July 13 (Reuters) – Netflix Inc NFLX.O said on Wednesday it has chosen Microsoft Corp as innovation and deals accomplice for its arranged promotion upheld membership offering, as the streaming monster hopes to plug easing back endorser development by carrying out a less expensive arrangement.

Portions of Netflix rose 2% to $178.06 on the news.

Netflix reported in April that it would present a new, lower-estimated variant of its administration in a bid to draw in additional supporters. The declaration came as the spearheading membership administration posted its most memorable endorser misfortune in over 10 years, and extended further misfortunes to come.

Head Operating Officer Greg Peters said in a blog entry that Netflix picked Microsoft due to its capacity to develop after some time, as well as its for its solid security insurances.

“It’s initial days and we have a lot to manage. In any case, our drawn out objective is clear. More decision for customers and a top notch, better-than-straight TV brand insight for publicists,” Peters said.

Microsoft President Brad Smith has served on Netflix’s board starting around 2015.