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Analysis: Netflix, AB InBev deal shakes up alcohol ad market

October 2, 2025

AB InBev’s brands — including the likes of Budweiser, Corona and Stella Artois — will soon be advertised on Netflix following a global deal with the brewing giant.

Ampere’s latest analysis shows that Netflix currently holds a tiny share of the ad contracts in this lucrative sector, a space historically dominated by Hulu and Warner Bros Discovery’s (WBD) HBO Max and Discovery+. With Netflix’s ad-supported tier now reaching 94 million monthly users and live ad slots available around the NFL’s Christmas Day 2025 and the 2027 FIFA Women’s World Cup, this partnership is poised to change the category’s dynamics.

Key findings from the analysis include:

  • In the last seven months (March 1st – September 21st), only 0.15 per cent of ads on Netflix were for alcohol brands, compared to 4.3 per cent for Hulu, the category leader in alcohol brand advertising.
  • Of the 180 unique creatives run by alcoholic drinks brands on streaming services promoting 70 different products over the last seven months, Hulu carried 159 (88 per cent of the total) and HBO Max 91 (51 per cent of the total). Creatives can run on several platforms simultaneously, so counts overlap.
  • WBD’s services remain attractive to alcohol advertisers: alcohol comprised ~3.5 per cent of Max inventory and ~2 per cent of Discovery+ over the period.
  • AB InBev and Diageo are the most prolific alcohol advertisers on streaming platforms. Modelo and Corona brands are the focus of AB InBev’s streaming campaigns, while Diageo shares its streaming ad spend across multiple spirits brands, including Baileys Irish cream, Crown Royal whiskey, and Smirnoff vodka.
  • When it comes to genre, alcoholic beverage brands are particularly keen on food and drink-related content, as well as major drama. Shows like The Bear on Hulu, Criminal Minds on Paramount+, and The Sopranos on HBO Max offer media planners relevance and scale.

Netflix and AB InBev: a powerful relationship

  • A profitable partnership. AB InBev can manage its portfolio of over 500 global brands through a single, scalable global streaming partner. Netflix secures a major client in a high-spending ad category, where it can pair its top originals and live events with the brewer’s products for optimised cross-promotion. The streamer can leverage its global reach to tailor ad creatives to local audiences.
  • Brand exposure. Ampere expects beer brands Modelo and Corona to remain a focus for AB InBev’s campaigns. The brand owner will maximise the opportunity to promote its other international brands – such as Stella Artois – in the US.
  • Content and context. Netflix has the programming covered if the trend of alcohol ads appearing in food, crime, and drama shows continues. Relevant shows include cooking competition show Barbecue Showdown, British crime dramedy The Gentlemen, and the new mini-series House of Guinness.

Andrew Dougert, Analyst at Ampere Analysis, commented: “Over the last seven months, the number of streaming alcohol ads has increased on average. This partnership gives Netflix a flagship player in a category where it has historically underperformed, and offers AB InBev premium reach to a huge global audience. From a low base on Netflix, we expect the alcohol ad share to increase, and for Hulu and WBD to defend their leadership position.”

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