Netflix, in its first-ever presentation at the upfronts – the annual advertising marketplace, showcased its wide-ranging content to advertisers on Wednesday. Competing against Walt Disney Co, Comcast Corp, and others for digital ad revenues, the presentation emphasized Netflix’s versatile programming from “Stranger Things” to “Squid Game” and the forthcoming sequel “Extraction 2”.
Bela Bajaria, Netflix’s chief content officer, stated that no other entertainment firm aims to produce quality content across such a wide array of genres, countries, and for such a diverse audience.
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Netflix’s President of Worldwide Advertising, Jeremi Gorman, announced that the ad-supported plan has reached five million monthly active users globally. This metric includes all adult profiles utilized on an ad-filled account, excluding children’s profiles which are ad-free.
As of March end, Netflix had a reported 232.5 million paying subscribers worldwide.
The executives expressed their eagerness to collaborate with advertisers to introduce innovative advertising types exclusive to digital services. For instance, co-Chief Executive Ted Sarandos proposed the idea of a serialized 30-minute commercial that unfolds over several days, enhancing the viewing experience each time a show is watched on Netflix. Such an innovative ad format, Sarandos highlighted, is impossible on linear TV as viewers don’t stick to a single channel.
The initial plan was to conduct the ad presentation live in New York, but due to anticipated protests from the Writers Guild of America, it was shifted to a virtual platform. This news is based on a report by CNBCtv18.
