Netflix Bans Crypto Ads from Appearing on Subscriptions With Ads, November 2022

Netflix bans crypto advertising. (photo: doc. pixabay)

JAKARTA - World streaming giant Netflix has reportedly banned cryptocurrency-related ads on ad-supported subscription accounts. The new subscription program itself is scheduled to launch in November, ahead of the original schedule.

The Sydney Morning Herald reported on Monday, September 5 that Netflix has decided to reject all advertising campaigns related to politics, gambling and cryptocurrency on its new subscription tier.

The new program will also not run ads selling products to children. The same sources indicate that pharmaceutical advertising restrictions are also being considered.

According to Variety, Netflix has increased its timeline for launching its cheaper ad-supported subscription program through November to compete with Disney+, which is launching its own ad-based plan on December 8, 2021. Initially, Netflix planned to roll out its ad support in early 2023.

Netflix's new subscription program will premiere on November 1 in several countries, including the United States, Canada, United Kingdom, Germany and France.

With global subscribers dropping in successive quarters, Netflix announced in July that it would be launching a new ad-supported service to increase revenue.

In the second quarter, the streaming giant lost 970.000 paid subscribers after losing 200.000 in the first three months of 2022. They are also faced with slowing revenue growth. Netflix revealed in June that it would cut costs to keep its margins at 20%.

Due to regulatory scrutiny, crypto bans are nothing new to the digital asset industry. In 2018, social media giant Meta (formerly Facebook) also banned crypto ads across its platforms before re-enabling them at the end of last year.

In 2021, Google, a subsidiary of Alphabet, overturned a ban on crypto-related advertising, allowing exchange and digital wallet operators to re-promote their services on search engines.