Netflix's Ad-Supported Tier Rapidly Gains Steam with 15 Million Monthly Active Users

Netflix's ad-supported subscription tier now has 15 million monthly active users, up from 5 million last May.

The tier launched globally after debuting in 12 countries and has grown 70% since last quarter.

Netflix has teamed up with Microsoft to build an ad platform and reversed its longstanding opposition to ads.

The ad tier has helped Netflix return to subscriber growth and increase profits after losing many subscribers.

Netflix is adding new ad products like "binge ads," title sponsorships, and presenting live sponsors for events.