Netflix, now on ad sales, takes the traditional CBS slot during the week ahead with a presentation at the Paris Theater in New York

Netflix, which now has ads to sell, has stepped in to take over the traditional CBS closing of its traditional May show.

The streaming giant, which introduced an advertising shift in November, will host ad buyers at New York’s Paris Theater on May 17. CBS parent company Paramount Global, which has continued the tradition of pre-airs at Carnegie Hall, decided this year to end its slot at the end of what has always been known as pre-air week. The company will instead focus on more intimate meetings with advertisers.

Of course, the show soon morphed into something more mixed, with offerings that for years included cable and gobs of digital and streaming. But they still hold a place in the hearts and agendas of decision makers who manage billions of advertising dollars.

Netflix took over the Paris lease in 2019 and used the iconic single-screen venue next to the Plaza Hotel to show a range of films and series. Sure, many of them are Netflix originals and the site often hosts premieres, but it’s also a kind of repertoire house where directors can program work that has influenced them, for example. Of course, the previous week was not about the art of filming, but about the reality of trading. After years of insisting it didn’t need advertising, Netflix made a U-turn a year ago amid deteriorating financial performance. It hasn’t posted any initial numbers for the $7-a-month level, but many Wall Street analysts see it growing into a multi-billion dollar contributor to overall sales by 2025.

Another tech giant, YouTube, has long had a presence during NewFronts, a tech-focused commercial blitz that takes place earlier in the spring, though last year marked the first time the digital video destination was held during the traditional previous week. While Paramount bails, NBCUniversal has committed to an event starting May 14 at Radio City Music Hall. It is unclear what other players are up to. Last year, Disney wove messaging across Disney+, Hulu and ESPN+ into a broader offering across the many linear brands. Warner Bros. Discovery took over the previous slot from WarnerMedia and Turner Networks for the first week of last year, giving regular shoutouts to HBO Max and Discovery+. The CW is under new ownership by Nexstar Media Group and given the cost-conscious atmosphere created by the new parent company, a smashing preview reminiscent of past editions seems unlikely