Netflix in talks with Google and more brands for ad tie-up

(Reuters) – Netflix Inc. is in talks with several companies for advertising partnerships, co-CEO Ted Sarandos said Thursday, as the streaming titan seeks to slow subscriber growth by introducing an affordable plan with ads.

Media reports earlier this week said talks are underway with Alphabet Inc.’s Google and Comcast Corp’s NBCUniversal for a possible marketing tie-up.

“We’re talking to all of them right now,” Sarandos said at the Cannes Lions conference when asked which company Netflix wants to partner with.

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Alphabet and Comcast did not immediately respond to Reuters requests for comment.

After losing subscribers for the first time in a decade and forecasting a drop of 2 million in the upcoming quarter, Netflix said in April that it was seriously considering advertising.

“We’re not adding ads to Netflix as you know today. We’re adding an ad tier for people who say ‘Hey, I want a lower price and I’ll watch the ads’,” Sarandos told Cannes Lions Told.

Netflix’s most formidable challenger – The Walt Disney Co.’s Disney+ – has also said it will introduce an ad-supported tier as the pandemic booms in streaming, competition tightens and rising inflation pinches consumer spending on entertainment. Is.

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