Cost-per-thousand (CPM) impressions rates are trending downward and narrowing across top streaming services. This is the product of a soft upfront market in early 2023 and rate moderation by Netflix, which launched its ad tier in late 2022 with unrealistically high CPMs. Disney has also lowered CPMs since its late 2022 launch but by a smaller margin. The rate shifts follow historical patterns of services launching with wish-list pricing, only to backtrack in response to buyer resistance.
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