Netflix Doesn’t Allow Crypto Ads, Here’s Why!
Netflix, the world-famous streaming platform, has placed a ban on crypto-related advertisements and commercials.
These ads shall not be allowed at the ad-supported subscription level. This is planned to be launched in the month of November, which is quite early for the planned date.
According to other local sources, it was reported that Netflix has decided that they will not accept advertising campaigns that are related to cryptocurrencies, gambling and even politics and will not be included in this subscription level.
The ads that should not be included also include campaigns related to products aimed at children.
In addition, Netflix is also not on board with advertisements linked to the pharmaceutical industry.
The California-based platform will launch earlier than expected to end the Disney+ ad-supported tier, which is scheduled to launch sometime at the end of this year.
The services are slated to launch in Australia, the US, Germany and France on November 1. It has reportedly reported that the cheapest tier will be priced at $7.
Crypto bans are not news to the industry
Crypto bans have not been anything new in the industry. Due to consistent regulatory scrutiny, ads related to the crypto industry have been on the decline.
Social platform Facebook, now called Meta, banned crypto ads on the entire platform a few years ago, but that year itself the ban was overruled by Facebook.
The number of global subscribers has declined in successive quarters, and to address that, Netflix mentioned in July that it would launch a new ad-supported service that will boost revenue.
In the second quarter, Netflix reportedly lost 970,000 paid subscribers in the first three months of 2022.
This demonstrated a slowdown in revenue growth, and it was later revealed that the streaming platform had to cut costs and keep margins at 20%.
Alphabet, the Google parent, had also reversed its decision to ban crypto advertising by allowing exchanges and wallet operators to promote their services on the search engine.
Less clarity regarding where the crypto ad ban will be operational
It remains unclear whether the cryptocurrency advertising ban will apply to Australia completely or if other nations will be included in the crypto advertising ban.
Netflix has yet to release information on which nations would be using the ad-supported service which includes the US, UK, Canada, France and also Germany.
This new ad-supported service will be priced at $8, making the subscription more economical than the standard Netflix streaming membership.
Ad viewing is still an option for subscribers who must pay the full fee. Sources also suggest that Netflix may start posting ads in the middle of shows as part of the new arrangement.
Featured image from UnSplash, chart from TradingView.com
