Ted Sarandos talks about the future of Netflix at Cannes Lions – The Hollywood Reporter

It’s official: Advertising is coming to Netflix.

Netflix co-CEO Ted Salandos spoke at the Cannes Lions Advertising Festival on Thursday, confirming that the future of streaming giants will include advertising and explaining his face. The company said it lost 200,000 subscribers in the previous quarter and announced that it would introduce a cheaper ad support layer to its service to attract new customers.

“We’ve taken a big customer segment off the table, people who say,’Hey, Netflix is ​​too expensive for me and I don’t care about advertising,'” Salandos said on Thursday at the Cannes Lions stage. ..When Shake Kara Swisher, the host of the podcast, said: View the ad. “”

Netflix’s presence at Cannes Lions (which is the first time Streamer has joined the global advertising confab) clearly shows that the company is embracing the advertising industry. Salands has confirmed that the company is in talks with a potential advertising sales partner. Salands This year, we are awarded the Cannes Lions Entertainment Person of the Year.

It’s still unclear if the new ad layer will prove a solution to Netflix’s growth problem. With the company’s share price declining, there is growing speculation that streamers could be the target of acquisitions.

Salandos admitted that the acquisition “is always a reality, so we have to keep an eye on it,” but Netflix argued that it could return to growth on its own. Business, “he said.

Netflix executives have dismissed the company’s recent decline in stock prices as part of the inevitable ups and downs. This is a pretty young business of online streaming.

“We have a market [our] It’s a core business, and you need to prove that your dissertation still works and works in the long run. There is a lot of uncertainty in today’s world, and getting something that shakes the foundation of the story makes me nervous. “

Salandos pointed out that streaming is still “about 10% of what people do on TV,” and argued that Netflix still has “a lot of room for growth.”

Salands once again defended his stance in support of the controversial Netflix comedy special by Dave Chappelle and Ricky Gervais.I’ve always been an art supporter. “And the service “Programming for people with a wide variety of tastes and sensibilities”. Keep in mind that what is considered offensive varies from person to person.

“It doesn’t make everyone happy, but it’s an on-demand beauty. You can turn it off. The reason comedy is difficult is because everyone doesn’t laugh at the same thing. Everyone cries for the same thing, so the drama is a little easier. You can pull it out, but when it comes to comedy, everything is very different, “he said. Sometimes by crossing it. Supporting expression is really important. “

But when Salandus revealed that he was angry with some of the content on the platform, he admitted that he “should have been more sympathetic” to some of Netflix’s own staff. “That’s what I regret, but the decision was very important. Globally,” he said.

He also defended Netflix’s record of LGBTQ + content, saying, “There are people from all over the world who are very angry with LGBTQ Plus content and want to remove it, which is very harmful. I think. They think it’s destroying society. We’re just fighting for it, we’re fighting all the way to the Supreme Court. We’ve never beat them anywhere in the world. “

The 2022 Cannes Lions will be held until Friday, June 24th.

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