Netflix announced on October 17 that its in-house advertising technology platform will roll out in Canada in November, with a broader launch planned for 2025 across all ad-supported markets. The company first announced its new ad platform would be exclusively coming to Canada back in the summer, but now we have a specific launch date.
The streaming giant shared the news in its Q3 earnings report, revealing strong financial performance and strategic initiatives to boost both revenue and user engagement.
“Our in-house ad tech platform will allow us to power the ads plan with the same level of excellence that’s made Netflix the leader in streaming technology today,” said Amy Reinhard, Netflix’s President of Advertising, back in March of this year.
Netflix also noted the expansion of programmatic advertising partnerships with The Trade Desk, Google DV 360, and Magnite, alongside existing partner Microsoft. These additions will give advertisers new ways to buy ads, leverage insights, and measure impact.
In Q3, Netflix’s revenue grew 15% year-over-year to $9.83 billion US, and its operating margin jumped to 30% from 22% a year ago. Net income was $2.36 billion US. Ad-supported membership saw a 35% increase quarter-over-quarter, and the company expects revenue growth of 15% for 2024, with an operating margin of 27%. It looks like Netflix is back, beating Wall Street expectations in Q3.
Netflix highlighted several new hits this quarter, including The Perfect Couple, Tokyo Swindlers, and returning favourites like Emily in Paris and Cobra Kai. The company looks to end the year strong with high-profile releases, including Squid Game Season 2, the Jake Paul vs. Mike Tyson fight, and two NFL games on Christmas Day.
Canada will be the first to get Netflix’s new ad tech. It may be a coincidence, but the Online Streaming Act will force Netflix and others to give 5% of revenues to the federal government.