Streaming giant Netflix chose to ban crypto-related advertisements on its ad-supported subscription tier, which is set to launch later this year on November 1, 2022.
The Sydney Morning Herald cited local media sources that Netflix has begun talking to Australian local advertisers. It is banning advertising campaigns related to “politics, gambling, and cryptocurrency” on its new subscription tier.
A Netflix spokesperson noted “We are still in the early days of deciding how to launch a lower priced, ad-supported option and no decisions have been made. This is all just speculation at this point.”
It’s unknown whether the prohibition on cryptocurrency advertisements will solely apply to Australia or to all nations that use the ad-supported service, including the United States, the United Kingdom, Canada, France, and Germany.
The new ad-supported service is predicted to cost around $8, making it less expensive than a standard Netflix streaming membership.
Ad viewing is optional for subscribers who pay the full fee. According to sources, Netflix is also thinking about putting advertisements in the middle of shows as part of the new service.
If Netflix moves forward with the ban, it will join a number of other juggernauts in opposing crypto marketing. Although both Google and Meta outlaw cryptocurrency marketing in 2018. However, they softened their rules in June and December of 2021, respectively.