Streaming giant Netflix has reportedly banned cryptocurrency advertising in its ad-supported subscription. This is to be launched in November and thus much earlier than planned.
Citing local sources, the Sydney Morning Herald reported on Monday that Netflix has decided to scrap all ad campaigns related to politics, gambling and cryptocurrencies on its new offering. The new subscription also won't show ads that sell products to children. The source went on to say drug ads could also be restricted.
According to Variety, Netflix has brought forward the launch of its cheaper, ad-supported offering to November to compete with Disney+, which is also launching an ad-supported subscription on December 8. Netflix originally wanted to launch its ad-supported offering in early 2023.
The new Netflix plan will launch on November 1 in multiple countries including the US, Canada, the UK, Germany and France, according to Variety
Netflix decided on this new subscription because the number of subscribers worldwide has been declining for several quarters. In the second quarter, the streaming giant lost 970,000 subscribers. Already in the first 3 months of 2022, the service lost 200,000 users.
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