Will Netflix Lose More Followers by Banning Cryptocurrency in Ad Services?

Will Netflix Lose More Followers by Banning Cryptocurrency in Ad Services?

Will Netflix Lose More Followers by Banning Cryptocurrency in Ad Services?Netflix might ban its platform’s cryptocurrency, political, and gambling adverts.

The American streaming service giant Netflix is reportedly looking to launch a new advertising tier. Desperate to boost revenues, Netflix would be launching a cheaper subscription tier that features commercials. The cheapest tier will cost the streaming service only $7. However, no final decision has been made. Initially, Netflix was planning to launch its ad-supported tier at the start of 2023.

Cryptocurrency continues to be an evolving space, and we may refine these rules over time as the industry changes. But Netflix might ban cryptocurrency, political, and gambling adverts on its platform. The featuring of cryptocurrency ads and such with political or gambling content is not on Netlix’s agenda. Due to regulatory scrutiny, crypto bans are nothing new for the digital asset industry.

 

Netflix might ban cryptocurrency:

The Netflix company might not support some marketing campaigns with political, gambling, and cryptocurrency content. 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 announced that it had inked a partnership with tech giant Microsoft to develop its ad-supported tier

Netflix had begun discussion with Australian advertisers to roll out ads before an episode, or a movie starts. There is still a lack of clarity if the prohibition on cryptocurrency advertisements will completely apply to Australia or if other nations will be included in the crypto ad ban. The Netflix and Microsoft deal is believed to have serious ramifications for the future of the company. The services are supposed to be launched in Australia, U.S, Germany, and France.

Netflix has moved up the timeline for launching its cheaper ad-supported tier to compete with Disney+, which is launching its ad-based plan. The tribalizing company is struggling to compete with high-profile rivals of the likes of HBO Max and Disney+. A major Netflix competitor, Paramount has already embraced a hybrid morning with advertising. The advertisements which shall not be included also include campaigns related to products that target children.

Social platform Facebook, now called meta also banned crypto advertising back in January 2018 before reversing its stance. In 2021, Google-parent Alphabet reversed a ban on crypto-related advertisements, allowing exchanges and wallet operators to again promote their services on the search engine. TikTok influencers were banned from promoting cryptocurrencies in early July 2021. The number of global subscribers has been depreciating in consecutive quarters, and to address that Netflix would launch a new ad-supported service that would boost revenues.