Marvin Samuel Tolentino Pineda
- Netflix (NASDAQ:NFLX) disclosed on Wednesday that the number of monthly active users that subscribe to its advertising-supported plan has hit 40M subscribers.
- The disclosure was made by Netflix advertising executive Amy Reinhard as part of the company’s upfront presentation to advertisers in New York.
- Shares gained 1% following the news, erasing earlier losses.
- Netflix’s Reinhard also said the company it will launch an in-house advertising platform by the end of 2025. The Trade Desk (TTD) Magnite (MGNI) and Google (GOOG) (GOOGL) will work with Netflix to offer up automated ad purchases for prospective buyers. Netflix previously partnered with Microsoft (MSFT) on the technology.
- The company made several other announcements at the event, including the news it has green lit the sequel to Adam Sandler’s Happy Gilmore movie, Deadline reported.
- Last month, Netflix disclosed that it added 9.33M paid subscribers during the first-quarter, bringing its global total to almost 270M.
- Netflix introduced its advertising supported subscription plan in November 2022 at a cost of $6.99 per month. Earlier this year, the company said it expects to phase out the cheapest ad-supported plan, starting in the second-quarter of this year.
- Separately on Wednesday, the streaming giant said it would air two National Football League games on Christmas Day, expanding Netflix’s push further into live broadcasting. The deal between the two parties will run for three seasons.
(This story has been updated to include Netflix’s new ad partners.)
