American streaming website and production company Netflix is considering collaborating with several companies to advertise on its platform. According to some media reports, Netflix is discussing ad collaborations with Alphabet Inc’s Google and Comcast Corp’s NBCUniversal.
The video ad section of Comcast’s Freewheel will assist Netflix with tech tools to run advertisements. According to some reports, the sales team of NBCUniversal can aid Netflix with trading ads in America and Europe.
Google is already in association with Netflix as a supplier of advertisement buying devices. Google can pursue another unique pact with Netflix.
Netflix has lost subscribers for the first time. After losing subscribers, Netflix announced that it is considering placing advertisements on its website and applications. Netflix is discussing advertising and marketing collaborations with many companies. Netflix is trying to solve the problem of slow subscription growth.
As per reports, Netflix faced a loss of 200000 paid subscribers in the first half of 2022. The company also predicted a debt of approximately 2 million subscribers in the second half of 2022.
Netflix stated that the advertisements on its platform wouldn’t be like traditional television ads. The ads would be unified and less interruptive.
Due to subscriber loss, Netflix stated that it had to fire as many as 300 employees. In the second phase of job cuts in 2022, Netflix also had to lay off around 4 % of its overall workforce.
The chief executive officer of Netflix Ted Sarandos stated that Netflix is not running advertisements today.
They are adding advertisement categories for subscribers who want to binge-watch television series and films but at a lower cost. Netflix stated that those customers can view ads.
The daunting contender of Netflix Walt Disney Company’s Disney+ has stated that it will also propose an ad category.
They further stated that because of the after-effects of the pandemic, growing competition and economic expansion, and consumers investing heavily in entertainment.
In April, Netflix stated that the Russia-Ukraine War and cutthroat competition from other video streaming platforms are some reasons for subscriber loss.
Some reports stated that Netflix can introduce a low-cost ad assistance subscription plan before 2022 ends.
By collaborating and partnering with Google and Comcast Corp NBCUniversal, Netflix is considering bringing cheaper subscription plans with advertisements for its users.
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