Netflix has reportedly banned cryptocurrency related commercials on its ad-supported subscription tier, which is scheduled to launch in November.
Netflix has decided to reject all advertising campaigns related to politics, gambling and cryptocurrency on its new subscription tier. The new tier will also not run ads selling products to children. The same sources indicated that restrictions on pharmaceutical ads were also being considered.
Netflix has moved up the timeline for launching its cheaper ad-supported tier to November to compete with Disney+, which is launching its own ad-based plan on Dec. 8. Initially, Netflix was planning to launch its ad-supported tier at the start of 2023. Netflix’s new subscription tier will go live on Nov. 1 in several countries, including the United States, Canada, United Kingdom, Germany and France.
With global subscribers declining in consecutive quarters, Netflix announced in July it would launch a new ad-supported service to boost revenues. In the second quarter, the streaming giant lost 970,000 paid subscribers after losing 200,000 in the first three months of 2022. Faced with slowing revenue growth, Netflix disclosed in June it would cut costs to keep its margins at 20%.
