Get marketing news you’ll actually want to read
Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.
Netflix is getting further into the weeds of its advertising business.
The world’s biggest streaming platform, which has been hard at work building out its ads platform, is partnering with cloud data platform Snowflake, data broker LiveRamp, and clean-room technology company InfoSum. The partnerships will give advertisers access to clean rooms, a relatively nascent privacy technology that lets advertisers share data across platforms.
“The clean rooms will allow advertisers to determine audience overlap, post-campaign reach and frequency, and last-touch attribution in a secure environment,” according to a company press release.
While Netflix’s advertisers can use Snowflake’s clean room today, InfoSum and LiveRamp will follow in the “coming months,” the company said.
Building blocks: Netflix executives have been upfront about their efforts to build out their ads business as they look to boost revenue and subscribers.
“We’re adding more sales folks, we’re adding more ads operation folks, [and] building our capabilities to meet advertisers,” Greg Peters, co-CEO of Netflix, told investors in July. “A big component of that is giving advertisers more effective ways to buy Netflix. It’s a big point of feedback that we heard from advertisers.”
Netflix touted 278 million member households, and through subscription fees and ad revenue, made $9.6 billion in the quarter ending June 30, the company shared in its Q2 earnings.
The platform has slowly built out its advertising business, which it first introduced in 2022, initially selecting Microsoft to exclusively handle the tech and sales side of the business. A year later, the duo reworked the partnership to lower ad prices, the Wall Street Journal reported. Netflix has since signed deals with some of the largest ad-tech companies, including Google, Magnite, and The Trade Desk, to expand its programmatic offerings, and is looking to roll out its own in-house ad server by 2025.
Presumably, the newly announced partnerships will offer advertisers more tools in their digital toolbox, and new ways to reach audiences.
Still, some ad buyers have expressed frustration over the platform’s slow progress growing the size of its ad-supported tier. The company has also lost some of its ad tier’s most vocal supporters: Peter Naylor, Netflix’s VP of global advertising sales, departed the company last month.
Read the full article here
