According to a news report, well-known streaming service Netflix has banned advertisements related to cryptocurrency on its ad-supported subscription tier, which is planned to go live in November months ahead of schedule.
Netflix has opted to turn down any politics, gambling, crypto, and kids-targeted advertising on its new subscription tier. The source also claimed that limitations on pharmaceutical ads were in consideration.
Netflix has reportedly moved the schedule earlier than planned for the introduction of the less expensive ad-supported tier to November in order to compete with another streaming service Disney+, which will debut its own ad-based plan on December 8.
At first, Netflix was planning to release the tier at the beginning of 2023.
Netflix will launch the new subscription tier in several countries, including United States, Canada, United Kingdom, Germany and France, on November 1.
The streaming company stated in July it would release a new ad-supported service in an effort to boost revenues after the number of subscribers worldwide declined steadily in quarters.
As crypto is still under regulatory scrutiny, crypto bans can occur in the digital asset industry every now and then. The social media giant Meta, formerly Facebook, banned crypto advertisements in 2018 before lifting the ban later in the year. Exchange and wallet operators were once again able to promote their services on the search engine in 2021 after Google-parent company Alphabet rescind the ban on advertisements related to crypto.
