Millennial, Gen-X Opps: Netflix launches campaign after promoting CMO (Score 60)
Netflix started ramping up advertising for its reality and romance genre with new work from Chemistry. Dubbed "Love Has No Off Season," the contest-centered promotion let fans be paired with Netflix reality stars as their plus-ones to weddings this summer. We'll likely see more promotional activity around the genre throughout the summer, so sellers should contact soon to secure last-minute ad dollars.
So far this year, iSpot reports Netflix has spent approximately $27m on national TV commercials, more than double the approximately $14m spent within the same 2021 timeframe. The streaming platform ended up spending approximately $44.3m on this channel last year, down 29% from the approximately $62.6m spent in 2020. Netflix's 2022 commercials have targeted male sports enthusiasts watching shows such as NFL Football, NBA Basketball, The Masked Singer, This Is Us and the 2022 Indianapolis 500.
According to Pathmatics, the company has allocated roughly $10.9m toward digital ads YTD, less than half of the roughly $22.4m allocated by this point last year. In 2021, Netflix's estimated full-year spend dropped significantly to $48.1m from that of $96.1m in 2020. Since the beginning of 2022, the company has earned around 1.3b digital impressions via Instagram (51%), Facebook (17%), desktop video (15%), Twitter (7%), desktop display (7%) and mobile display (3%) ads.
Netflix usually targets relatively younger audiences, but the fact that its TV spend is increasing so rapidly while its digital spend is dwindling leads me to believe it's currently targeting older ones, primarily millennials and Gen-X. Kantar data shows Netflix also invests in radio, print, OOH and local broadcast.
Agency & martech readers - We haven't heard of any roster shifts following the company's promotion of CMO Marian Lee earlier this year, so get in touch to see what work is available if you haven't yet done so. Netflix currently works with media planning and digital AOR Mediahub LA, digital AOR 160over90 and social AOR VIRTUE Worldwide. The company receives additional support from Mother NY (creative), Nobox (digital, social and experiential), Palisades Media Group (digital and media planning), Ralph (social), Rapport Outdoor (media buying and planning), Sid Lee (creative and digital) and TBWA \ Chiat \ Day (creative).