Netflix starts pressing aggressive ad plans as it races Disney
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Netflix's (NASDAQ:NFLX) plans for an ad-supported level of service are taking shape quickly, amid what the company thinks will be strong advertiser demand.
The streaming pioneer had signaled with its last earnings call that it was targeting launch of the ad tier "around the early part of 2023."
But agency buyers are saying that Netflix (NFLX) is pushing for a Nov. 1 start date, to get a jump on Disney+ (DIS), set to launch its own ad-supported tier Dec. 8.
That urgency is backed up by Netflix hustling to snap up top Snap (SNAP) ad execs Jeremi Gorman and Peter Naylor, as that company prepares to cut 20% of staff in a major restructuring.
And Netflix (NFLX) looks confident: Unlike rival streamers, it's offering advertisers only limited targeting (and no ability to choose which programming to advertise in) at a rich price: Initial rates are $60 to reach a thousand viewers (CPM), and a minimum investment from media agencies of $20M.
Disney+ by comparison reportedly made deals at a CPM of $50. The Wall Street Journal previously reported that along the way, with better ad targeting, Netflix hopes to reach CPMs of $80.
In contrast to the high price and restrictions, Netflix is reportedly being more conservative about expectations for uptake on the ad tier: It's looking for just about 500,000 ad-free subscribers by the end of this year (against a paid subscribership of 220M-plus), but with "exponential" growth as it ramps up in 2023.
Netflix responds "We are still in the early days of deciding how to launch a lower priced, ad supported tier and no decisions have been made. So this is all just speculation at this point." 
Last weekend's reports suggested Netflix is looking at a $7-$9 per month consumer rate for its ad-supported plan.