Mike Tyson and Jake Paul to headline Netflix's first major live sports event

Mike Tyson and Jake Paul will fight on Friday, marking Netflix's first major live sports event. This comes as the company shifts towards live programming to attract advertisers, having recently increased its ad-supported user base to 70 million. Netflix has made significant moves in live sports, including a $5 billion deal for WWE's "Raw" and a three-season agreement with the NFL for Christmas Day games. The company is seeing strong ad sales, with all inventory for its upcoming NFL games sold out. Despite these developments, Netflix has faced challenges, including leadership changes in its ad unit. Investors are closely watching the Tyson vs. Paul fight as a potential indicator of Netflix's advertising growth strategy.