Netflix, Pushing Into AVOD Fray, Plans New Ad Formats, ‘Crown’ Sponsorship Deals
01.11.2023 - 13:23
/ variety.com
Brian Steinberg Senior TV Editor Netflix is ready to use “The Crown,” “Squid Game” and other signature series to take ad dollars from rival streamers. The company says it will start to offer so-called “title sponsorships” to advertisers ready to align with the new reality series “Squid Game: The Challenge” and the final season of “The Crown” as part of its bid to accelerate the utility of its ad-supported tier.
“We want to shape the future of advertising on Netflix and help marketers tap into the amazing fandom generated by our must-watch shows and movies,” says Amy Reinhard, newly installed as president of advertising at Netflix, in a prepared statement. Netflix is making a new bid to lure Madison Avenue to its offerings even as many ad buyers say the company has yet to generate the scale necessary to win over their clients’ ad dollars.
To be sure, Netflix says its ad-supported tier has won over 15 million monthly active users across the globe. In an October letter to shareholders, Netflix said advertising-tier subscriptions accounted for approximately 30% of all new sign-ups in the 12 counties that supported that platform.
Netflix said it was “working with brands to create formats they will value, in particular the ability to connect with highly conversational and culturally relevant programming.” As recently as this past summer, executives suggested that the Netflix ad-tier subscriber levels in the U.S. were too small to meet guarantees the company might have made to early sponsors.
In late October, Netflix said ad-sales chief Jeremi Gorman, a veteran who was lured from Snap, was leaving the company, replaced by Reinhard, who had previously led studio operations. Starting in the first quarter of 2024, Netflix will
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