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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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FNN News names Janira Garcia its new Director of Corporate Partnerships, Sales and Marketing

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Associate editor of FNN News en Español Janira Garcia named FNN News' Director of Corporate Partnerships, Sales and Marketing on International Women's Day, March 8, 2024. File photo by Florida National News.

ORLANDO, Fla. (FNN) – Florida National News announced today the appointment of Janira Garcia as its new Director of Corporate Partnerships, Advertising Sales and Marketing.

Most recently, Garcia served as an associate editor of FNN News en Español, a sister news outlet of Florida National News. Her experience in news coverage and business development in Spanish will be key factors as FNN continue to expand.

“It’s an exciting time to be part of FNN, an innovative news outlet for a global audience,” Garcia said. “I believe my experience and expertise will allow me to build on the success FNN has already achieved in the last 10 years and will give me the opportunity to strengthen and expand our partnerships.”

“Janira is a proven leader with a rich and diverse background in our industry, and her strategic operations mindset will be vital in shaping the future of our company’s growth and success,” said J. Willie David, III, FNN’s president and CEO of Florida National News and FNN News Network.

In this role, she oversees Ad Sales efforts across the company’s Portfolio of brands and platforms, which includes Florida National News, FNN News Network, FNN Sports Network, FNN News en Español, FNN Politics & Power, FNN News TV, FNN News Media, FNN News and FNN Brand Partnerships. Garcia will report to Jenny Rosario, vice president of Florida National News and FNN News Network.

“We have a tremendous opportunity to accelerate our company growth through strategic partnerships and we’re excited to have Janira join our leadership team,” said Jenny Rosario, vice president of Florida National News and FNN News Network.

To learn more about Florida National News, visit FloridaNationalNews.com.

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March 7 Luxury Auction® Set for Caribbean Waterfront Estate on Grand Cayman

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WEST BAY, Grand Cayman–(BUSINESS WIRE)–Luxury real estate auction house Platinum Luxury Auctions has announced another offering on the Caribbean island of Grand Cayman, Cayman Islands. On March 7, 2024, a waterfront residence once asking $12 million will now be sold to the highest bidder in a live, luxury auction® without reserve. In October 2022, Platinum auctioned an oceanfront home in Grand Cayman’s Savannah neighborhood for approx. $4.7 million. The firm is conducting the March 7th sale in partnership with Antonette Baptist of principal brokerage Provenance Properties Cayman Islands, the exclusive affiliate of Christie’s International Real Estate in the Cayman Islands.

On March 7, 2024, a waterfront residence once asking $12 million will now be sold to the highest bidder in a live, luxury auction® without reserve.

 

 

“Platinum continues to strengthen its relationships with the Caribbean’s leading real estate agents and luxury brokerages, like Antonette and the team at Provenance Properties,” said Trayor Lesnock, Platinum’s founder and president. “We’ll look forward to adding this pristine, waterfront estate on Grand Cayman to our roster of successful luxury auction sales in the Caribbean to date.”

The tri-level property is located in the boutique, waterfront community of Stone Island Residences, a private and gated residential enclave developed by Dart Enterprises, one of the Caribbean’s largest developers and the leader of luxury, residential development on Grand Cayman.

The community is ideally located, occupying a small island on Governors Creek Harbor, just across from the Cayman Islands Yacht Club & Marina. It’s within a short walk of Camana Bay and the renowned Seven Mile Beach. George Town, the Caymans’ capital city and financial hub, is just 10-15 mins south.

The property’s current owner worked with the developer during construction to create a unique, custom residence within the community that offers approx. 9,500 sf throughout 3 living levels, with 5 bedrooms (plus a convertible 6th), 8 full and one half-bath. The balance of the residences in the development are approx. 4,500 sf.

Interestingly, the residence has not yet been occupied since its completion in 2020, though it’s been kept in exceptional condition. “It presents as ‘brand new’ – not a single crack, scuff or dent,” stated Lesnock. The owner also spent $750,000 to furnish the property, and those (unused) furnishings will be included in the sale.

Prominent property features include a waterfront pool with adjacent loggia and summer kitchen, multiple balconies, gourmet kitchen with butler’s pantry, home theater, office, and a sleek elevator serving all levels.

Stone Island community amenities include a gated entry, 24-hr security, private boat slips, waterfront boardwalk, kids’ playground, infinity pool, waterside conservatory, and a luxe clubhouse.

Interested brokers and buyers may preview the property by daily appointment, between the hours of 11 am and 5pm (local time), now through March 6th. Appointments may be scheduled by contacting Platinum’s project manager, James Smith, at +1 800.997.4235. Property photos, video, and diligence documents are also hosted online at CaymanLuxuryAuction.com.

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January: Orlando Regional Relator Association (ORRA) 2024 Gala & Board Installation

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ORLANDO, Fla. (FNN) – Orlando Regional REALTOR® Association (ORRA) held their 2024 Inaugural Gala & Board of Directors Installation in January. As the new president, Rose Kemp will lead ORRA and its 21,000 membership.

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