Streaming giant Netflix has lowered advertising prices for the $6.99 per month ad-supported membership tier the company introduced last year.
Advertising costs are now reportedly running between $35 to $45 per 1,000 viewers in Netflix’s recent deals, compared to its previous rate of $45 to $55 per 1,000 viewers, which could attract new advertisers to the platform.
Netflix’s ad-supported tier subscribers have grown in recent months, boosting to 3.3% of the company’s U.S. customer base at the end of June from 1.7% in March.
The company is also set to restructure its advertising partnership with Microsoft to reduce the deal’s revenue guarantee.
