40 million users subscribe to Netflix ad tier

Netflix’s ad-supported tier has hit a major milestone, with 40 million global monthly active users now on the platform. This marks a significant increase from the 23 million reported earlier this year. The streaming giant also made a bold move by announcing the launch of its own advertising platform, cutting ties with Microsoft in the process. Netflix plans to test its ad tech platform in Canada later this year before rolling it out in the U.S. by the end of the second quarter of next year.

The company’s Upfront presentation showcased its commitment to attracting advertisers, a strategy that has proven successful for other media giants. In a surprising move, Netflix secured a deal to stream NFL games on Christmas Day, marking its first venture into live sports. Terms of the deal were not disclosed, but sources suggest Netflix will pay around $75 million per game.

Related:  Have You Heard Of Elon Musk's "Secret Partner"?

As Netflix continues to dominate the streaming market, other companies are scrambling to catch up. Disney+ and Warner Bros. Discovery are forming a streaming bundle to retain subscribers and boost profitability. Competition is fierce, with Peacock and Paramount+ trailing behind in subscriber numbers.

Legacy media companies are struggling in the wake of a weakened advertising market, further solidifying Netflix’s position as the leader in streaming. With a focus on multiple price points and profitability, Netflix is setting the standard for the industry. As traditional TV audiences decline, the shift towards streaming is inevitable.

At Extreme Investor Network, we pride ourselves on delivering cutting-edge analysis and insights into the latest trends in the business world. Stay ahead of the curve with our exclusive content and expert opinions on the rapidly evolving landscape of streaming and advertising. Subscribe now to join our network of savvy investors and stay informed on the latest developments in the industry.

Related:  PepsiCo reports earnings for the first quarter of 2024

Source link