Netflix announced that it has completed negotiations over its upfront advertising and reported a 150% increase in sales commitments compared to 2023, in line with the company's expectations.
Netflix Adds Over 8 Million Customers, Exceeds Expectations
The presence of ads on the world’s leading streaming service is of course a new phenomenon, putting an asterisk on statistical comparisons, but the news is the latest sign that a major strategic effort is moving forward. After more than a decade of maintaining that it would never run ads, Netflix reversed course in 2022, quickly building an advertising team and instituting a new $7 subscription tier. It was followed by Disney+ and Prime Video, as all streaming players except Apple TV+ focus on ads.
In a blog post, President of Advertising Amy Reinhard said the company closed deals upfront with all the major holding companies and independent agencies. Transactions spanned major categories including consumer goods, technology and entertainment, automotive, fast-food restaurants and retail.
Movies and series being discussed in the pre-show talks include Squid Game, Wednesday, Outer Banks, Happy Gilmore 2, Ginny & Georgia and Love is Blind. Live events like NFL Christmas Day games and WWE Raw, which will stream weekly starting in January once a multi-year rights deal kicks in, also attracted buyers.
