Netflix's shares reach record high due to 150%+ increase in upfront ad sales commitments.

Netflix's shares hit a record high after the company reported a significant increase in advertising sales, securing upfront ad sales commitments "150% plus" higher than in 2023, with deals made with all major holding companies and independent agencies. The increase in advertising sales comes from upcoming films and series such as "Squid Game," "Outer Banks," and "Happy Gilmore 2," as well as live events like Christmas Day NFL games and "WWE Raw". Netflix plans to launch an in-house ad technology platform by the end of 2025, as it aims to make advertising a significant revenue stream by 2026.

August 20, 2024
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