Netflix reworks Microsoft pact, lowers ad prices

Netflix is restructuring its advertising partnership with Microsoft and lowering ad prices, the Wall Street Journal reported on Thursday.

Netflix has had early discussions to sell ads through other partners in addition to Microsoft, WSJ said, citing people familiar with the matter.

The streaming company selected Microsoft last year to provide technology and sell ads on its behalf, in part because Microsoft offered to pay a "revenue guarantee," pledging to deliver a large amount of money to Netflix, the report said.

Netflix is also reworking its agreement with Microsoft to reduce the revenue guarantee and those terms are still being settled, the report added.

Microsoft and Netflix did not immediately respond to a Reuters' request for comment.