Netflix Inc's recently launched ad-supported tier reaches nearly 5 million active users per month, executives said on Wednesday in a pitch that emphasized the breadth of its programming to potential advertisers.
Reuters reports the streaming video pioneer launched a $7-per-month option with commercials last November in 12 markets, including the U.S., as an alternative to ad-free plans that start at $10 a month. It was designed to attract more customers and add a new revenue stream as competition for online viewers intensified.
On Wednesday, Netflix made its first presentation to advertisers at the annual ritual known as the upfronts, where networks aim to lock in ad commitments for upcoming shows. Walt Disney Co (DIS.N), Comcast Corp (CMCSA.O) and other companies also are vying for digital ad dollars.
Netflix executives stressed the company's wide range of programming, from sci-fi hit "Stranger Things" to Korean drama "Squid Game" and upcoming action movie sequel "Extraction 2."
"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, chief content officer for Netflix.
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