Netflix shares hit a record high of $710 at the start of trading. However, the price later moderated its advance and stood at $698.36, up 1.4%. On the Buenos Aires stock exchange, Netflix’s Cedear rose 1.9%.
The shares of the American giant of entertainment Netflix reached a new historic record on Wall Street on Tuesday, after announcing a increase of more than 150% in advance sales of advertising.
Netflix shares hit a record high of $710 at the start of trading. Later, however, the price moderated its advance and stood at US$698.36, with a rise of 1.4%. On the Buenos Aires stock exchange, Netflix’s Cedear rose 1.9%.
Netflix confirmed that it closed several agreements with major advertising groups and independent agencies, and achieved increase its advance ad sales by more than 150% compared to 2023, in line with its expectations.
The company recalled that, as it announced in May, Advertisers now have new ways to buy advertising space and measure its impact.
Netflix shares record high: self-advertising by 2025
Netflix expects to launch its own advertising platform in 2025which will be tested in Canada in November.
The entertainment company began offering cheaper ad-supported plans in 2022, a strategy that initially did not yield good results. However, the latest data offered by Netflix seems to have consolidated this bet.
Source: Ambito
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