Netflix stock jumped by 9% on Thursday following its upfront pitch to advertisers.

 

Netflix stock jumped by 9% on Thursday following its upfront pitch to advertisers.   The streamer announced it now has around five million monthly active users to its lower-cost, ad-supported tier. This marked Netflix's first-ever upfront participation. NBCUniversal and WB Discovery also hosted upfronts this week. Netflix's ad tier costs $6.99 per month in the US, and was launched in partnership with Microsoft. Netflix will also begin cracking down on password-sharing soon, expected to produce an additional revenue boost.