In terms of subscribers, the company reported having a total of 277.65 million paying subscribers globally. This number represents a year-over-year growth of 16.5%, reflecting a significant increase compared to previous quarters.
In the letter to investors, Netflix has identified two key strategic priorities for its advertising business: offering lower prices to consumers and creating a new source of revenue and profit for the company. The company notes that since launching this plan with Ads, just over 18 months ago, it has experienced significant growth and now represents more than 45% of all sign-ups in the markets where it is available.
In addition, Netflix has improved its offering for advertisers. For example, in the UK, new features such as “pause” and “continue watching” ads have been introduced from September. Since the launch of the beta version in May, more than 60 pause ad campaigns have been closed with major brands such as Expedia, Coca-Cola, Ford, L’Oréal and McDonald’s.
This plan, which costs $6.99 per month in the United States and offers two streams, HD and downloads, has seen a 34% increase in its ad-supported member base during the second quarter of 2024.
In addition to this analysis, the company included in the document to investors a report made by Nielsen, where the analysis firm points out that streaming represents 40% of the total television time in the US, with Netflix and YouTube as the clear leaders in direct-to-consumer entertainment. Collectively, these two services represent almost half of the streaming TV viewing time.
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