While the corporation boasts of ad revenues ahead of NFL and WWE debuts, Netflix’s stock sets a record high

Tuesday saw Netflix (NFLX) shares achieve a record-breaking intraday high, climbing more than 2% to $711 per share at session highs. The stock last reached an intraday record high of $701 in 2021. The closing record high for the stock is little under $692.

Once more promoting its entry into the advertising space, the corporation said in a blog post on Tuesday that it has achieved «a 150% plus increase in upfront ad sales commitments over 2023.»

Netflix has secured advertising commitments for future series and events through successful upfront negotiations, which coincide with the platform’s increased focus on its top programming and live sports.

The corporation is well-positioned to raise pricing, according to analysts. The last time Netflix increased the price of its Standard plan was in January 2022, when it went from $13.99 to $15.49 per month. Additionally, the firm increased the monthly cost of its Premium tier by $2 to $19.99; in October, the plan’s price increased to $22.99 once again.

At $6.99 a month, the company’s ad-supported offering—which was debuted less than two years ago and is still among the most affordable ad plans among any of the big streaming players—has not yet seen a price increase.

Netflix reported «steady progress scaling [its] ad business» in its earnings announcement from last month, citing a 34% quarterly growth in ad-tier subscriptions, partly attributable to the elimination of the basic plan in some areas.