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Netflix Cuts 6% Staff; UK Marketing Budgets Hit Two-Year High

Today's ad tech news digest covers three major stories: Netflix is laying off about 6% of its workforce (around 1,000 jobs) due to slower growth and engagement, marking its largest cuts since 2022. The IPA Bellwether Report shows UK marketing budgets increased at the fastest pace in over two years in Q3, with a net balance of +14.3% and all categories growing, led by PR. A federal judge granted Apple early access to OpenAI's hiring records in its trade secrets lawsuit, including interviews with former Apple employees, and allowed early depositions. The digest also notes S&P Global raised its 2026 UK GDP and adspend forecasts.

• Netflix is laying off about 6% of its workforce, roughly 1,000 jobs, its largest cuts since 2022.
• UK marketing budgets rose at the fastest pace in over two years in Q3, with a net balance of +14.3%.
• A federal judge granted Apple early access to OpenAI's hiring records in its trade secrets lawsuit.

UK Marketing Budgets Rise Across All Categories in Q3

The IPA Bellwether Report for Q3 2026 indicates a broad recovery in UK marketing budgets, with a net balance of +14.3% of marketers increasing spend—the highest in nine quarters and the third consecutive quarterly growth. All main media subcategories saw upward revisions for the first time, including main media (+9.8%) and 'other online' (+17.2%). PR (+15.3%) and events (+15.1%) led growth, followed by sales promotions (+13.1%). Despite this, industry and company-level financial confidence remain negative, though improved from Q2. S&P Global raised UK GDP growth forecasts for 2026 to 1.2%, supported by events like the FIFA World Cup, but risks from geopolitical tensions and high fuel prices persist. Ad spend forecasts were revised up for 2026 to 2.8% but down for 2027 to 1.3%. Industry experts offer mixed reactions, highlighting opportunities in creator marketing, out-of-home, audio, and video, while cautioning about walled gardens and the need for data quality and attention measurement as AI becomes more prevalent.

• Net balance of +14.3% of UK marketers increased budgets in Q3 2026, marking the third consecutive quarterly growth and the strongest since Q2 2024.
• All main media subcategories saw upward revisions for the first time; main media budgets rose by +9.8%, with online, video, and OOH leading.
• PR budgets experienced the highest increase at +15.3%, continuing 13 consecutive quarters of growth, followed by events (+15.1%) and sales promotions (+13.1%).

10-Q Financial Filing Analysis for S&P Global (2026-07-28)

S&P Global reported strong financial performance for the second quarter of 2026, with consolidated revenue rising 10% year-over-year to $4.15 billion and operating profit growing 17% to $1.81 billion. Net income attributable to the company rose 14% to $1.22 billion, yielding diluted EPS of $4.12. Growth was broad-based across segments, highlighted by a 17% revenue increase in Ratings driven by strong investment-grade issuance and a 20% surge in Indices supported by higher ETF and mutual fund AUM and robust derivative trading volumes. In addition, the effective tax-free spin-off of Mobility Global (MBGL) on July 1, 2026, marks a pivotal strategic realignment to focus exclusively on capital, energy, and commodity intelligence.

• Consolidated Q2 2026 revenue grew 10% YoY to $4,146 million, and operating profit rose 17% YoY to $1,812 million.
• The separation and 100% spin-off distribution of Mobility Global Inc. (MBGL) to shareholders became effective on July 1, 2026, shifting Mobility to discontinued operations starting Q3 2026.
• Ratings revenue grew 17% YoY to $1,339 million on a 25% surge in billed issuance ($1,268 billion), while Indices revenue jumped 20% to $534 million.