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Netflix to charge an additional $8 month for viewers living outside US subscribers’ households

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Netflix on Tuesday outlined how it intends to crack down on the rampant sharing of account passwords in the U.S., its latest bid to reel in more subscribers to its video streaming service as its growth slows.

To combat password sharing, Netflix said it will limit U.S. viewership of its programming to people living in the same household. Those who subscribe to Netflix’s standard or premium plans — which cost $15.50 to $20 per month — will be able to allow another person living outside their household to use their password for an additional $8 per month, a $2 discount from the company’s basic plan.

Without providing details how it authenticates subscriber identities or accounts, Netflix assured that everyone living in the same household of a U.S. customer will still be able to stream TV series and movies “wherever they are — at home, on the go, on holiday.” The company based in Los Gatos, California has roughly 70 million U.S. accountholders.

The long-anticipated move, telegraphed by Netflix a year ago, seeks to end a practice that the company allowed to go unchecked for years while its streaming service was attracting subscribers in droves. At that time, management had little incentive to risk riling customers by reining in password sharing.

While Netflix looked the other away, an estimated 100 million people worldwide were getting passwords from family and friends to freeload on Netflix TV series such as “The Crown” and films such as “All Quiet On The Western Front.” Those passwords were funneled through Netflix’s 232.5 million worldwide paying subscribers, who generated the bulk of the company’s $32 billion in revenue last year.

But after a year of lackluster subscriber growth that included its largest customer losses in more than a decade, Netflix is putting its foot down.

Before the crackdown on password sharing, Netflix began introducing features, such as the ability to transfer the profiles set up on subscriber accounts to make it easier for people to retain their viewing histories after they are no longer able to watch shows for free.

Netflix’s effort to force more of its viewers to pay for access to its programming follows the launch of a $7 monthly plan that inserted commercials into its service for the first time. Netflix has picked up an additional 9 million worldwide subscribers since the ad-supported option debuted, although not all of those signed up for the low-priced plan.

Although the new U.S. surcharge for viewers living outside subscribers’ households is less than Netflix’s basic streaming plan, it comes at a time that Americans have been paring their discretionary spending because of high inflation. That inflationary squeeze, combined with more competition from other streaming services, is one of the main reasons Netflix has suffered a slowdown in growth.

Netflix co-CEO Greg Peters acknowledged last month that the crackdown on password sharing is likely to trigger an uptick subscriber cancellations, but expressed confidence the company will be better off in the long run after people adjust to the clampdown.

“We see an initial cancel reaction, and then we build out of that both in terms of membership and revenue as borrowers sign-up for their own Netflix accounts,” Peters assured analysts, citing how the crackdown has unfolded in Canada since February.

Netflix’s shares fell 2% Tuesday to close at $355.99. The stock remain up by about 20% so far this year.

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GoDaddy Founder Reveals Untold Story of Traumatic Upbringing, Military Service and Entrepreneurial Journey

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GoDaddy Founder Bob Parsons talks with Florida National News. Photo by J Willie David, III / Florida National News

SCOTTSDALE, Ariz. — Everybody has heard of GoDaddy, but how many people know the real-life story of the highly successful, philanthropic, and colorful man behind the company? For the first time, GoDaddy and PXG founder Bob Parsons, in a highly confessional account, shares the story of his life, from his humble upbringing to his meteoric rise as one of early tech’s pioneers.

Fire in the Hole! The Untold Story of My Traumatic Life and Explosive Success (Forefront Books, May 7, 2024) by Bob Parsons is an unflinching, yet inspirational, account of his path to success, from a hardscrabble childhood to his combat service as a U.S. Marine during the Vietnam War — and beyond.

A descendant of coal miners, Parsons grew up in the 1950s in a blue-collar, working-class neighborhood in East Baltimore. Money was tight, given his parents shared a mutual fondness for gambling and were not particularly good at it. In his book, Parsons talks about the financial struggles his family faced, as well as the emotional neglect he experienced as a boy.

He writes: “We were just getting by when Pop’s business failed … my dad racked up so much debt from gambling and credit cards that everything came tumbling down. In the end, he practically gave the business away. And, when he did, we went from not having much to having nothing. I mean absolutely nothing.”

An admittedly so-so student, he recalls the struggles he faced in learning, as well as the corporal punishment dished out by Catholic school nuns. But his early experiences reveal an innate resiliency that got him through a harrowing tour of duty in Vietnam, his early years at his first company, Parsons Technology, as well as his bold business decisions that would eventually make him one of the wealthiest people in the world. With a net worth of $3.6 billion, Parsons is No. 314 on the Forbes 400 2023 list of the richest people in America.

He’s an everyman who has made it. He’s authentic. And his reflections on life, business, and giving back are heartbreaking, heartwarming, humorous, and inspiring.

In the book, Parsons:

• Shares how he survived his grueling tour of duty in Vietnam with the U.S. Marines infantry.

• Reveals the struggles he has faced throughout his lifetime because of PTSD, as well as the efforts he has made to treat it, including novel therapeutic uses of psychedelics.

• Offers the lessons he has learned during his career, from the launch of his first business, Parsons Technology, to the creation of his present-day business empire, which includes YAM Worldwide and Parsons Xtreme Golf (PXG).

Since 2012, Parsons and his wife, Renee, have donated nearly $300 million to more than 96 charities and organizations worldwide. Having suffered from PTSD, he works to find new and effective treatments for himself and others. He strongly believes in paying it forward. And he is always moving forward, creating new companies, and re-creating himself. Fire in the Hole! encourages readers to dream big and imagine all that’s possible — even if the cards seem stacked against them.

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Business

Orlando Area Residential Real Estate Snapshot for March 2024

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State of the Market

  • Overall sales rose 17.7% from February to March. There were 2,559 sales in March, up from 2,174 sales in February.
  • The median home price for March was recorded at $386,500, up from $377,000 in February. The highest monthly median home price on record in the Orlando area was $387,000 in June 2022.
  • Pending sales increased by 9.4%, with 3,891 in February and 4,257 in March.
  • New listings rose 8.6% from February to March, with 4,124 new homes on the market in March, compared to 3,799 in February.
  • Inventory for March was recorded at 8,971, up 4.4% from February when inventory was recorded at 8,589.
  • March’s interest rate was recorded at 6.7%, up slightly from 6.6% in February.
  • Homes spent an average of 58 days on the market (DOM) in March – up slightly from February.
  • “The busy spring season for the real estate market is in full swing,” said Rose Kemp, Orlando Regional REALTOR® Association President. “We’ve seen a steady increase in sales, median home price and inventory every month this year. Our median home price in March was very close to our peak from June 2022, so it will be interesting to see how these high prices affect the market in the coming months.”

Market Snapshot

  • Interest rates rose from 6.6% in February to 6.7% in March.
  • Pending sales rose 9.4%, with 3,891 in February and 4,257 in March.
  • 23 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in March. That represents an 8.0% decrease from February when 25 distressed homes sold.

Inventory

  • Orlando area inventory increased 4.4% from February to March. Inventory in February was 8,589, and inventory in March was 8,971.
  • The supply of homes fell to 3.51 months in March, down 11.3% from 3.95 months in February. A balanced market is six months of supply.
  • The number of new listings increased from February to March by 8.6% – from 3,799 homes to 4,124 homes.

ORRA’s full State of the Market Report for March can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

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Mobil 1 Marks 50th Anniversary with Celebratory Racing Liveries Throughout 2024 Motorsports Season

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SPRING, Texas–(BUSINESS WIRE)–To celebrate the 50th anniversary of Mobil 1™ motor oil, this year the brand will showcase more than 40 iconic, specially-designed liveries and paint schemes on the track throughout the 2024 motorsports season.

These liveries – which will be seen within IMSA, WEC, Formula 1, NASCAR, NHRA, MotoGP and more – use distinct design elements, including anniversary gold, both signifying 50 years of the Mobil 1 brand and embodying the dynamic relationships between Mobil 1 and its collaborators. Each paint scheme reflects the spirit of the Mobil 1 brand and an ongoing commitment to growing and maintaining meaningful track-to-road relationships, which is at the heart and soul of the brand.

Mobil 1 motor oils have long been the choice for preeminent race teams competing in the most demanding and popular motorsports series around the globe. Today, Mobil 1 synthetic motor oil continues to be relied upon for its ability to deliver exceptional engine performance and protection under some of the most extreme conditions. Automotive technicians, race car drivers, team owners, and some of the world’s leading automotive manufacturers can speak to the advanced technology of Mobil 1 lubricants.

“We are thrilled to bring these special paint schemes to life for such a historic anniversary of the Mobil 1 brand,” said Robert Shearer, Director of Global Sponsorships on behalf of Mobil 1. “These liveries exemplify our collaborations in lubricant innovation in the world of motorsports. Together, we’ve crafted livery designs that not only pay homage to the 50-year legacy of the Mobil 1 brand, but also capture the essence of speed, performance and teamwork. We can’t wait for fans to join us in the love of racing and witness the culmination of our collaborative efforts on the racetrack throughout the rest of the year.”

At Mobil 1 Twelve Hours of Sebring Presented by Cadillac, golden liveries will hit the track for teams and OEMs, including Vasser Sullivan Racing (Lexus Racing), Cadillac Racing, Corvette Racing by Pratt Miller Motorsports, Kellymoss with Riley (Porsche Motorsport North America), and Porsche Penske Motorsport.

With more added throughout the season, initial 50th anniversary liveries and iconography will be seen at the following upcoming race series on sponsored teams:

  • Oracle Red Bull Racing (Formula 1)
  • Stewart-Haas Racing (NASCAR Cup Series)
  • 23XI Racing (NASCAR Cup Series)
  • Tony Stewart Racing (NHRA)
  • Red Bull KTM (MotoGP)
  • Porsche Penske Motorsport (WEC and IMSA)
  • TAG Heuer Porsche Formula E Team (Formula E)
  • Mobil 1 Porsche SuperCup
  • At the Pikes Peak International Hill Climb with BBI Autosport

In continuing to commemorate the 50th anniversary, fans should also look for a short film featuring former Formula 1 racer & Oracle Red Bull Racing ambassador, David Coulthard, who guides the audience through the Mobil 1 brand’s evolution, collaborations, and achievements. The video is available for viewing here.

Additional initiatives across partnerships, motorsports, and events will be shared through the year as the brand continues to celebrate its legacy and what’s next. For coverage of Mobil 1 Twelve Hours of Sebring Presented by Cadillac as well as upcoming gold liveries and paint schemes, visit @mobil1racing on Instagram and X all year-long.

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