Netflix (NASDAQ:NFLX) revealed Wednesday that its ad-tier subscription plan has now reached millions of active users worldwide.
The streaming giant, which partnered with Microsoft (NASDAQ:MSFT) Advertising to help it implement the plan, said its advertising tier has now hit 15 million global monthly active users.
The implementation of the subscription plan has seen the company offer additional ad products and features, including showing ads at different times of the video and expanding the category availability.
In addition, the platform launched the Top 10 so advertisers can target the most popular series and movies on Netflix. In a recent event, Netflix said the Top 10 feature was something that advertisers were keen on.
Looking to Q1 2024, Netflix said advertisers will be able to utilize the new binge ad (wt) format that "taps into the viewing behavior of watching multiple episodes in a row." It means that after watching three consecutive episodes, members will be presented with a fourth episode ad-free. Meanwhile, in early 2024, NFLX will launch the ability to "showcase QR codes in advertising creative running on Netflix in the US."
Netflix shares have jumped over 1% so far on Wednesday.