Netflix reports a milestone achievement after one year of offering its new affordable ad-supported package, which has become an attractive option for customers in several countries (excluding Thailand) and is proving to be a new source of revenue for the streaming platform. Previously, the platform solely relied on subscription fees.
On their recent report, Netflix states that they now have over 15 million ad-supported subscribers worldwide (out of a total of 247 million accounts) across 12 countries. Additionally, they have introduced new advertising tools for marketers, such as various ad formats ranging from 10, 15, 20, 30, and 60 seconds and the Binge Ad format. The Binge Ad format allows viewers to watch the fourth episode without any interruptions if they binge-watch three consecutive episodes of the same content. This format also highlights the support from the sponsoring brand.
Netflix is also planning to expand their advertising efforts. They have already started experimenting with brand-supported content in the latest season of Love is Blind (with Smartfood snacks as the sponsor) and have plans to extend this approach to Reality Squid Game: The Challenge and the final season of The Crown, as well as the live Netflix Cup golf tournament, which has multiple sponsors.
TLDR: Netflix celebrates the success of its ad-supported package after one year, attracting over 15 million subscribers worldwide. They offer various ad formats, including the Binge Ad format that rewards uninterrupted viewing. Netflix plans to expand brand-supported content to other shows and live tournaments.