Netflix Inc. upended the global entertainment industry about a dozen years ago when it launched a streaming video service that rendered network television programming schedules and movie screening times obsolete.
Netflix is now aiming for the pay TV industry’s final reel: its estimated $153 billion pool of global advertising revenue. The company and some analysts see its new, lower-cost ad-supported service, which was detailed in a rosy quarterly report on Tuesday, as a way to boost revenue as customers cut back on spending due to the economic downturn. As the size of the TV audience shrinks, it becomes less appealing to advertisers and a prime target for Netflix to disrupt.
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Netflix Inc. upended the global entertainment industry about a dozen years ago when it launched a streaming video service that rendered network television programming schedules and movie screening times obsolete.
Netflix is now aiming for the pay TV industry’s final reel: its estimated $153 billion pool of global advertising revenue. The company and some analysts see its new, lower-cost ad-supported service, which was detailed in a rosy quarterly report on Tuesday, as a way to boost revenue as customers cut back on spending due to the economic downturn. As the size of the TV audience shrinks, it becomes less appealing to advertisers and a prime target for Netflix to disrupt.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
