Netflix hits 40 million users for ad-supported plan

Netflix said on Wednesday its ad-supported tier has reached 40 million global monthly active users, from 5 million a year earlier, a sign that its push to attract new users with the cheaper plan is paying off.

The jump comes at a time when streaming companies are facing stiff competition and introducing bundles with their rivals to retain subscribers.

Netflix, which launched the ad-supported plan in November 2022, said that 40% of all sign-ups come from those plans in the countries where they are available.