✔️ 2022-06-24 23:10:49 – Paris/France.
Netflix Co-CEO Ted Sarandosconfirmed that the company was opening up the possibility of a service with ads, but at a lower cost, said during the Cannes Lions International Festival of Creativitywhich rewards the best in advertising each year.
He explained that the change in attitude of Netflix has long been averse to advertising on its subscription service, but after the numbers from its latest quarter, in which lost over 200 subscribersthe company has agreed to introduce a level of ads Cheaper on your service in order to attract new customers.
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“We left a large segment of customers off the table, which are the people who say: 'Hey, Netflix is too expensive for me and I don't care about advertising. Sarandos said Thursday, speaking on stage at the Cannes Lions with Sway, podcast host Kara Swisher.
“We added a level of ads; we do not add ads to Netflix as you know today. We're adding a level of ads for people who say, 'Hey, I want a lower price and I'm going to watch the ads,'” he added.
This is the first time the co-CEO has attended the major festival's global advertising conference.so the presence of Netflix is a sign that it is looking to embrace this industry.
Sarandos has confirmed that the company is in talks with potential business partners and will also be honored in 2022 with the Cannes Lions Entertainment Person of the Year award.
Whether a new level of advertising will be the solution to Netflix's growth woes remains to be seen. As the company's share price plummeted, there was growing speculation that the streamer could be the target of a takeover.
“We have plenty of scale, profitability and free cash flow to continue to grow this business”he pointed.
Originally published in The Sun of Leon
SOURCE: Reviews News
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