According to Yellin, "It's becoming the global language of the internet".
Netflix reportedly tested the new rating system with thousands of users throughout 2016.
The thumbs also helped Netflix make more accurate recommendations, Yellin said. Netflix five star system has been in place for years and it can be handy, especially if you just want to look at the top rated picks.
The new rating system is set to roll out globally starting in April.
This news comes on the heels of Amy Schumer's battle with alleged trolls, who she believes organized to negatively rate her new standup special on Netflix.
Netflix also announced that some of this data will be used for a new percent-match feature - created to indicate how good of a match a show or movie is for you.
"The star ratings represented compatibility - not quality", Netflix spokesperson Smita Saran said in an email. But the stars are about to be replaced by a simple thumbs up or thumbs down system. Titles will have a percentage mark next to them to show how much you'll potentially like them.
Netflix vice president of content Todd Yellin told The Verge finding ways to more effectively match users with content played a big role in the change.
Netflix also plans to start displaying a match rating that will predict how likely a viewer is to enjoy a particular title. The stated goal is to reach a 50-50 split between original and licensed content. How could you? Instead, you see a bad rating for a piece of content that Netflix spent millions of dollars on.
Netflix is further refining the content selection process using a percentage matching feature. The system thinks you hated the movie.
Netflix is changing its ratings system from the existing stars to thumbs ups and downs.
High matches will be around 88%, less strong fits could be around 60% and matches under 50% won't be displayed.