an update on how the company's ad tier has done. During the presentation, Peters revealed that since early this year, the member base of that tier has "more than doubled."

The ad tier launched in November in the US, and while it has already gained 5 million monthly active users, this is still small compared to its total 232.5 million global subscribers.

The report by MW clarified that Netflix didn't reveal the exact number of subscribers to its ad-supported tier. It was also noted that paid subscribers and monthly active users were different metrics for counting users.

Peters: “The signals are promising: engagement on our ads plan is similar to our comparable non-ads plans... That’s critical because it all starts and ends with consumers... We have a long way to go to build scale in advertising,”

Toward the end of April, Netflix reportedly lost over a million users in Spain after it tried cracking down on password sharing. This came as the platform was trying to change its previous stance on whether passwords could be shared or not.

This came as the company introduced technical measures it would use for it to know whether the password is being shared for people in different households. Out of the million users lost, it was reported that two-thirds of them had been using the password of someone else.

In October, a survey of 1,000 Americans showed that 25% of them planned to quit the app this year, with a little over 40% of them saying that the reason they wanted to do so was because of the increased cost of the subscription.

See flow at unusualwhales.com/flow.

Other News:

Resources:

Market Watch