The Ratings Game: Netflix’s foray into ad-backed content was rushed and the pricing is too high compared with peers, analyst says

Benchmark said Friday it’s too early to assess Netflix Inc.’s foray into advertising-backed content but said it feels the launch was rushed, the pricing is too high compared with peers and that the immediate audience is likely limited.

Netflix stock NFLX sank 9% on Thursday, after Digiday reported the company was not meeting viewership guarantees to advertisers and is allowing ad buyers to withdraw money for ads that have not yet run, or roll them into 2023. The site said that Netflix is, in some instances, delivering just…