Netflix said it had Microsoft Corp.selected as technology and distribution partner for its ad-supported subscription plan.This is because the streaming platform is trying to spur slow subscriber growth by rolling out a cheaper plan.Netflix said in April it would launch a new, lower-cost version of its service to attract more customers.The announcement came after the earlier plan suffered losses after a long period of time, with the company’s subscriber base falling significantly.After that, the company reckoned with the upcoming huge loss and turned to this plan.Greg Peters, chief operating officer, said in a blog post that Netflix chose Microsoft for its ability to innovate and strong privacy protections.This revenue was generated by selling ads on various services such as the Bing search engine and its business-focused social network, LinkedIn.Last month, Microsoft a AT&T’s online advertising platform, Xandr Inc., also generated decent revenue.Let us tell you, Xandr enables advertisers to buy ad space on thousands of websites and audiences.For information, let us tell you that Microsoft President Brad Smith has served on the board of Netflix since 2015.The partnership was announced Tuesday ahead of Netflix’s second-quarter earnings report. The company warned investors that despite the return of popular shows like ‘Stranger Things’ that broke viewership records, we could still lose 2 million customers over this period. Netflix has partnered with several of its competitors to make this plan a reality, including The Walt Disney Company’s Hulu, NBC Universal’s Peacock, and Warner Bros.Discovery’s HBO Max.
