Netflix Inc. is looking to tweak its programming deals with Hollywood studios to enable the streaming pioneer’s launch of an advertising-supported version of its service, the Wall Street Journal reported
The company has started talks with Warner Bros., Universal and Sony Pictures Television, the report said, citing people familiar with the matter.from Paramount Global, according to the report.
Netflix told Reuters it is still in the early days of deciding how to launch a lower priced, ad-supported option, and added that it is all just speculation at this point.Earlier in June, co-CEO Ted Sarandos said Netflix is in talks with several companies for advertising partnerships. After losing subscribers for the first time in a decade and projecting a 2 million decline in the upcoming quarter, Netflix said in April it was considering the launch of a lower-priced tier with advertising.
Netflix’s most formidable challenger – Walt Disney Co’s Disney+ – has also said it would introduce an ad-supported tier, as the pandemic boom in streaming fades, competition tightens and rising inflation pinches consumer spending on entertainment. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
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