"The best thing about starting from zero is that practically any growth feels like a lot. Which partly explains why Netflix's less-than-three-year-old advertising business always seems to be expanding at an exponential rate. Last quarter was no exception. In a livestreamed presentation to investors on Tuesday, co-CEO Greg Peters shared that Netflix had its "best ad sales quarter ever" in Q3, more than doubling its upfront commitments for this year."
"Ad revenue is still expected to double in 2025, albeit "still off a relatively small base," according to Netflix's letter to shareholders. (If that sounds familiar, it's because Netflix also doubled ad revenue last year, with the exact same, word-for-word caveat.) Overall, Netflix posted $11.5 billion in revenue last quarter, up over 17% year over year. As per its current policy, how much of Netflix's revenue came from advertising was not disclosed."
Netflix recorded its best ad-sales quarter in Q3, more than doubling upfront commitments for the year. Ad revenue is expected to double in 2025, though it remains off a relatively small base. Overall revenue was $11.5 billion for the quarter, up over 17% year over year, with advertising contribution undisclosed under current policy. Programmatic buying growth and the full rollout of the Netflix Ad Suite across 12 ad markets increased fill rates and ad sales momentum. The company plans investments in advanced measurement and targeting, will introduce interactive formats starting in Q4, and is adding demand partnerships including Amazon DSP and AJA in Japan.
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