Netflix announced on Wednesday that its advertising-supported subscription tier now has 94 million subscribers worldwide. This is an increase from 70 million in November last year. The lower-priced plan is gaining strong support as consumers face global economic challenges.
The streaming giant has over 300 million total subscribers and reports steady spending across all subscription levels. In April, Netflix said it saw no major change in consumer spending despite ongoing economic worries.
Last month, the ad-supported plan accounted for 55 percent of new sign-ups in the countries where it is offered. Netflix also improved its language options earlier this year by adding more dubbing and subtitles to reach a wider global audience.
Many of Netflix’s most popular shows come from outside the United States. Series like the South Korean drama “Squid Game” and the Spanish hit “Money Heist” have attracted large international audiences. This foreign content strategy helps Netflix grow in diverse markets.
Netflix faces some challenges due to trade policies. In May, the former U.S. president proposed a 100 percent tariff on foreign-made films. This aimed to boost domestic film production but created uncertainty for companies like Netflix that produce content overseas.
Netflix also unveiled a redesigned TV app with a new AI-powered search feature on iOS. This update helps users find shows and movies more quickly.
Investors had concerns that economic uncertainty and changing trade policies might lead consumers to cut back on streaming services. Netflix’s recent growth in subscribers and steady revenue suggests these worries may be unfounded.
Offering various subscription options, including the popular ad-supported tier, helps Netflix keep customers engaged even during tough economic times.
