The company announced on Wednesday that Netflix has partnered with Microsoft to launch its new ad-supported streaming service. 

After the streaming service launches the lower-cost option, Microsoft will be its "global sales and advertising technology partner".

The post by Greg Peters, Netflix COO, states that it is still early days and there are many things to do. But our long-term goal is clear. 

Consumers have more choices, and advertisers have a better, more linear TV brand experience. As we bring this service to life, we are excited to partner with Microsoft.

Microsoft posted a blog post stating that marketers will collaborate with Microsoft to provide ads for the Netflix ecosystem. 

Mikhail Parakhin (Microsoft's president of web experience) said that today's announcement endorses Microsoft's privacy approach, which is built around protecting customers' data. 

Microsoft is also looking at introducing ads to free-to-play Xbox games, besides Netflix.

In May, Netflix suggested a lower-cost, ad-supported tier and confirmed it last month. 

Netflix has not yet announced a date for its rollout, but it is rumoured that the Tier will be available to customers by 2022. 

Netflix's new ad-supported Tier was announced after Netflix revealed that its subscribers dropped for the first quarter in a decade. The company reached 222 million worldwide. 

To mitigate the decline in revenue and subscribers, Netflix is exploring live streaming options and ways to crack down on password sharing.

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