Netflix’s new ad tier plan appears to be working

• Netflix’s new ad-supported tier accounted for 13% of subscribers in its first month, new Evercore research found.
• Close to half of the tier’s signups are new or recently churned subscribers.
• Evercore believes the ad tier is driving incremental subscriber growth for Netflix.

Netflix’s new ad-supported tier accounted for 13% of the streamer’s subscribers in its first month, with about half being new or returning users to the streamer, according to new research from Evercore ISI.