Netflix Inc is in talks with a number of firms for promoting partnerships, co-CEO Ted Sarandos mentioned on Thursday, because the streaming titan seems to plug slowing subscriber progress by rolling out a less expensive plan with adverts.
Media reviews from earlier this week mentioned it was in discussions with Alphabet Inc’s Google and Comcast Corp’s NBCUniversal for potential advertising tie-ups.
“We’re talking to all of them right now,” Sarandos mentioned on the Cannes Lions convention when requested which firm Netflix was seeking to associate with.
Alphabet and Comcast didn’t instantly reply to Reuters requests for remark.
After shedding subscribers for the primary time in a decade and projecting a two million decline within the upcoming quarter, Netflix mentioned in April that it was severely promoting.
“We’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say ‘hey, I want a lower price and I’ll watch ads’,” Sarandos mentioned at Cannes Lions.
Netflix’s most formidable challenger – Walt Disney Co’s Disney+ – has additionally mentioned it might introduce an ad-supported tier, because the pandemic increase in streaming fades, competitors tightens and rising inflation pinches client spending on leisure.
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Source: www.financialexpress.com”