Netflix Ad Tier Hits 15 Million Users, Offers New Features
(Bloomberg) -- Netflix Inc.'s advertising-supported plan has reached 15 million global customers one year after its launch, the company said in a blog post Wednesday.
The streaming service also announced new features for the plan, which costs $7 a month in the US, less than half the price of the standard plan. Subscribers can download films and TV shows and watch two streams simultaneously — at higher quality. Netflix also said it will let people who binge watch three episodes of a program in a row view a fourth without any advertisements. QR codes will be introduced to let viewers interact with the commercials.
The ad tier was part of an effort to attract new subscribers to the service after signs-ups began falling last year. The service got off to a slow start with advertisers concerned they weren't getting enough viewers for their commercials. In the most recent quarter, Netflix exceeded expectations with nearly 9 million new customers.
The shares rose 1.9% to $419.31 as of 10:31 a.m. in New York.
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