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 Bans Crypto 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.
