Netflix's Competitors Are Drastically Outspending It on TV Ads
As live sports and primetime programming went off the air this spring amid the COVID-19 pandemic, streaming services like Amazon (NASDAQ: AMZN) Prime Video and Disney's (NYSE: DIS) Hulu and Disney+ saw an opportunity to offer TV viewers an alternative. TV ad spending among streaming services tripled in the first half of 2020 compared to last year, according to data from iSpot.tv.
And while the top of the list included a couple of expected names in Amazon and Disney, Netflix (NASDAQ: NFLX) is conspicuously absent from the top 10 most-advertised streaming services on TV. In fact, while Netflix's competitors were increasing their marketing spend, the streaming leader actually decreased its overall spend through the first six months of the year. Despite its lack of ad spending and increased competition, Netflix managed to grow its U.S. and Canadian subscribers by 5.25 million through the first half of the year, nearing 73 million across the region.
Image source: Netflix.
Source Fool.com
