Netflix Bans Crypto Ads

According to a report from the Sydney Morning Herald, US streaming giant Netflix has decided to ban cryptocurrency and gambling ads on its cheaper subscription tier which is supposed to go live later this year. year.

The report, which cites unnamed sources, also says Netflix plans to impose restrictions on politics and pharmaceuticals.

The Los Gatos, Calif.-based company is reportedly launching ahead of schedule to compete with the ad-supported rip Disney+, which launches later this year.

The highly anticipated service will launch in Australia, Canada, the United States and Germany on November 1. The cheapest tier will only cost the streaming service $7. However, no final decision has been made.

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In July, Netflix announced it had signed a partnership with tech giant Microsoft to expand its ad-supported tier. The deal is believed to have serious ramifications for the company’s future.

The streaming giant, which has so far resisted launching a cheaper plan with ads, changed its strategy by losing more than a million subscribers in the second quarter. In the first quarter of 2022, Netflix faced its first subscriber defection in nearly a decade. The tribalizing company is struggling to compete with high profile rivals such as HBO Max and Disney+. Paramount, a major competitor to Netflix, has already adopted a hybrid morning with advertising.

As U.Today reports, TikTok influencers were banned from promoting cryptocurrencies in early July 2021.

Meta (formerly Facebook) also banned crypto advertising in January 2018 before reversing its position.