Netflix saw a more than 150 percent increase in ad sales commitment after this years upfront, compared to last year, the streaming giant said Tuesday.
The commitments included buys from advertisers in all key categories, Netflix said, and include partnerships for Squid Game, Wednesday, Outer Banks, Happy Gilmore 2, Ginny Georgia, and Love is Blind as well as deals around the new live events, including WWE Raw, and the live telecasts of the Christmas Day NFL games, which kick off for the first time this year.
This was the first time that Netflix had a physical event in New York during upfronts week. The event included a Netflix immersive experience, which had nods to Bridgerton and Squid Games, as well as more formal presentations to ad buyers. The increase in advertising comes as Netflix continues to build out its lower-priced advertising tier. In May, the company said the advertising tier had 40 million global monthly active users, compared to 23 million in January.The advertising tier launched in November 2022.
During the companys most recent earnings report, Netflix said the ad tier accounts for more than 45 percent of all signups in its ads markets.
As part of the build out of the ad tier, Netflix is planning to launch its own in-house ad tech platform, which will be tested in Canada in November and launched globally in 2025. Additional programmatic offerings for advertisers now include The Trade Desk, Googles Display Video 360 and Xandr.
Netflix also secured multiple international on-screen title sponsors for the third season of Bridgerton, including LOreal, Pure Leaf, Amazon Audible, Puig, Booking.com, Stella Artois and Hilton. And made ad partnerships with LVMH, COTY Gucci, Kaiku Caffee Latte, Aeromexico, LOreal, Google and Rakuten for the most recent season of Emily in Paris.