Streaming platform Netflix will not allow cryptocurrency advertising on its soon-to-launch ad-supported tier
According to a report in the Sydney Morning Herald, American streaming giant Netflix has decided to ban cryptocurrency and gambling ads on its cheap subscription tier, which is set to go live later this year.
The report, which cites anonymous sources, also says that Netflix plans to ban politics and pharmaceuticals.
Los Gatos, Calif.-based Disney+ will launch earlier than expected to compete with ad-supported teardrops, which will launch later this year.
The much-awaited service will launch on November 1 in Australia, Canada, the US and Germany. The cheapest tier of streaming service will cost only $7. However, no final decision has been taken.
In July, Netflix announced that it had partnered with tech giant Microsoft to develop its ad-supported tier. It is believed that this deal will have a serious impact on the future of the company.
The streaming giant, which has so far resisted launching a cheaper plan with ads, has revised its strategy to lose more than a million subscribers in the second quarter. In the first quarter of 2022, Netflix suffered its first customer defection in nearly a decade. The tribal company is struggling to compete with high-profile rivals from the likes of HBO Max and Disney+. Paramount, a major competitor to Netflix, has already embraced a hybrid dawn with advertising.
As reported by U.Today, TikTok influencers were banned from promoting cryptocurrencies in early July 2021.
Meta (formerly Facebook) also banned crypto advertising before changing its stance in January 2018.