- In Australia, Netflix has about 28 pay-walled or advertising-based streaming services competitors for viewers.
- Crypto platforms are refraining from mainstream advertising events.
- The Australian government has regulated the cryptocurrency industry and announced a token mapping exercise to manage the market.
Netflix is desperate to boost its revenue and overcome the slow growth. To hit the goal, the streaming giant is all set to launch a new model before 2022 ends. As of now, the company is planning the launch.
According to a spokesman of Netflix, they are in the initial days of planning how to launch less price and an ad-supported feature.
Based on local sources, the advertising tier will launch in Australia probably by November, allowing only national clients to buy slots. Netflix has chosen to give up product marketing and has refrained from cryptocurrency advertising besides gambling and political ads. Furthermore, they are planning to restrict pharmaceutical ads as well.
Last week,The Wall Street Journal reported that the company was looking forward to charging advertisers a cost per thousand of nearly $65 for 1,000 viewers.
Unskippable ads are featured before a program begins and may also appear in the middle of it. However, the ads won’t bother the $8 premier subscribers.
Earlier this year, the Australian Competition and Consumer Commission sued Meta Platforms, Inc. on the grounds of incorrect and misleading conduct via publishing scam ads that featured popular Australian public figures. After that the Australian Securities and Investments Commission also turned strict towards crypto influencers or ‘finfluencers.’
The Australian Prudential Regulation Authority published both a crypto policy roadmap and a risk management strategy, which will begin through 2025. Moreover, the Australian Securities and Investments Commission served as a hurdle to CBA’s banking app pilot that had crypto assets.
The Australian Federal Police has also made a squad to reduce crimes related to cryptocurrency such as money laundering and various other illegal activities.