The Brief – Monday 20 April: Netflix Q1, cheaper ChatGPT ads, Bauer layoffs and more

📺 Netflix reported 16% year-on-year revenue growth to $12.2bn, with the increase attributed to subscriber growth, price increases, and ad revenue growth. The streaming giant says it now works with 4,000 advertisers globally, up 70% from the year prior, and reaffirmed guidance it would earn ~$3bn in ad revenue this year. (Netflix)

➡️ Meanwhile, Netflix’s co-founder Reed Hastings announced he would step down as its chairman and leave the company. (BBC)

📱 In addition, Netflix announced it will launch a redesigned mobile app at the end of April, which will feature a vertical video feed in recognition of the company’s belief that the lines between “entertainment on TV and mobile devices are blurring”. (The Verge)

📉 Ads on ChatGPT are getting cheaper. After launch CPMs started at $60 nine weeks ago, they have reduced to as low as $25 now. (Digiday)

🗞️ Bauer Media Group announced to staff it would be restructuring its business, including significant job cuts that could impact up to 30% of its publishing employees. Affected roles will primarily be in Germany and the UK. (Digiday)

🤖 OOH specialist agency Talon has launched Atlas Planner, an AI-powered planning tool aimed at improving efficiency and effectiveness of programmatic digital OOH (pDOOH). (Talon)

🔍 The European Union has proposed measures to open up Google data to rival search engines, including AI chatbots, as part of an effort to get the tech giant to comply with its Digital Markets Act. (Bloomberg)

📱 Prime Minister Sir Keir Starmer and cabinet secretary Liz Kendall told social media company executives to adopt the same age verification standards as those used by adult sites like OnlyFans. (FT)