Netflix is prohibiting crypto-related commercials in its ad-supported streaming.
Netflix recently announced its ad-supported subscription.
This new subscription on their streaming platform will allow brands to have the
opportunity to showcase their products through ads.
For the subscribers, this will allow them to continue
streaming on the platform with much cheaper subscription payments.
Netflix has not yet revealed the official list of the plans
for their ad-supported subscription, but they are currently in the processing
phase.
However, with today's news, the company revealed that they
would not accept crypto-related advertisements.
Netflix is leaning towards banning advertisements that will
put its customers in jeopardy.
According to Crypto Briefing, Netflix has initiated
conversations with numerous Australian advertisers. The streaming service
stated that in their new ad-supported subscription plans, they would not allow
certain types of advertising.
Netflix has come to the conclusion that it will not allow
any advertising campaigns that are linked to politics, gambling, or cryptocurrency
on its new membership tier.
The streaming company will also carefully regulate
advertisements and will not allow those advertisements to target children. In
addition to that, it is also looking at the possibility of imposing
restrictions on advertisements for pharmaceutical products.
It is not clear whether the ban on crypto-related
advertisements would simply be enforced in Australia or whether it would also
apply to all nations that get the ad-supported service, such as Germany,
France, Canada, the United States of America, and the United Kingdom.
However, there is no official statement on whether Netflix
will only implement these types of bans in advertisements in Australia only.
The advertising standards that Netflix will implement in the
future are still up in the air for now. No decisions have been made on the
advertising model yet as the company is still in the early phases of developing
it.
Netflix Ad-Supported Tier
Netflix's ad-supported tier is a new initiative of the
company to increase its revenue. This new ad-supported subscription will
provide new plans for users at a much lower and more reasonable price.
This is also an initiative the company is taking as it wants
to attract more subscribers as it has seen a plethora of subscribers globally
decline in consecutive quarters.
The streaming company first announced plans for an
ad-supported tier in July. Netflix crafted this new idea to also help improve
the company's revenue and, at the same time, attract more users to its
streaming platform.
According to Cointelegraph, the streaming company had a loss
of 970,000 paid members during the second quarter of 2022, following a loss of
200,000 paid customers during the first three months of 2022.
In June, in response to the slowing growth of its income,
Netflix said that it would reduce its expenses in order to maintain its margins
at 20%.
When it was first announced, Netflix stated that they would
introduce the plans to their customers in early 2023. However, the company is
now changing the launch date.
In order to better compete with Disney+, which was also
reported to debut its own ad-supported subscription plans on December 8,
Netflix has brought forward the timeframe for the introduction of its more
affordable ad-supported tier to November.
The new launch date is reported to be November 1. It will be
available in countries including the United States of America, Canada, the
United Kingdom, Germany, and France.
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