As a long-time Netflix subscriber, I must admit that the recent developments in their advertising strategy have left me both intrigued and somewhat amused. It’s fascinating to see a company once synonymous with “commercial-free” streaming diving headfirst into the world of advertisements.
Netflix, which was initially against incorporating ads into its widely-appreciated streaming service, now appears eager to include more advertisements.
On Tuesday, the streaming colossus announced that its ad-supported service currently caters to an international user base of approximately 70 million people. This figure is significantly higher than the 40 million users they reported in May and the 22 million mentioned back in January – a growth trend that major advertisers are keenly observing before fully embracing Netflix’s advertising offerings.
Netflix is experiencing consistent growth in its member base across all nations, as stated by Amy Reinhard, President of Advertising at Netflix. Notably, more than half of the recent subscribers in advertisement-supported countries have opted for the ad-inclusive plan.
As a cinephile, I’ve noticed that while Netflix boasts impressive global numbers, marketers usually don’t go for global ad buys. Instead, they tailor their promotional messages to specific geographic areas. Interestingly, media buyers in the U.S. have hinted that advertisers are yearning for the Netflix ad tier to create more impressions overall. However, the consistent growth in ad-tier subscribers is intriguing, and this could potentially ignite a fresh wave of interest from Madison Avenue.
During this period, Reinhard mentioned that Netflix had already sold out all commercial spaces in its upcoming NFL Christmas Day broadcasts, marking the first time they’ll air live games from a significant sports league. Advertisers for these games include FanDuel and Verizon. Specifically, FanDuel will function as an exclusive sportsbook betting partner during a pre-game program, featuring a sponsored segment where show talent will provide analysis and predictions linked to FanDuel’s odds for the games. Meanwhile, Verizon will sponsor a segment that will air prior to kickoff.
Additionally, she disclosed information about potential sponsors for the upcoming season of “Squid Game.” The executive mentioned that Netflix has collaborated with various advertisers in their 12 ad-supported nations, such as Kia in Korea. As a result of this agreement, Kia will showcase its new crossover SUV, the “New Sportage,” through a series of three connected commercials. Furthermore, Kia will organize an event at the Kia Unplugged Ground in Seoul, where they will host a pop-up event.
Netflix is venturing into new territories by exploring audience metrics and advertising technology, which are becoming increasingly significant for key investors.
Reinhard mentioned that the company plans to leverage technology from VideoAmp, a competitor to Nielsen in audience measurement, for providing advertisers with cross-platform and live viewership metrics, starting with the launch of WWE on Netflix in January. In Brazil, Netflix will employ Kantar Ibope CAV to analyze cross-publisher reach and frequency from early 2025 onwards. Additionally, the company has extended its partnership with Barb in the U.K., using their services to study viewing habits of subscribers to the ad-supported tier of Netflix starting in October.
In the United States, Netflix is now working with Nielsen to gauge live audience numbers for NFL games. This streaming service plans to add its own internal viewership data to the total count, which is part of a fresh approach that has been given the green light by the Media Rating Council recently.
Netflix recently started using its own advertising technology in Canada, marking a step towards independence from the partnership it previously had with Microsoft. “As we progress with our ad tech development, we’re excited about introducing advanced forecasting features and new targeting, reporting, measurement, and insights,” Reinhard stated. “Our internal advertising technology is set to be released globally by 2025.
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2024-11-12 17:19