Video-streaming company Netflix plans to filter out some ads, including cryptocurrency advertisements, on its new ad-based streaming service to be launched later this year, Australian media reported.
Video-streaming company Netflix said it will filter out all crypto ads on its new ad-based streaming service due later this year to ensure only family-friendly content goes on the platform
Video-streaming company Netflix plans to filter out some ads, including cryptocurrency advertisements, on its new ad-based streaming service to be launched later this year, Australian media reported.
Australia’s Sunday Morning Herald reported that only the national clients can purchase ad slots for its new streaming service in Australia expected in November.
Additionally, Netflix won’t market products for youngsters or carry political and gambling ads. Citing sources, the report further said that Netflix is also considering restrictions on pharmaceutical ads.
However, the company is still ironing out the details. According to the report, ad-supported tier might cost as little as Rs. 360, while “full-paying” customers can continue to enjoy ad-free Netflix.
Australia announced plans in August to regulate crypto assets and related ads so that users are "adequately informed and protected," though such guidelines do not explicitly prohibit Bitcoin ads.
Netflix said in July that it would collaborate with Microsoft to establish a new advertising tier.
On Tuesday, it announced hiring former Snap executives Jeremi Gorman and Peter Naylor to manage the new advertising team. But it has not revealed yet how much it plans to charge for the service.
Netflix is not the first streaming service to include ads. Platforms like Paramount, which owns Network Ten, and Amazon Prime Video, already use a mixed strategy.
Disney has also hinted at an ad-supported service. Last Month, Disney had overtaken Netflix in number of subscribers. Its three platforms: Disney+, ESPN+, and Hulu had 221.1 million subscribers, compared to Netflix’s 220.6 million subscribers. As the competition build up, companies are looking for ways to increase their subscriber base and revenue.
What Does This Mean For The User?
If Netflix follows the same approach globally, in that case, users can expect a well-thought-out ad structure like the television industry, which censors and filters ad content to protect viewers' interests.
Netflix believes that capitalising on viewers' demand for more family-friendly content could help swell its profits in the long run.