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Netflix has more than doubled the user base of its ad-supported tier in the past year, reaching 94 million monthly active users globally. That headline figure, revealed at its third annual upfront at New York’s Perelman Performing Arts Center, is a clear signal that the world’s largest streamer is serious about its advertising ambitions. But as Netflix builds its ad business, the underlying message was more tempered: there’s still work to do.

“Our foundation is in place,” said Amy Reinhard, Netflix’s president of advertising. “Now we’re getting up to speed.” The company’s proprietary Ads Suite—its self-serve ad tech platform—continues to roll out globally, with full coverage across all 12 ad-supported markets expected by June. New features include brand lift measurement, third-party data integrations, and campaign tools—but several promised upgrades won’t launch until 2026.

What Netflix lacks in programmatic polish, it’s compensating for in brand creativity. CMO Marian Lee detailed bespoke campaigns tied to flagship titles like Wednesday (with Wendy’s, Booking.com, and Cheetos) and past activations involving Squid Game and WWE Raw. These integrations reflect Netflix’s preference for content-native brand experiences over conventional midrolls.

Netflix is also emphasizing engagement. With nearly 170 million estimated individual viewers across profiles, the platform offers unmatched reach but still faces advertiser skepticism about measurement, frequency control, and ROI. With a growing slate of live sports, original series, and docuseries — Netflix is positioning itself not just as a streaming giant, but as a maturing media ecosystem.