Video streaming platform Netflix has partnered with tech giant Microsoft to offer a cheaper subscription plan to customers that will show advertisements.
According to Netflix, the newly ad-supported service will be an “addition” to its existing plans, which do not include ads.
In a tweet, Microsoft Chairman and CEO Satya Nadella said that they’re “thrilled Netflix has selected Microsoft as its advertising technology and sales partner.”
Nadella also added that they want publishers “to have more long-term viable ad monetization platforms.”
In a statement, Netflix COO Greg Peters said that Microsoft has the “proven ability” to support all their advertising needs as they work together to build a new ad-supported offering.
The streaming giant’s “long-term goal is clear: More choice for consumers and a premium, better-than-linear TV brand experience for advertisers,” added Peters.
This announcement regarding the new ad-supported subscription plan came after Netflix was reported to have dropped in subscribers for the first time in a decade and also less revenue.
Netflix has also begun to invest in video games to ensure that users stick on the platform and is also considering live streaming to address the issue of password sharing.
Netflix ties up with Microsoft to offer cheaper ad-supported plan
Source: News Updates Trends
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