Netflix's recently launched ad-supported tier has reached five million active monthly users, said Netflix executives on Wednesday. The streaming platform had launched the $7 per month tier with commercials in 12 countries in November, including the US, as a cheaper option to its ad-free plans that start at $10, to attract more subscribers. Netflix announced the numbers during its first presentation to advertisers at the annual event, Upfronts, during which Netflix stressed on its hits; Stranger Things, Squid Game, and the upcoming sequel movie, Extraction 2. The ad presentation was planned to be live in New York, but was changed to a virtual event to avoid protests from the Writers Guild of America's strikes. "No other entertainment company aspires to create great movies and shows across so many genres in so many countries, and for such a broad, diverse audience," said Bela Bajaria, Netflix's chief content officer. "We wanted to work with advertisers to create new types of advertising that could only be done on a digital service. For instance, a 30-minute commercial could play out over several days, with a story unfolding each time a viewer watches a show on Netflix," said co-Chief Executive, Ted Sarandos. Netflix also reported 232.5 million global subscribers by the end of March.
