Netflix revealed the size of its advertising business for the first time in its 4Q25 results. The company made more than $1.5bn from ads in 2025, a 150% increase over 2024. But behind this rapid growth lies an ad business that is not living up to its potential, nor Omdia’s expectations.
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Netflix’s ad business grew rapidly in 2025, but it is still far from fulfilling its potential
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The Analyst Team
Matthew Bailey
Follow AnalystSenior Principal Analyst, Advertising
Matthew Bailey leads Omdia’s advertising research, covering the global digital and traditional media advertising sectors. Matthew’s research focuses on the ad operations of big tech players, TV broadcaster advertising strategies, ad-supported online video (AVOD/FAST), retail media, and the evolving connected TV advertising landscape.
He also has expertise in—and produces research into—the broader media, entertainment, and technology industry, including OTT video, digital publishing, social media, video games, and consumer platforms and devices.
Prior to joining Omdia, formerly Ovum, in 2015, Matthew worked as a senior research analyst at MarketLine. He holds a degree in English language and literature from the University of Leeds.
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