Ads are coming to Netflix, and $NFLX is huddling with potential business partners to make it happen.
Netflix Inc. co-Chief Executive Ted Sarandos made it official Thursday: Ads are coming to the streaming service, and the company is huddling with potential business partners to make it happen.
Sarandos made his comments a day after a Wall Street Journal report that Alphabet Inc.’s Google GOOGL, -0.71% GOOG, -0.73% and Comcast Corp.’s CMCSA, -0.94% NBCUniversal are top contenders to partner with Netflix NFLX, -0.16% to create an ad-supported tier of its service. In April, the streamer broached the idea of a cheaper ad-supported tier to customers after announcing a loss of 200,000 subscribers in its fiscal first quarter, and a massive drop in its stock price.
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