Netflix in talks for ad tie-ups

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Netflix Inc is in talks with several companies for ad partnerships, co-CEO Ted Sarandos said Thursday, as the streaming titan seeks to slow subscriber growth by rolling out a cheaper plan with ads.

Media earlier this week reported that he was in talks with Alphabet Inc’s Google and Comcast Corp’s NBCUniversal over possible marketing tie-ups.

“We’re talking to all of them right now,” Sarandos said at the Cannes Lions conference when asked which company Netflix was looking to partner with.

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Alphabet and Comcast did not immediately respond to Reuters requests for comment.

After losing subscribers for the first time in a decade and projecting a drop of 2 million in the next quarter, Netflix said in April it was seriously considering advertising.

“We’re not adding ads to Netflix like you know today. We’re adding a level of advertising for people who say ‘hey, I want a lower price and I’ll watch ads,'” Sarandos told Cannes. Leos.

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Netflix’s most formidable challenger – Walt Disney Co’s Disney+ – has also said it will introduce an ad-supported tier, as the pandemic streaming boom wanes, competition tightens and rising inflation pinches consumer spending on entertainment.

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