• by Wayne Friedman , Staff Writer, October 29, 2024

Netflix is not resting on its laurels in its leading streaming-platform position when it comes to marketing and promotion.

It is starting a brand campaign called “Moments” that allows Netflix users to save key video clips of their favorite shows, and more importantly, allows subscribers to share those clips on social-media platforms like Instagram, Snapchat, Facebook or X.

Social media, of course, is the modern-day process for word-of-mouth marketing. Netflix hopes its subscribers act as their own personal influencers, who in turn will tease other people (Netflix subscribers or not) to do the same.

The big video platform is also using big-time celebrities such as Simone Biles, Giancarlo Esposito, and Cardi B. in a general brand effort, also promoting “Moments,” in a campaign called “It’s So Good.”

In its most recent third-quarter 2024 period, Netflix marketing costs were $642.9 million -- up from $558.7 million a year ago. Over the last nine months, marketing costs were $1.9 billion versus $1.7 billion.

But to a great extent, these costs have little to do with traditional paid TV advertising spending.

Over the last 12-month period (October 2023-October 24), Netflix has spent a grand total of $9.6 million -- coming from 69 airings yielding 333.2 million impressions, according to estimates from EDO Ad EnGage.

Netflix promos have run in the biggest programs and networks -- mostly sports and the NFL in particular: NBC (seven airings, $2.82 million); Fox (six airings, $2.63 million); CBS (10 airings, $2.16 million); ESPN (13 airings, $877,870); and ABC (two airings, $854,850).

Most recent Netflix ads have been to promote special single event sports events, such as a Mike Tyson-Jake Paul live boxing match -- “Paul Versus Tyson.”  Another current promotion is for Netflix’s first ever two live Christmas day games.

It makes sense for Netflix to find new ways to get fans more involved. It has been doing this with its “Tudum” virtual global fan event for some years now. 

What comes next?  This time of year, , as it has done for some time, Netflix continues to tout efforts for major theatrical movies -- shown briefly in theaters before moving fully to the streaming service -- all to amp up possible Oscar and other award show nominations.

One of its key goals here is something that has been elusive: Winning some major hardware awards in the “Best Picture” category -- something which competitor streaming platform, Apple TV+, did in 2022 with “CODA”.

But this will only become tougher. New rules for the Oscars require films in the Best Picture category to have a 7-day run in 10 of the top 50 U.S. markets.

So, for Netflix, a key story arc and drama continues for its marketing spin.