Netflix co-CEO Ted Sarandos confirmed Thursday at Cannes Lions 2022 that the streaming giant is speaking with multiple potential partners to help bring ads to its platform. The confirmation comes after the streaming giant announced in April it plans to offer a cheaper, ad-supported tier, after reporting a loss of 200,000 subscribers in the first quarter, leading to its stock suffering its biggest one-day drop in company history. Netflix also announced this week it is laying off about 300 staffers. Seth Schachner, managing director of Strat Americas, joins Cheddar News' Closing Bell to discuss.