Netflix Cuts Ad Prices, Restructures Partnership With Microsoft: Report

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Cuts Ad Prices, Restructures Partnership With

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: Report

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is restructuring its advertising partnership with

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for its lower-priced ad-supported subscription plan and is also cutting ad prices, the Wall Street Journal reported on Thursday.

The streaming company launched the $7(roughly Rs. 560)-per-month plan with commercials last year in 12 markets, including the US, to attract more customers and selected

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as its technology and sales partner for the offering, partly because it offered to pay a revenue guarantee, the report said.

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is now reworking the agreement to reduce the revenue guarantee due to slowing growth of the ad tier, the report said, adding that company executives are frustrated that

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has not sold more ad inventory.

In addition,

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has held early discussions to sell ads through other partners apart from

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, and has also offered them better deals, the report said.

Some advertisers have agreed to pay

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roughly $39 (roughly Rs. 3,100) to $45 (roughly Rs. 3,600) per 1,000 viewers in recent deals, according to ad buyers, down from around $45 to $55 (roughly Rs. 4,500), WSJ said.

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and

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did not immediately respond to Reuters’ request for comment.

Last week, the video-streaming company reported a lackluster revenue rise which sparked concerns of a longer road to growth from its new initiatives, with co-CEO Greg Peters cautioning it would take “several quarters” to see returns from those efforts.

© Thomson Reuters 2023

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#Cuts #Prices #Restructures #Partnership #

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