Netflix has said that it will exclude any cryptocurrency advertisements from its upcoming ad-supported streaming service in Australia. This is to ensure that only appropriate material is available for all ages.
Monitored Adverts
The Sydney Morning Herald on Monday cited local sources in reporting that Netflix has chosen to ban political, gambling, and cryptocurrency-related advertising on its new subscription tier.
There will be no adverts for products aimed at youngsters on the new tier either. Other reports from the same sources mentioned the possibility of limiting pharmaceutical advertising.
Furthermore, when Australia’s advertising tier finally goes live, most likely in November, only Australian clients will be allowed to buy spots.
“We are still in the early days of deciding how to launch a lower priced, ad-supported option, and no decisions have been made. This is all just speculation at this point,” the report noted, citing a Netflix Spokesperson.
It is unclear whether the ban on cryptocurrency adverts would be limited to Australia or will affect all countries that utilize the ad-supported site, such as the USA, UK, Canada, France, and Germany.
A Wall Street Journal reported last week that Netflix was contemplating charging marketers a cost per thousand (CPM) of around $65.00 for every 1,000 views. The publication also noted that there are approximately 28 pay-walled or ad-supported streaming services in Australia that compete with Netflix for viewers.
Unskippable ads will appear before and throughout each show. Advertisements like these will reportedly be hidden from the service’s $8 premium customers.
Australian Regulators On High Alert
Guidelines established in Australia in August aim to govern crypto assets and related advertisements so that users are “adequately informed and protected,” although it is not explicitly targeted toward Crypto.
This year also saw the publication of the Australian Prudential Regulation Authority’s (APRA) crypto policy roadmap and initial risk management strategy, which it plans to implement through 2025.
