Netflix yesterday shared 7 updates and plans for its ad product. In an official statement, Netflix highlighted the accomplishments of the past year, underlining their commitment to refining the advertising landscape within streaming platforms.
Netflix's vision extends beyond conventional advertising, with a desire to "shape the future of advertising on Netflix" and enable marketers to engage with the platform's viewership.
Partnerships have played a crucial role in this journey, with Netflix collaborating closely with Microsoft Advertising to enhance their offerings and create opportunities for clients. In just 12 months, they have achieved significant milestones:
1. Elevated Measurement Capabilities: Netflix expanded its measurement capabilities and introduced third-party verification with partners such as Integral Ad Science and DoubleVerify, extending these capabilities globally. The platform also enabled advertising impact with EDO Inc. and launched Nielsen ONE measurement in the United States.
2. Diverse Ad Formats: Netflix has gone beyond traditional advertising lengths by introducing a range of ad durations globally, providing clients with multiple formats to leverage. The categories available for advertising have expanded to include various sectors. Additionally, more targeting options have been introduced, encompassing mobile devices, genres, time of day, and audience demographics. With the introduction of Top 10, advertisers can now target the most popular series and movies on Netflix.
3. Enhanced Member Experience: Netflix has upgraded its ad-supported plan to offer higher video quality, multiple concurrent streams, and the ability for members to download their favorite content.
4. Binge Ad Format: Starting in Q1 2024, advertisers globally will have access to a new "binge ad" format, tailored to the behavior of viewers watching multiple episodes in succession.
5. QR Code Integration: In early 2024, Netflix plans to launch the ability for advertisers to showcase QR codes in their creative content running on the platform in the United States.
6. Sponsorships: Netflix has introduced sponsorships in the United States, which will expand globally in 2024. These sponsorships include various types of sponsorships linked to cultural events and live sports events.
7. Global Campaign Verification: Netflix is actively working to bring more measurement capabilities to its advertisers globally and is set to partner with international third-party providers to enable campaign verification in 2024.