Microsoft will be Netflix’s global advertising technology and sales partner to support all its advertising needs as, “we work together to build a new ad-supported offering (sic),” said Greg Peters, COO and Chief Product Officer, Netflix.
In April, the streaming platform announced introducing a new lower-priced ad-supported subscription plan for consumers in addition to the existing ads-free basic, standard and premium plans. It is currently facing slow growth and has recently trimmed its workforce.
Mikhail Parakhin, President of Web Experiences at Microsoft, said late on Wednesday that consumers will have more options to access Netflix’s award-winning content at the launch.
“Marketers looking to Microsoft for their advertising needs will have access to the Netflix audience and premium connected TV inventory. All ads served on Netflix will be exclusively available through the Microsoft platform,” he informed.
Peters said these are early days, “but our long-term goal is clear: More choice for consumers and a premium, better-than-linear TV brand experience for advertisers (sic).”
Netflix saw its stock tumbling by 20 per cent after it reported a loss of 2 lakh paid subscribers in the first quarter of 2022 — its first subscriber loss in over a decade.
Moreover, Netflix forecast a global paid subscriber loss of 20 lakh for the second quarter (Q2).