Microsoft to be Netflix's global advertising technology and sales partner

New Delhi:  Hit by a dwindling user base, streaming giant Netflix has partnered with Satya Nadella-run Microsoft for its new ad-supported subscription plan for its over 221 million subscribers. Microsoft will be Netflix's global advertising technology and sales partner to support all its advertising needs as "we work together to build a new ad-supported offering," said Greg Peters, COO, and Chief Product Officer, Netflix.

In April, the streaming platform announced to the introduction of a new lower-priced ad-supported subscription plan for consumers, in addition to the existing ads-free basic, standard, and premium plans, as it faces slow growth and recently trimmed its workforce. (Also Read: Netflix’s 'Squid Game' becomes first non-English show to earn Emmy nomination)

Mikhail Parakhin, President of Web Experiences at Microsoft said late on Wednesday that at launch, consumers will have more options to access Netflix's award-winning content. "Marketers looking to Microsoft for their advertising needs will have access to the Netflix audience and premium connected TV inventory. (Also Read: Microsoft first Big Tech firm to cutback workers amid global meltdown)

All ads served on Netflix will be exclusively available through the Microsoft platform," he informed. Peters said that these are early days "but our long-term goal is clear: More choice for consumers and a premium, better-than-linear TV brand experience for advertisers". Netflix saw its stock tumbling by 20 percent after it reported a loss of 2 lakh paid subscribers in the first quarter of 2022 -- its first subscriber loss in over a decade. Moreover, Netflix forecast a global paid subscriber loss of 20 lakh for the second quarter.