Netflix Inc. NFLX, Walt Disney Co. DIS and other streaming services are gearing up for a significant advertising push at the upcoming Consumer Electronics Show (CES) in January.
What Happened: Netflix will have its most substantial presence at CES in years, reported Business Insider, adding that the focus will be on promoting its new sci-fi drama, “3 Body Problem.”
The creators of the series, David Benioff, D.B. Weiss, and Alexander Woo, will engage with media representatives at the event.
Netflix’s newly appointed advertising president, Amy Reinhard, will meet with top brand and advertising executives. This comes at a time when the streaming leader has underscored its profitability while rivals are struggling.
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Disney’s top advertising executive, Rita Ferro, will oversee the company’s Tech and Data Showcase at CES for the first time. The House of Mouse is currently testing a unified Disney+ Hulu app, which is expected to launch officially in Spring 2024.
On the other hand, Amazon.com Inc. AMZN is gearing up to show ads on Prime Video starting Jan. 29. Subscribers will have to either watch ads or pay an additional $2.99 monthly fee.
Why It Matters: This major ad push from streaming services comes at a time when they are facing increasing pressure. Previous reports revealed Warner Bros Discovery Inc. WBD, Comcast Corp. CMCSA, and Paramount Global PARA are grappling with massive losses from their streaming services due to stiff competition, particularly from Netflix.
These companies have reportedly incurred over $5 billion in losses over the past year from their online platforms, leading to speculation about potential mergers, cost cuts, and divestment of legacy businesses.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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