11:32 AM EDT, 08/06/2024 (MT Newswires) -- Netflix ( NFLX ) is further lowering the prices of its ads, Adweek reported Tuesday, quoting unnamed ad industry sources.

The streaming giant plans to charge advertisers CPMs, or cost per thousand viewers, between $20 to $30 for some of its ad inventory, the report said, adding the company had initially come to the market with a $65 CPM in 2022.

Netflix ( NFLX ) ad rates have been falling in the nearly two years since the company said it would start selling advertising time, Adweek reported.

Adweek said that Netflix ( NFLX ) declined to comment on the record but that the company didn't dispute the accuracy of the pricing changes.

Netflix ( NFLX ) didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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