The news: Netflix and AB InBev announced a sweeping global marketing deal that ties the world’s largest streamer to the brewer behind Budweiser, Stella Artois, and Corona.

• The partnership spans sponsorship of Netflix programming and live events—including NFL Christmas Day games and the Women’s World Cup—while Netflix IP will extend into beer packaging and promotions worldwide.
• Executives described it as a move built on shared cultural moments, with potential for product placements in shows like “The Gentlemen” and even co-created beers.

Why it matters: Pairing with a global advertiser like AB InBev signals Netflix’s intent to cement advertising as a core growth driver.

• The streamer’s ad-supported tier already reaches 94 million global users just two years after launch. US ad revenues are projected to rise from $660 million in 2023 to nearly $3 billion by 2027, per our forecast, though YoY growth will cool from 108% in 2024 to under 20% by 2027.