Netflix's cheaper, ad-supported tier has been a resounding success, achieving 70 million global monthly active users merely two years after its launch, indicating robust interest.
More than 50% of new sign-ups for Netflix are now for ad-supported plans in markets where this option is available, reflecting a significant shift in user preferences.
The company reported 5.1 million new subscribers added in the latest quarter, surpassing Wall Street's expectations and bringing total memberships to 282.7 million.
Looking forward, Netflix plans to shift its focus away from subscriber counts to revenue and other financial metrics as indicators of its performance moving forward.
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