Nov 12 (Reuters) - Netflix ( NFLX ) 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, priced at $6.99 per month in the

U.S., as customers seek more affordable options.

Netflix ( NFLX ) has said that over 50% of new sign-ups for its

service are for the ad-supported plan in regions where it is

available.

In May, the

company reported

that this tier had reached 40 million global monthly active

users.

Netflix ( NFLX ) has said earlier it does not anticipate advertising

to become a primary growth driver until 2026.