Netflix Exploring Gambling And Crypto Ads Ban Ahead Of New Subscription Tier Rollout In Australia

Netflix Exploring Gambling And Crypto Ads Ban Ahead Of New Subscription Tier Rollout In Australia

As Netflix prepares to launch a new, cheaper subscription tier in Australia that will include commercials, the streaming giant is considering imposing a ban on crypto and gambling platforms from advertising on its platform.

The new model is expected to roll out before the end of the year. A Netflix spokesperson told the Sydney Morning Herald that the company is “still deciding on how to launch,” as they are still in the early days of the roadmap.

Local sources said the advertising tier is expected to launch in Australia as early as November, and slots will be available to national clients only. The streaming giant has also decided to reject political, gambling and cryptocurrency advertising and will not market any products to children, Morning Herald adds.

According to The Wall Street Journal, Netflix is considering charging advertisers a cost per thousand of about $65 for every 1,000 viewers. In Australia, there are roughly 28 pay-walled or advertising-supported streaming services that compete for viewers with Netflix.

Unskippable advertisements would air before the beginning of each program and might also run during it. However, they will not be visible to its $8 premier subscribers.

After Meta Platforms, owner of Facebook, was sued earlier this year by the Australian Competition and Consumer Commission for engaging in “false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures,” the Australian Securities and Investments Commission has tightened its grip on crypto influencers.

The Australian Prudential Regulation Authority published its crypto policy roadmap and initial risk management strategy this year, which it would incorporate through 2025.

Last month, along with the announcement of a “token mapping” exercise to oversee the market, the Australian government also started to make new attempts to regulate the crypto industry. According to the Australian Financial Review, the Australian Federal Police has also established a special squad to combat crypto-related crimes around money laundering and other illegal activities.