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Netflix began the week valued at $59 billion less than it was last Monday. Despite seeing record quarterly revenue of $7.9 billion, the world’s largest streaming service lost 200,000 customers in the first three months of the year.
While Wall Street quaked, Madison Avenue rejoiced as Netflix announced it would finally open up its service to advertising.
It’s a win for consumers, marketers, ad tech and Netflix itself, adding billions to its bottom line. (For comparison, Hulu, which has an ad-supported tier, brought in $2.1