Shares jumped just over 9 percent after the streaming service reported nearly 5 million monthly active users for the new advertising-supported option during its inaugural TV upfront event.
While not specifying how many actual subscribers it has for the new ad tier, this week’s announcement on monthly active users marked the first time Netflix revealed traffic figures for its advertising-supported tier that launched only six months ago.
No longer shunning advertising as subscriptions remain a key focus, Netflix participated in the TV upfronts week in New York City as it pitched ad buyers. Company execs revealed the overall ad member base had “more than doubled” since early this year. The streaming giant’s global subscriber total currently stands at 232.5 million.
Other metrics revealed at the upfront presentation include Netflix, as it competes with Hulu and Pluto TV in the ad space, reporting that over a quarter of new subscribers for the ad-supported option were signing up in markets where it’s available, indicating a strong take-up. And the median age for its ad-supported platform, which unlike rival streaming platforms is without marquee live sport programming, is 34.
Netflix also told ad buyers that viewers of the new tier were engaging with content at similar levels to that of standard tier users.
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