Netflix, Inc. NFLX shares are trading higher Tuesday. Here’s what you need to know.
What’s Going On: Netflix announced that it secured over a 150% increase in upfront ad sales commitments compared to 2023. The company also plans to launch an in-house ad tech platform in Canada this November, with a global rollout set for 2025.
Netflix has locked in ad commitments from various sectors, including Consumer Packaged Goods (CPG), Technology, Entertainment, Automotive, Quick Service Restaurants (QSR) and Retail. Companies like Pure Leaf, Amazon Audible and Booking.com have signed on as sponsors for upcoming seasons of popular series such as Bridgerton.
NFLX Price Action: Netflix shares were up by 1.39% at $698.10 according to Benzinga Pro.
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