New Delhi (TIP)- Netflix and Microsoft have announced a partnership to launch the streaming giant’s first ad-supported subscription. The development comes months after Netflix announced a new ad-supported offering amid the company’s shrinking subscriber base. Both companies shared the latest news in separate blogs, though it still remains unclear when the new ad-supported model will roll out. Details of the subscription are also yet to be revealed. Microsoft says the company is “thrilled” to be named Netflix’s technology and sales partner. Marketers looking to Microsoft for their advertising needs will have access to the Netflix audience and connected TV inventory. All ads served on Netflix will be exclusively available through the Microsoft platform. Netflix claims that its existing ads-free basic, standard and premium plans will continue to be available to new and old customers. Speaking more about the partnership, Netflix COO Greg Peters said, “It’s very early days, and we have much to work through. But our long-term goal is clear: More choice for consumers and a premium, better-than-linear TV brand experience for advertisers.”.

Earlier this month, Reuters reported Netflix started talks with Warner Bros, Universal, and Sony Pictures Television to introduce the ad-supported subscription model. It may mean that the new model may not cover its entire catalogue, but only select titles from its in-house production unit and big Hollywood studios. However, it is just speculation, and more details are awaited.

Netflix had said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers. The company is facing formidable competition from Disney and Amazon amid a weakening economy, the Russia-Ukraine war where it lost 700,000 members, and high subscription prices.  Source: India Today