Since April, Netflix has garnered over 8 million paid subscribers on a global scale. As stated in the information on new subscribers incorporated into the company’s earnings in the 2nd quarter. With the leap in subscriptions, Netflix now has a grand total of 277.65 million customers with paid subscriptions all around the globe, which marks a 16.5% year over year increase.
Netflix’s ad tier memberships grew quarter over quarter by 34% because Netflix pushed its ad-supported membership. They also achieved this by eliminating their basic subscription that was ad-free. Early in July, the company started advising subscribers in Canada and the UK to consider upgrading their plans. The subscriptions in the United States used to cost $9.99 a month. The lowest tier without ads is now priced at $15.49. These memberships increased by 34% from the first to the second quarter of this year.
The company is set to experiment with an in-house platform for advertising tech called Upfront in Canada first, with expectations to launch it worldwide in 2025. Netflix anticipates that the ad-tier subscriptions will increase by next year and beyond.
