Netflix plans to filter out certain ads, including cryptocurrency ads, on their new ad-based streaming service to launch later this year, Australian media reported.
Australia’s Sunday Morning Herald has reported that only domestic customers will be able to purchase ad slots for the new Australian streaming service that will launch in November.
Additionally, Netflix will not market the ads for youth and will not broadcast political or gambling advertisements. Citing sources, the report adds that Netflix is also looking at restrictions on pharmaceutical ads.
Australia announced in August its intention to regulate crypto assets and related advertising so that users are “well informed and protected”, although these guidelines do not prohibit Bitcoin advertising.
Netflix announced in July that it would be working with Microsoft to set a new level of advertising.
On Tuesday, it announced the hiring of former Snap executives Jeremi Gorman and Peter Naylor to manage the new ad team. But has yet to reveal how much to charge for the service.
How does this impact users?
Netflix isn’t the first streaming service to include ads. Platforms like Paramount, which owns Network Ten and Amazon Prime Video, are using a mixed strategy.
It is not yet clear whether the crypto advertising ban will fully apply to Australia or if other countries will be included in the crypto advertising ban. Netflix has not yet released information on which countries will use the ad-supported service, including the US, UK, Canada, France, and even Germany.
This new ad-supported service will cost $8, making it more economical than a standard Netflix streaming subscription.
Viewing ads is still an option for subscribers who will have to pay the full fee. Sources also suggest that Netflix may start putting ads in between shows under the new plan.
If Netflix follows the same approach globally, users can expect an advertising structure as thoughtful as the television industry, where advertising content is censored and filtered to protect viewers’ interests.
Netflix believes tapping into viewers’ need for more family-friendly content can help boost their long-term income.