Netflix Shares Fell 2% on News That Ad-Supported Tier Was Least Popular Offering in November

Tiger Newspress2022-12-20

Netflix shares fell more than 2% in morning trading on news that the company's ad-supported tier is struggling to gain popularity among users.

According to data from analytics firm Antenna, first reported by The Wall Street Journal, the plan made up just 9% of new subscriber sign-ups during its first month on the market in November, and was the least popular plan among users.

Broken down, 57% of subscribers stemmed from people returning to the service or joining for the first time, while 43% priced down from more expensive options, the Journal reported.

The streaming giant rolled out the new tier in an attempt to draw new customers to its platform and build out new revenue streams.

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Comments

FattAgain69
2022-12-20
FattAgain69
Least popular plan but still raking money from users. Much better than shared accounts that do not bring in extra money.
- DesmondAn:
  nice

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