Microsoft is now the official partner of Netflix for advertising technology. The former said in a blog post that it will help Netflix run its first ad-supported service around the world. All ads served on Netflix will only be available through the Microsoft platform.
Both companies are still believed to be working out the details of how to introduce a cost-effective service with ads.
This action was taken as a result of Netflix losing customers in the first quarter of 2022 for the first time in ten years.
Additionally, the streaming service forecasted a further 2 million subscriber drop in the second quarter of 2022. Because of this, the company had to let go of 300 employees.
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