Netflix might have been slow to join the ranks of ad-supported streaming services, but it has quickly become a dominant player in that market. The company on Tuesday announced its ad-supported tier has reached 70 million monthly active users in just two years.

Netflix’s ad-supported plan has notched a new level of monthly active users -- 70 million, according to the California-based streaming giant.

The streaming giant said Tuesday that its ad-supported tier now reaches 70 million users around the globe, compared with the 40 million it revealed in May and the 22 million it cited in January - a growth trajectory that big marketers want to see before they take Netflix's advertising options more seriously.

The company said more than half of new sign-ups in countries where Netflix offers ads are for the cheaper ad-subscription tier.

Netflix said on Tuesday that its ad-supported tier now has 70 million monthly active users globally, nearly doubling the number reported earlier this year. The streaming giant is experiencing a faster rate of adoption for its ad-based plan,

Netflix’s cheaper, ad-supported tier has reached 70 million global monthly active users two years after it was launched.