June 5, 2023


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Netflix in talks for advertising tie-ups

Smartphone with Netflix emblem is positioned on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/File Photograph/File Picture

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June 23 (Reuters) – Netflix Inc (NFLX.O) is in talks with several organizations for advertising and marketing partnerships, co-CEO Ted Sarandos reported on Thursday, as the streaming titan appears to be to plug slowing subscriber advancement by rolling out a less costly program with ads.

Media stories from before this 7 days stated it was in discussions with Alphabet Inc’s (GOOGL.O) Google and Comcast Corp’s (CMCSA.O) NBCUniversal for probable internet marketing tie-ups.

“We are talking to all of them appropriate now,” Sarandos mentioned at the Cannes Lions meeting when requested which company Netflix was hunting to associate with.

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Alphabet and Comcast did not instantly reply to Reuters requests for remark.

Following losing subscribers for the initial time in a 10 years and projecting a 2 million decline in the future quarter, Netflix stated in April that it was significantly on the lookout at promotion.

“We are not introducing ads to Netflix as you know it right now. We are introducing an ad tier for people who say ‘hey, I want a lower price and I will check out ads’,” Sarandos said at Cannes Lions.

Netflix’s most formidable challenger – Walt Disney Co’s (DIS.N) Disney+ – has also stated it would introduce an advertisement-supported tier, as the pandemic boom in streaming fades, competition tightens and soaring inflation pinches client shelling out on entertainment.

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Reporting by Eva Mathews in Bengaluru Editing by Devika Syamnath

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