🗞️ Netflix Ad Flop
Netflix got its ad supported tier out in time to beat Disney+ and lure in some holiday budgets from big brands, but now they’re giving those advertisers their money back. Some of it at least. Turns out they don’t have a big enough audience to meet their guarantees, so they’re refunding the difference.
It’s a classy move. But is it also a sign of more revenue troubles ahead for the OG streaming service? Based on viewing habits, they don’t have a competitive content moat and gaming hasn’t saved the day yet. 2023 could be make or break.