Netflix beefs up team and tech to push ad service
The streaming giant hopes new hires and a bespoke ad tech platform will help fuel a “multi-year trajectory” for its advertising business.
Netflix is ramping up investment in its advertising business, with ad supported customers now representing 45% of new sign-ups to the streaming service.
Announcing its second quarter results yesterday (18 July), Netflix wants to claim a larger share of overall TV viewing time, while also growing new areas such as live broadcasts, gaming and advertising. The streaming giant will, for example, be streaming two NFL games live on Christmas Day.
The advertising tier membership – a lower cost package launched 18 months ago which shows ads – grew 34% during the second quarter compared to the same period in 2023. According to CFO Adam Neuman, the ad tier is “scaling well” through reach, engagement and a growing inventory.
