The fact they don't sell ads doesn't mean they are not in the business of selling users data to third parties.
Also Netflix wasn't initially selling ads and there you have after increasing the price of their plans drastically in the last few years the ad supported subscription is probably the #1 plans because most people aren't willing to shed 15 to 25usd/€ every month to watch content that is already littered with ads.
If you sell ads you're actually incentivised not to sell data because then your competitors would be able to reach your users without paying you
You're incentivized not to sell targeting data, but you're very incentivized to collect and maintain as much of it as you can, and then offer access using it as a service.
So, at the end of your day, company X has an overdetailed profile of you, rather than each advertiser. (And also, at least in the US, can repackage and sell that data into various products if it chooses)