Netflix won’t show crypto ads on its upcoming Australian streaming service

Video streaming company Netflix plans to filter out certain ads, including cryptocurrency ads, on its new ad-based streaming service which will launch later this year, Australian media reported.

Australia’s Sunday Morning Herald reported that only domestic customers can buy ad slots for its new Australian streaming service due in November.

Additionally, Netflix will not market products for young people or air political and gambling advertisements. Citing sources, the report further states that Netflix is ​​also considering restrictions on pharmaceutical ads.

However, the company is still working out the details. According to the report, the ad-supported tier could cost as little as Rs. 360, while “paying” customers can continue to enjoy Netflix ad-free.

Australia announced in August its intention to regulate crypto assets and related advertisements so that users are “sufficiently informed and protected”, although these guidelines do not explicitly ban Bitcoin advertisements.

Netflix announced in July that it would work with Microsoft to establish a new level of advertising.

On Tuesday, he announced the hiring of former Snap executives Jeremi Gorman and Peter Naylor to manage the new publicity team. But he has yet to reveal how much he plans to charge for the service.

Netflix isn’t the first streaming service to include ads. Platforms like Paramount, which owns Network Ten, and Amazon Prime Video, are already using a mixed strategy.

Disney also hinted at an ad-supported service. Last month, Disney overtook Netflix in subscriber numbers. Its three platforms: Disney+, ESPN+ and Hulu had 221.1 million subscribers, compared to Netflix’s 220.6 million subscribers. As competition intensifies, companies are looking for ways to grow their subscriber base and revenue.

What does this mean for the user?

If Netflix follows the same approach globally, then users can expect a well-thought-out advertising structure like the television industry, which censors and filters advertising content to protect the interests of viewers.

Netflix believes that tapping into viewer demand for more family-friendly content could help boost its long-term profits.