A year after bestowing its ad-supported tier to its viewers, Netflix is planning to launch the “Binge ad” format in Q1 2024. Through this service, viewers will get access to an ad-free episode in return for watching a sponsored message. Though, they have to watch three consecutive episodes to get a fourth (ad-free) episode. On top of this scenario, the streaming giant has also planned to give its subscribers the alternative of utilizing QR codes in ads in early 2024.
Netflix has also disclosed that its ad-supported tier now consists of 15 million active users (monthly) worldwide. However, this growth is quite low (only 30%) as compared to new Disney+ subscribers (50%) who have opened up their accounts on the streaming platform (with ads).
Netflix did not reveal its current number of subscribers by country. However, some of the online reports have leaked that nearly 1.5 million subscribers in the US signed up for the ad-tier service during the summer. This number looks very low when compared to the total number of Netflix subscribers, showing that the platform still has to travel a long distance to become a force to be reckoned with in advertising.
Now, advertisers have the option of purchasing 10, 20, and 60-second spots on Netflix. The streaming service previously offered only 15 and 30-second spots.
In addition, Netflix is searching for sponsors for the forthcoming season of The Crown and the reality series, Squid Game: The Challenge. Moreover, the streaming platform will offer general title sponsorships to marketers in the United States, with worldwide availability arriving in 2024. Stay tuned for more updates.
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