(Reuters) – Netflix (NASDAQ:) said on Tuesday that its ad-supported tier now has 70 million monthly active users globally, nearly doubling the number reported earlier this year.
The streaming giant is experiencing a faster rate of adoption for its ad-based plan, priced at $6.99 per month in the U.S., as customers seek more affordable options.
Netflix has said that over 50% of new sign-ups for its service are for the ad-supported plan in regions where it is available.
In May, the company reported that this tier had reached 40 million global monthly active users.
Netflix has said earlier it does not anticipate advertising to become a primary growth driver until 2026.
