Netflix blocks encrypted ads
Netflix will not allow cryptocurrency ads on ad tier which will be launched soon
According to a report by the Sydney Morning Herald, US streaming giant Netflix has decided to ban ads for cryptocurrency and gambling on the lowest-cost subscription tier that is supposed to go live later this year.
The report, which cites anonymous sources, says that Netflix plans to impose restrictions on policy and pharmaceuticals.
California-based Los Gatos is said to be releasing earlier than expected in order to compete with the ad-supported Disney+ movie, which is set to launch later this year.
The much-anticipated service will launch in Australia, Canada, the United States and Germany on November 1. And the cheapest tier will cost the streaming service just $7. However, no final decision has been made.
In July, Netflix announced that it had signed a partnership with tech giant Microsoft to develop its ad-supported tier. The deal is believed to have serious implications for the company’s future.
The broadcasting giant, which has so far resisted launching a cheaper plan with ads, has adjusted its strategy as it lost more than 1 million subscribers in the second quarter. In the first quarter of 2022, Netflix faced its first joint split in nearly a decade. The Tribal company is struggling to compete with top competitors like HBO Max and Disney+. Paramount, one of Netflix’s main competitors, has already adopted a hybrid morning with ads.
According to a U.Today report, TikTok influencers were banned from promoting cryptocurrency in early July 2021.
Meta (formerly Facebook) also banned encrypted ads in January 2018 before reversing its stance.