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HomeEntertainmentNetflix bans crypto advertisements on its new ad-support service

Netflix bans crypto advertisements on its new ad-support service

On September 5, as per the media report, Netflix, an online video streaming platform, banned all advertising campaigns related to cryptocurrency, gambling, and politics on its new ad-supported membership level, which is scheduled to launch in November.

Moreover, the new tier will not show advertisements related to selling children’s products. Similar sources demonstrated that limitations on drug advertisements were additionally being considered.

As per Variety, Netflix has moved the date of its less expensive ad-supported tier to November to compete with Disney+, which is also launching its own advertisement-related plan on December 8. At first, Netflix intended to launch its advertisement-supported service toward the beginning of 2023.

Variety said that the new membership plan for Netflix will go live on November 1 in many nations, like the United States, Canada, the United Kingdom, Germany, and France.

With worldwide members declining in back-to-back quarters, Netflix declared it would launch another advertisement-supported service to boost incomes in July. 

Moreover, after losing 200,000 subscribers in the initial three months of 2022, Netflix lost 970,000 paid subscribers in the second quarter. Confronted with slow income development, Netflix announced in June that it would reduce expenses to keep its margins at 20%.

Because of administrative inspection, crypto bans are the same old thing for the crypto industry. In 2018, virtual entertainment platform Meta (previously Facebook) restricted crypto promotions across its platform prior to reestablishing them later in the year.

In 2021, Google-parent Alphabet reversed a restriction on crypto-related commercials, permitting exchanges and wallet administrators to again advance their offerings on the web crawler.

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