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Netflix is moving into live events that can capture mass audiences as a means to attract advertisers.

Live events are crucial for drawing millions of eyeballs at once, which is what advertisers want.

Taken as a whole, advertisers are set to spend a record £10.5bn this festive season, according to the Advertising Association and World Advertising Research Centre.

He contended last year that the site was regaining advertisers and “roughly” breaking even.

Facing a mass exodus of advertisers over his relaxation of the platform's user speech policies, the entrepreneur also monetised elements of the site to raise revenue.