The streamer will stop reporting global subscriber numbers publicly, a sign that it believes its subscriber base could be reaching maturity.
Netflix may feel that it no longer has anything to prove to its competitors. The streamer reported this week that it maintained its position as the world’s largest on-demand video service, adding 9.3 million customers to raise its global total to 269.6 million. The company still has important goals, such as passing the 10% of total TV viewing time; Netflix does not exceed this amount in any country in the world as of now. But it will no longer report its subscriber numbers publicly starting in 2025, begging the question of how much larger the streamer can truly get, and how it will boost engagement to reach the coveted 10% milestone it wants to reach.
Greg Peters told analysts during the company’s earnings conference call that it reaches 500 million people around the world currently.
Netflix may feel that it no longer has anything to prove to its competitors. The streamer reported this week that it maintained its position as the world’s largest on-demand video service, adding 9.3 million customers to raise its global total to 269.6 million. The company still has important goals, such as passing the 10% of total TV viewing time; Netflix does not exceed this amount in any country in the world as of now. But it will no longer report its subscriber numbers publicly starting in 2025, begging the question of how much larger the streamer can truly get, and how it will boost engagement to reach the coveted 10% milestone it wants to reach.
Greg Peters told analysts during the company’s earnings conference call that it reaches 500 million people around the world currently.
- 4/19/2024
- by David Satin
- The Streamable
Exclusive: French sales and production company Totem Films has boarded international sales on Somalia-set drama The Village Next To Paradise by Mo Harawe.
The movie was among 14 titles announced for the Un Certain Section of the 77th edition of the Cannes Film Festival at the event’s press conference in Paris on Thursday.
Set in a remote Somali village, the feature revolves around a newly assembled family as its members navigate between their different aspirations and the complex world surrounding them. Only love, trust and resilience will power them through their life paths.
“It is a privilege to afford to dream, let alone to become a filmmaker,” said Harawe. following the news. “The Village Next to Paradise serves as a metaphor for a country that holds the potential for paradise, were it not for the circumstances that make such a reality impossible.”
The film stars Somalian actors Ahmed Ali Farah,...
The movie was among 14 titles announced for the Un Certain Section of the 77th edition of the Cannes Film Festival at the event’s press conference in Paris on Thursday.
Set in a remote Somali village, the feature revolves around a newly assembled family as its members navigate between their different aspirations and the complex world surrounding them. Only love, trust and resilience will power them through their life paths.
“It is a privilege to afford to dream, let alone to become a filmmaker,” said Harawe. following the news. “The Village Next to Paradise serves as a metaphor for a country that holds the potential for paradise, were it not for the circumstances that make such a reality impossible.”
The film stars Somalian actors Ahmed Ali Farah,...
- 4/11/2024
- by Melanie Goodfellow
- Deadline Film + TV
Despite Dan Lin stepping in as the new head of film for Netflix, CFO Spencer Neumann says he does not expect the company to take its film vertical in another direction.
At the Morgan Stanley Tech, Media & Telecom Conference on Monday, Neumann spoke about Lin, the producer behind the Lego movies and the new live-action adaptation of Avatar: The Last Airbender, taking over from Scott Stuber, who announced in January he would step down in March.
“It’s not a change in strategy, per se,” Neumann said. “We’re just continuing to kind of evolve and get better, and Dan brings this amazing experience from everything from Lego movies to Sherlock Holmes movies to horror films. He’s got production experience in big companies.”
“I think he’s just going to bring another perspective. And this business is so much about working with the best creatives you know, the best people internally and externally,...
At the Morgan Stanley Tech, Media & Telecom Conference on Monday, Neumann spoke about Lin, the producer behind the Lego movies and the new live-action adaptation of Avatar: The Last Airbender, taking over from Scott Stuber, who announced in January he would step down in March.
“It’s not a change in strategy, per se,” Neumann said. “We’re just continuing to kind of evolve and get better, and Dan brings this amazing experience from everything from Lego movies to Sherlock Holmes movies to horror films. He’s got production experience in big companies.”
“I think he’s just going to bring another perspective. And this business is so much about working with the best creatives you know, the best people internally and externally,...
- 3/4/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Netflix CFO Spencer Neumann gave Scott Stuber a shoutout when discussing the state of the streaming giant’s film operation, saying the exec deserves “a lot of credit” for “what he built.”
In an appearance Monday at the Morgan Stanley Tech, Media & Telecom Conference, Neumann was asked about the state of the company’s film efforts in light of the executive turnover. Stuber is leaving this month after nearly seven years to start his own media company. Dan Lin, a producer and exec known for his involvement with hits like The Lego Movie and the It franchise, is coming aboard in a top film role, reporting to Chief Content Officer Bela Bajaria.
Execs are “feeling really good about the film business,” Neumann said, though he noted that “it’s very difficult to ascribe a specific Roi on a specific genre or title of content in our subscription bundle.”
Film has...
In an appearance Monday at the Morgan Stanley Tech, Media & Telecom Conference, Neumann was asked about the state of the company’s film efforts in light of the executive turnover. Stuber is leaving this month after nearly seven years to start his own media company. Dan Lin, a producer and exec known for his involvement with hits like The Lego Movie and the It franchise, is coming aboard in a top film role, reporting to Chief Content Officer Bela Bajaria.
Execs are “feeling really good about the film business,” Neumann said, though he noted that “it’s very difficult to ascribe a specific Roi on a specific genre or title of content in our subscription bundle.”
Film has...
- 3/4/2024
- by Dade Hayes
- Deadline Film + TV
Exclusive: Fox has picked up The Real Full Monty, a two-hour special inspired by the beloved 1997 film and based on the popular British unscripted format, in which celebrities strip to raise money for cancer charities.
In the Fox special, slated to air later this year, a group of male celebrities will bare all to raise awareness for prostate and testicular cancer testing and research.
Spun Gold TV, the company behind the UK original, co-produces with Fox Alternative Entertainment.
The Fox special will follow male celebrities as they train and rehearse for a big strip-tease dance in front of a live audience. That dance, complete with the famous final disrobing from the movie, will be the culmination of the special. Along the way, the men will push their limits of comfortability, modesty, and brotherhood while also sharing personal stories of how cancer has impacted their lives.
“Sadly, cancer continues to impact...
In the Fox special, slated to air later this year, a group of male celebrities will bare all to raise awareness for prostate and testicular cancer testing and research.
Spun Gold TV, the company behind the UK original, co-produces with Fox Alternative Entertainment.
The Fox special will follow male celebrities as they train and rehearse for a big strip-tease dance in front of a live audience. That dance, complete with the famous final disrobing from the movie, will be the culmination of the special. Along the way, the men will push their limits of comfortability, modesty, and brotherhood while also sharing personal stories of how cancer has impacted their lives.
“Sadly, cancer continues to impact...
- 3/4/2024
- by Peter White and Nellie Andreeva
- Deadline Film + TV
This Oppenheimer article contains spoilers.
Oppenheimer is more than just 2024’s apparent Best Picture favorite and one-half of the “Barbenheimer” movement that shattered modern box office expectations. It’s a sweeping examination of the life of J. Robert Oppenheimer and how his work on the atomic bomb reshaped the course of human history.
Of course, even the most thorough examinations of significant real-life figures and events can’t quite cover everything you need to know about the true stories they try to tell. More importantly, many of those movies often intentionally alter or exclude certain details for the sake of storytelling. Understanding how complicated the filmmaking process can be is the key to understanding how such decisions are ultimately made.
Even a film as thorough as Oppenheimer can’t capture all of the real-life story it endeavors to bring to the big screen. Here are just a few of the...
Oppenheimer is more than just 2024’s apparent Best Picture favorite and one-half of the “Barbenheimer” movement that shattered modern box office expectations. It’s a sweeping examination of the life of J. Robert Oppenheimer and how his work on the atomic bomb reshaped the course of human history.
Of course, even the most thorough examinations of significant real-life figures and events can’t quite cover everything you need to know about the true stories they try to tell. More importantly, many of those movies often intentionally alter or exclude certain details for the sake of storytelling. Understanding how complicated the filmmaking process can be is the key to understanding how such decisions are ultimately made.
Even a film as thorough as Oppenheimer can’t capture all of the real-life story it endeavors to bring to the big screen. Here are just a few of the...
- 2/16/2024
- by Matthew Byrd
- Den of Geek
Last April, Netflix co-ceo Greg Peters said there is “not currently” plans to directly monetize its games. “We want to have a differentiated gaming experience,” he said at the time. “Part of that is giving game creators the ability to think about building games purely from the perspective of player enjoyment and not having to worry about other forms of monetization, whether it be ads or in-game payment.”
Now, Netflix Games has a novel idea: Let’s make money.
According to the Wall Street Journal, Netflix executives have held discussions on how to generate gaming revenue, including ads and in-game payments. Also on the table is charging extra to access the more sophisticated Netflix games.
When reached by IndieWire, Netflix had no comment. A spokesperson pointed us to this line in the WSJ’s story: “Netflix encourages open debate internally on its strategy, which is a key pillar of its culture,...
Now, Netflix Games has a novel idea: Let’s make money.
According to the Wall Street Journal, Netflix executives have held discussions on how to generate gaming revenue, including ads and in-game payments. Also on the table is charging extra to access the more sophisticated Netflix games.
When reached by IndieWire, Netflix had no comment. A spokesperson pointed us to this line in the WSJ’s story: “Netflix encourages open debate internally on its strategy, which is a key pillar of its culture,...
- 1/5/2024
- by Tony Maglio
- Indiewire
Netflix’s board has approved 2024 pay packages of its top execs, with co-CEOs Ted Sarandos and Greg Peters each receiving target compensation worth $40 million.
For Sarandos, $40 million is the same level of pay he is targeted to receive in 2023, while Peters is getting a 5% step-up from the $34.65 million in target compensation for this year. Peters, formerly chief product officer and COO, was named co-ceo alongside Sarandos in January of 2023. Their total target compensation is dependent on company performance and are not guaranteed figures.
Reed Hastings, who stepped aside as CEO earlier this year, remains executive chairman. His compensation package for 2024 is pegged at a target of $1 million, down from $3 million in 2023. Before he exited as CEO, Hastings’ pay target had been $34.7 million this year, mostly in stock.
Netflix disclosed the target pay packages for top execs in an SEC filing Friday. The company said the board’s compensation committee...
For Sarandos, $40 million is the same level of pay he is targeted to receive in 2023, while Peters is getting a 5% step-up from the $34.65 million in target compensation for this year. Peters, formerly chief product officer and COO, was named co-ceo alongside Sarandos in January of 2023. Their total target compensation is dependent on company performance and are not guaranteed figures.
Reed Hastings, who stepped aside as CEO earlier this year, remains executive chairman. His compensation package for 2024 is pegged at a target of $1 million, down from $3 million in 2023. Before he exited as CEO, Hastings’ pay target had been $34.7 million this year, mostly in stock.
Netflix disclosed the target pay packages for top execs in an SEC filing Friday. The company said the board’s compensation committee...
- 12/8/2023
- by Todd Spangler
- Variety Film + TV
Wall Street analysts lowered their growth forecasts for Netflix’s third-quarter earnings and slashed price targets for the streaming company’s stock as they await further clarity on the company’s growth strategy.
The changes for Netflix, which will report after the bell on Wednesday, come as analysts surveyed by Zacks Investment Research are expecting the company to report earnings of $3.47 per share on revenue of $8.54 billion for the quarter.
The streamer, which unlike its legacy media competitors is profitable, has shifted its focus to an ad-supported tier and a crackdown on password sharing for an estimated 100 million households globally as it looks to accelerate revenue growth, expand its margins and continue to grow positive free cash flow.
Netflix co-ceo Ted Sarandos acknowledged during Bloomberg’s Screentime conference on Thursday that the company’s ad tier is still in its infancy and “definitely not at the scale that we want it to be at yet.
The changes for Netflix, which will report after the bell on Wednesday, come as analysts surveyed by Zacks Investment Research are expecting the company to report earnings of $3.47 per share on revenue of $8.54 billion for the quarter.
The streamer, which unlike its legacy media competitors is profitable, has shifted its focus to an ad-supported tier and a crackdown on password sharing for an estimated 100 million households globally as it looks to accelerate revenue growth, expand its margins and continue to grow positive free cash flow.
Netflix co-ceo Ted Sarandos acknowledged during Bloomberg’s Screentime conference on Thursday that the company’s ad tier is still in its infancy and “definitely not at the scale that we want it to be at yet.
- 10/17/2023
- by Lucas Manfredi
- The Wrap
Netflix is expected to post strong subscriber gains when it reports its latest quarterly results on Oct. 18, but you couldn’t tell that from the stock’s performance since the global streamer’s July earnings update, when it added 5.9 million subscribers to total 238.4 million global paid memberships.
That is because shares in the streaming giant, run by Ted Sarandos and Greg Peters, have been losing ground since then as investors have been evaluating its earnings outlook amid cautious management comments about the growth of the firm’s nascent advertising tier and margins. “Building an ads business from scratch isn’t easy and we have lots of hard work ahead,” Netflix leadership said in a letter at the time.
Netflix executives also have signaled a possible increase in spending on licensed content. And any insight into the financial impact of the streamer’s password-sharing crackdown will also be closely watched. Indeed,...
That is because shares in the streaming giant, run by Ted Sarandos and Greg Peters, have been losing ground since then as investors have been evaluating its earnings outlook amid cautious management comments about the growth of the firm’s nascent advertising tier and margins. “Building an ads business from scratch isn’t easy and we have lots of hard work ahead,” Netflix leadership said in a letter at the time.
Netflix executives also have signaled a possible increase in spending on licensed content. And any insight into the financial impact of the streamer’s password-sharing crackdown will also be closely watched. Indeed,...
- 10/15/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Netflix is gearing up to raise the prices of streaming plans without advertising “a few months” after the SAG-AFTRA actors strike is resolved, according to a new report.
The streaming service is “discussing” raising prices in “several markets globally,” and likely will first increase fees in the U.S. and Canada, according to a Wall Street Journal report, citing anonymous sources. The Journal did not have info on what Netflix’s new prices will be or when they might go into effect.
Netflix declined to comment on the report.
In the U.S., Netflix’s Standard plan is currently $15.49/month and the Premium tier (four streams) costs $19.99/month. This summer, Netflix eliminated the Basic tier without ads (which had cost $9.99/month) in the U.S. and other markets, in a bid to drive customers to the $6.99/month ad-supported plan or higher-priced tiers.
This past July, Netflix CFO Spence...
The streaming service is “discussing” raising prices in “several markets globally,” and likely will first increase fees in the U.S. and Canada, according to a Wall Street Journal report, citing anonymous sources. The Journal did not have info on what Netflix’s new prices will be or when they might go into effect.
Netflix declined to comment on the report.
In the U.S., Netflix’s Standard plan is currently $15.49/month and the Premium tier (four streams) costs $19.99/month. This summer, Netflix eliminated the Basic tier without ads (which had cost $9.99/month) in the U.S. and other markets, in a bid to drive customers to the $6.99/month ad-supported plan or higher-priced tiers.
This past July, Netflix CFO Spence...
- 10/3/2023
- by Todd Spangler
- Variety Film + TV
Death, taxes, and streaming services raising their prices. Those are about the only things that you can count on in today’s ever-changing world. Now, a report from the Wall Street Journal indicates that the world’s largest streaming service might be the next platform planning a price hike. WSJ’s Jessica Toonkel and Sarah Krouse are reporting that Netflix will be raising its prices in select markets — including the United States and Canada — in “a few months.”
Sign Up $6.99+ / month netflix.com
The report from Toonkel and Krouse didn’t indicate by how much Netflix is planning to increase subscription prices, or in what regions the change would take place. The company’s last reported subscriber total puts its customer base at 238.29 million. However, simply adding subscribers is no longer the end goal for the vast majority of streaming services. As the industry approaches maturation and economic conditions change around the world,...
Sign Up $6.99+ / month netflix.com
The report from Toonkel and Krouse didn’t indicate by how much Netflix is planning to increase subscription prices, or in what regions the change would take place. The company’s last reported subscriber total puts its customer base at 238.29 million. However, simply adding subscribers is no longer the end goal for the vast majority of streaming services. As the industry approaches maturation and economic conditions change around the world,...
- 10/3/2023
- by Matt Tamanini
- The Streamable
Hans Niemann, 20, a chess grandmaster, has repeatedly denied the claim that he cheats in over-the-board chess.
In a conversation on Piers Morgan Uncensored, he addressed the specific claims that he cheated with vibrating sex toys. These allegations emerged on social media, although it is unclear the original source of the accusations.
When pressed as to whether he had used such toys as he played, Neumann replied, “Well, your curiosity is a bit concerning, you know – maybe you’re personally interested, but I can tell you, no. Categorically, no, of course not.”
In the 2022 at Sinquefield Cup in St. Louis, Neimann beat five-time world champion Magnus Carlsen.
In the days that followed his victory, The New York Times reported that Neimann had stated, “They want me to strip fully naked, I’ll do it. I don’t care, because I know that I’m clean. You want me to play in...
In a conversation on Piers Morgan Uncensored, he addressed the specific claims that he cheated with vibrating sex toys. These allegations emerged on social media, although it is unclear the original source of the accusations.
When pressed as to whether he had used such toys as he played, Neumann replied, “Well, your curiosity is a bit concerning, you know – maybe you’re personally interested, but I can tell you, no. Categorically, no, of course not.”
In the 2022 at Sinquefield Cup in St. Louis, Neimann beat five-time world champion Magnus Carlsen.
In the days that followed his victory, The New York Times reported that Neimann had stated, “They want me to strip fully naked, I’ll do it. I don’t care, because I know that I’m clean. You want me to play in...
- 9/30/2023
- by Baila Eve Zisman
- Uinterview
It’s been nearly four months since Netflix handed down its official guidelines for account sharing. The concept of rules against account sharing caused no end of consternation amongst users when they were first announced, but as it stands Netflix has not seen much in the way of churn because of those guidelines.
Sign Up $6.99+ / month netflix.com
Company CFO Spencer Neumann spoke about password-sharing rules at the 2023 Bank of America Media, Communications and Entertainment conference this week. He made the surprising revelation that while Netflix was converting plenty of account-sharers to their own paid subscriptions, the majority of those users were opting for an ad-free plan instead of Netflix’s Standard with Ads tier.
“The ad tier is a healthy mix in general across our plans, but it’s the minority because we have multiple plans,” Neumann explained. “It skews a little bit more towards ad-free in these spin-offs,...
Sign Up $6.99+ / month netflix.com
Company CFO Spencer Neumann spoke about password-sharing rules at the 2023 Bank of America Media, Communications and Entertainment conference this week. He made the surprising revelation that while Netflix was converting plenty of account-sharers to their own paid subscriptions, the majority of those users were opting for an ad-free plan instead of Netflix’s Standard with Ads tier.
“The ad tier is a healthy mix in general across our plans, but it’s the minority because we have multiple plans,” Neumann explained. “It skews a little bit more towards ad-free in these spin-offs,...
- 9/14/2023
- by David Satin
- The Streamable
When the news came out that Netflix had grown to 238.39 million subscribers in the second quarter of 2023, there was understandably plenty of attention paid to its customer increases. But Netflix’s actual earnings during the quarter were not as robust as some analysts were expecting, and any sign of weakness from the world’s largest streaming service leads to anxiety in the marketplace about the future prospects of streaming in general.
Sign Up $6.99+ / month netflix.com
That’s why Puck News’s Julia Alexander — who is also Director of Strategy at Parrot Analytics — believes that price increases are in Netflix’s future, though they may not be immediate. Netflix CFO Spencer Neumann stated explicitly during the company's earnings call earlier this month that the company would not raise subscription costs for at least 12 months.
“We’re now more than a year out from any price adjustments in our big revenue countries,...
Sign Up $6.99+ / month netflix.com
That’s why Puck News’s Julia Alexander — who is also Director of Strategy at Parrot Analytics — believes that price increases are in Netflix’s future, though they may not be immediate. Netflix CFO Spencer Neumann stated explicitly during the company's earnings call earlier this month that the company would not raise subscription costs for at least 12 months.
“We’re now more than a year out from any price adjustments in our big revenue countries,...
- 7/28/2023
- by David Satin
- The Streamable
It’s a fact of adulthood that things only ever seem to get more expensive, never cheaper. Streaming services are no exception; 35% of American adults think their streaming subscriptions cost too much. But streaming users also identify Netflix as the service they can’t do without, and that company is using a (somewhat) lighter touch with price increases, for now.
Sign Up $6.99+ / month netflix.com
Netflix reported its second-quarter earnings on Wednesday when it revealed it had gained nearly six million subscribers since the beginning of April. As part of its conference call with investors and analysts, CFO Spencer Neumann pledged that it would be at least 12 months before the company considered a price increase.
“We’re now more than a year out from any price adjustments in our big revenue countries,” Neumann said. “We largely pause them during paid sharing rollout and so that’s to be expected. For ads,...
Sign Up $6.99+ / month netflix.com
Netflix reported its second-quarter earnings on Wednesday when it revealed it had gained nearly six million subscribers since the beginning of April. As part of its conference call with investors and analysts, CFO Spencer Neumann pledged that it would be at least 12 months before the company considered a price increase.
“We’re now more than a year out from any price adjustments in our big revenue countries,” Neumann said. “We largely pause them during paid sharing rollout and so that’s to be expected. For ads,...
- 7/20/2023
- by David Satin
- The Streamable
It’s going to be a while before Netflix raises its prices again, and subscribers have the streamer’s paid sharing rollout to thank.
“We’re now more than a year out from any price adjustments in our big revenue countries. We largely paused them during the paid sharing rollout,” Netflix’s CFO Spencer Neumann said during the company’s second quarter earnings call Wednesday. Neumann also called the sharing plan the company’s “primary revenue accelerator in the year.”
“Most of our revenue growth this year is from growth in volume from new paid memberships, and that’s largely driven by our new paid rollout,” Neumann said. While ads will eventually contribute more to Netflix’s revenue stream, the company expects that growth will take time, calling its ad system a “gradual revenue build.”
In May, the streamer officially launched paid sharing in over 100 countries that accounted for 80% of Netflix’s revenue.
“We’re now more than a year out from any price adjustments in our big revenue countries. We largely paused them during the paid sharing rollout,” Netflix’s CFO Spencer Neumann said during the company’s second quarter earnings call Wednesday. Neumann also called the sharing plan the company’s “primary revenue accelerator in the year.”
“Most of our revenue growth this year is from growth in volume from new paid memberships, and that’s largely driven by our new paid rollout,” Neumann said. While ads will eventually contribute more to Netflix’s revenue stream, the company expects that growth will take time, calling its ad system a “gradual revenue build.”
In May, the streamer officially launched paid sharing in over 100 countries that accounted for 80% of Netflix’s revenue.
- 7/19/2023
- by Kayla Cobb
- The Wrap
Netflix is “more than a year out” from any price increases in its major markets like the U.S. as it looks to spur revenue growth from its password-sharing crackdown, CFO Spence Neumann said.
The streamer has “largely paused” price hikes after it began rolling out the paid-sharing program starting in May 2023, Neumann said on the Q2 earnings interview. “Most of our revenue growth this year is from growth in volume, through new paid memberships. And that’s largely driven by our paid-sharing rollout,” he said. “It is our primary revenue accelerator in the year.”
Netflix most recently raised prices in the U.S. and other major markets in the first half of 2022, under which its Standard plan — its most popular tier, which provides two simultaneous HD streams — increased by $1.50, to $15.49 per month.
The company reported Q2 earnings results Wednesday, announcing 5.9 million net new paid subscribers and saying that its...
The streamer has “largely paused” price hikes after it began rolling out the paid-sharing program starting in May 2023, Neumann said on the Q2 earnings interview. “Most of our revenue growth this year is from growth in volume, through new paid memberships. And that’s largely driven by our paid-sharing rollout,” he said. “It is our primary revenue accelerator in the year.”
Netflix most recently raised prices in the U.S. and other major markets in the first half of 2022, under which its Standard plan — its most popular tier, which provides two simultaneous HD streams — increased by $1.50, to $15.49 per month.
The company reported Q2 earnings results Wednesday, announcing 5.9 million net new paid subscribers and saying that its...
- 7/19/2023
- by Todd Spangler
- Variety Film + TV
Netflix provided an update on its paid account-sharing initiative, which it says has now been expanded to more than 100 countries, representing more than 80 percent of its revenue base.
The streamer began cracking down on users who share their Netflix password in the U.S. on May 23, after launching the program in several countries around the world in early February. Now, as of the second quarter, the company reported adding 5.9 million new subscribers, reaching 238.4 million globally, and says that it has seen a limited number of account cancellations as a result of the action.
“The cancel reaction was low and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature. We are revenue and paid membership positive vs. prior to the launch of paid sharing across every region in our latest launch,...
The streamer began cracking down on users who share their Netflix password in the U.S. on May 23, after launching the program in several countries around the world in early February. Now, as of the second quarter, the company reported adding 5.9 million new subscribers, reaching 238.4 million globally, and says that it has seen a limited number of account cancellations as a result of the action.
“The cancel reaction was low and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature. We are revenue and paid membership positive vs. prior to the launch of paid sharing across every region in our latest launch,...
- 7/19/2023
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Netflix touted strong momentum for its push into advertising, claiming subscribers on its ad-supported tier nearly doubled in the second quarter of 2023. However, the streamer said, advertising revenue in Q2 was still not material in the context of its overall business.
The company announced Q2 earnings Wednesday. Overall, Netflix netted 5.9 million new paid subscribers, amid its broader crackdown on password-sharing violators.
On the ad front, “While we continue to grow our reach — ads plan membership has nearly doubled since Q1 — it’s still off a small membership base, so current ad revenue isn’t material for Netflix,” the company said in its quarterly letter to shareholders. “Building an ads business from scratch isn’t easy and we have lots of hard work ahead, but we’re confident that over time we can develop advertising into a multibillion-dollar incremental revenue stream.”
In mid-May, Netflix said it had signed up more than...
The company announced Q2 earnings Wednesday. Overall, Netflix netted 5.9 million new paid subscribers, amid its broader crackdown on password-sharing violators.
On the ad front, “While we continue to grow our reach — ads plan membership has nearly doubled since Q1 — it’s still off a small membership base, so current ad revenue isn’t material for Netflix,” the company said in its quarterly letter to shareholders. “Building an ads business from scratch isn’t easy and we have lots of hard work ahead, but we’re confident that over time we can develop advertising into a multibillion-dollar incremental revenue stream.”
In mid-May, Netflix said it had signed up more than...
- 7/19/2023
- by Todd Spangler
- Variety Film + TV
Exclusive: David Neumann’s management company Newmation, for animation creators in film and TV, on Thursday announced its signing of Malenga Mulendema, the creator of Supa Team 4 — Netflix’s first-ever original animated series out of Africa, which debuts on the platform on July 20th.
Formerly titled Mama K’s Team 4, the show follows four teenage girls living in futuristic Lusaka, Zambia, as they’re recruited to save the world by a retired secret agent. Providing animation for it is Superprod, the French company behind the Oscar-nominated Song of the Sea. Producing Supa Team 4 were South Africa’s Triggerfish Studio, which most recently debuted the Afrofuturist animated anthology series Kizazi Moto: Generation Fire on Disney+, and London-based kids producer Cake (Angry Birds: Summer Madness).
A Native of Zambia, Mulendema came to make the series after being named as one of eight winners of the Triggerfish Story Lab, a pan-African talent...
Formerly titled Mama K’s Team 4, the show follows four teenage girls living in futuristic Lusaka, Zambia, as they’re recruited to save the world by a retired secret agent. Providing animation for it is Superprod, the French company behind the Oscar-nominated Song of the Sea. Producing Supa Team 4 were South Africa’s Triggerfish Studio, which most recently debuted the Afrofuturist animated anthology series Kizazi Moto: Generation Fire on Disney+, and London-based kids producer Cake (Angry Birds: Summer Madness).
A Native of Zambia, Mulendema came to make the series after being named as one of eight winners of the Triggerfish Story Lab, a pan-African talent...
- 7/13/2023
- by Matt Grobar
- Deadline Film + TV
Ratboys are back with a new album called The Window. The group’s latest LP arrives August 25th via Topshelf Records, and along with the news, they’ve shared a new run of North American tour dates and the lead single “It’s Alive!”
The Window marks the first time Ratboys bassist Sean Neumann and drummer Marcus Nuccio collaborated with guitarists Julia Steiner and Dave Sagan. Teaming with Seattle producer Chris Walla, the band spent two years working out the album’s 11 songs, with notes from Walla, before putting them to tape in 2022.
“The language Chris uses when speaking about music comes from a very emotionally centered place, and that’s something that resonated with us. He would say things like, ‘This cymbal hurts my feelings,’ or ‘This song is like a cat,’” Nuccio recalled in a statement. According to Neumann, “It was such a disarming thing. We didn’t get bogged down in technical terms,...
The Window marks the first time Ratboys bassist Sean Neumann and drummer Marcus Nuccio collaborated with guitarists Julia Steiner and Dave Sagan. Teaming with Seattle producer Chris Walla, the band spent two years working out the album’s 11 songs, with notes from Walla, before putting them to tape in 2022.
“The language Chris uses when speaking about music comes from a very emotionally centered place, and that’s something that resonated with us. He would say things like, ‘This cymbal hurts my feelings,’ or ‘This song is like a cat,’” Nuccio recalled in a statement. According to Neumann, “It was such a disarming thing. We didn’t get bogged down in technical terms,...
- 6/6/2023
- by Carys Anderson
- Consequence - Music
The Oldenburg International Film Festival is entering the metaverse. The indie film fest, known as “Germany’s Sundance,” is celebrating its 30th anniversary this year with a new cooperation that will allow fans to enter a virtual reality version of the event.
The collaboration between Oldenburg, German metaverse platform Milc and film critics’ site The Film Verdict, announced Thursday, is being billed as a way to bring “the magic of Oldenburg” and the international festival scene into the virtual world.
Oldenburg founder and festival director Torsten Neumann also noted that doing “metaverse screenings” — showing festival films for a global audience in the virtual reality space of the Milc platform — may be the way for international festivals to give fans worldwide access to their premieres and exclusive events.
Currently, regulations imposed by the International Federation of Film Producers Associations (Fiapf), require international festivals like Oldenburg to restrict access to their world...
The collaboration between Oldenburg, German metaverse platform Milc and film critics’ site The Film Verdict, announced Thursday, is being billed as a way to bring “the magic of Oldenburg” and the international festival scene into the virtual world.
Oldenburg founder and festival director Torsten Neumann also noted that doing “metaverse screenings” — showing festival films for a global audience in the virtual reality space of the Milc platform — may be the way for international festivals to give fans worldwide access to their premieres and exclusive events.
Currently, regulations imposed by the International Federation of Film Producers Associations (Fiapf), require international festivals like Oldenburg to restrict access to their world...
- 5/11/2023
- by Scott Roxborough
- The Hollywood Reporter - Movie News
If you’re one of the Netflix subscribers who pay $6.99 per month to watch via its Basic With Ads tier, the streamer owes you its thanks: You’re more valuable than the ad-free Standard customers who to pay $15.49 per month.
According to Netflix’s first-quarter earnings report, “Basic with Ads” in the U.S. now brings in more overall revenue per user than the company’s Standard plan. Do the math, and that tells us advertising contributes at least $8.50 in revenue per (U.S.) user to Netflix. (A report in Bloomberg last month put the number of ad-tier subscribers at 1 million.)
As CFO Spencer Neumann said during the senior team’s Q1 earnings interview, “Overall we’re pleased with our per-member ad-plan economics. We really like the path we’re on.”
Who wouldn’t? Neumann called AVOD (advertising-supported video on-demand) Netflix a “win-win” situation. “Basic with Ads” members made the...
According to Netflix’s first-quarter earnings report, “Basic with Ads” in the U.S. now brings in more overall revenue per user than the company’s Standard plan. Do the math, and that tells us advertising contributes at least $8.50 in revenue per (U.S.) user to Netflix. (A report in Bloomberg last month put the number of ad-tier subscribers at 1 million.)
As CFO Spencer Neumann said during the senior team’s Q1 earnings interview, “Overall we’re pleased with our per-member ad-plan economics. We really like the path we’re on.”
Who wouldn’t? Neumann called AVOD (advertising-supported video on-demand) Netflix a “win-win” situation. “Basic with Ads” members made the...
- 4/19/2023
- by Tony Maglio
- Indiewire
“There’s a lot of ways to create and collect demand for a film,” co-ceo says.
Despite promising signs for post-pandemic box office Ted Sarandos has doubled down on Netflix’s film release strategy and declared, “Driving folks to a theatre is just not our business.
Late last year Netflix conceded it left money on the table with the one-week theatrical release of Rian Johnson’s Glass Onion: A Knives Out Mystery but insisted short releases promoted its films and drove viewership on the service.
Strong early 2023 box office supported by studios with streamer siblings and recent moves by Amazon Studios...
Despite promising signs for post-pandemic box office Ted Sarandos has doubled down on Netflix’s film release strategy and declared, “Driving folks to a theatre is just not our business.
Late last year Netflix conceded it left money on the table with the one-week theatrical release of Rian Johnson’s Glass Onion: A Knives Out Mystery but insisted short releases promoted its films and drove viewership on the service.
Strong early 2023 box office supported by studios with streamer siblings and recent moves by Amazon Studios...
- 4/19/2023
- by Jeremy Kay
- ScreenDaily
Netflix doesn’t want Hollywood writers to go on strike — but the streamer has a “pretty robust slate of releases” that will help it weather a walkout better than others, co-ceo Ted Sarandos said.
His comments, on the company’s first quarter 2023 earnings interview, come a day after Writers Guild of America members overwhelmingly passed a strike authorization vote, giving union leadership the power to call a strike once the contract expires on May 1.
“We respect the writers, and we respect the WGA,” he said. “We couldn’t be here without them. We don’t want a strike. The last time there was a strike, it was devastating to creators. It was really hard on the industry. It was painful for local economies that support productions. And it was very, very, very bad for fans.”
Sarandos said “we want to work really hard to make sure we can find a...
His comments, on the company’s first quarter 2023 earnings interview, come a day after Writers Guild of America members overwhelmingly passed a strike authorization vote, giving union leadership the power to call a strike once the contract expires on May 1.
“We respect the writers, and we respect the WGA,” he said. “We couldn’t be here without them. We don’t want a strike. The last time there was a strike, it was devastating to creators. It was really hard on the industry. It was painful for local economies that support productions. And it was very, very, very bad for fans.”
Sarandos said “we want to work really hard to make sure we can find a...
- 4/18/2023
- by Todd Spangler
- Variety Film + TV
If truth really is stranger than fiction, TLC‘s new reality show Milf Manor is an excellent example. It features eight single women in their 40s and 50s, trying to find love with one of eight men in their 20s. However, the first episode started with a shocking twist: The potential suitors were the sons of the women who seeking love.
When production revealed the twist, the moms and their sons stared at each other in astonishment, and an unforgettable reality TV moment was created. Whether you love or hate this controversial new show, you’ll be surprised to hear how the casting process really went.
How did TLC cast ‘Milf Manor’ without the contestants knowing?
According to The Washington Post, casting the show was tricky. Producers had to find single moms of the right age who had single sons interested in dating significantly older women. They found contestant Kelle Mortensen,...
When production revealed the twist, the moms and their sons stared at each other in astonishment, and an unforgettable reality TV moment was created. Whether you love or hate this controversial new show, you’ll be surprised to hear how the casting process really went.
How did TLC cast ‘Milf Manor’ without the contestants knowing?
According to The Washington Post, casting the show was tricky. Producers had to find single moms of the right age who had single sons interested in dating significantly older women. They found contestant Kelle Mortensen,...
- 2/26/2023
- by Kira Martin
- Showbiz Cheat Sheet
Director Marion Neumann not only pays tribute to the magic of mushrooms but claims they could save humanity from the coming climate apocalypse
At once earthy and magical, fungi not only link us to the origins of life itself but also open doors to alternate realms of consciousness. In Marion Neumann’s loose-limbed documentary, just the latest in a string of films that opine on its enigma, the mushroom can even save the world.
Compared with the surreal time-lapse photography of Louie Schwartzberg’s Fantastic Fungi (2019) or the rustic charm of Michael Dweck and Gregory Kershaw’s The Truffle Hunters (2020), Neumann’s approach is more free-wheeling and eccentric. Interviews with a wide host of fungi lovers – who include scientists, culinary specialists and devoted enthusiasts – delve into the generative power of mushrooms with vigour and optimism. Considering that the cultivation of fungal cultures has allowed us to ease our physical ailments...
At once earthy and magical, fungi not only link us to the origins of life itself but also open doors to alternate realms of consciousness. In Marion Neumann’s loose-limbed documentary, just the latest in a string of films that opine on its enigma, the mushroom can even save the world.
Compared with the surreal time-lapse photography of Louie Schwartzberg’s Fantastic Fungi (2019) or the rustic charm of Michael Dweck and Gregory Kershaw’s The Truffle Hunters (2020), Neumann’s approach is more free-wheeling and eccentric. Interviews with a wide host of fungi lovers – who include scientists, culinary specialists and devoted enthusiasts – delve into the generative power of mushrooms with vigour and optimism. Considering that the cultivation of fungal cultures has allowed us to ease our physical ailments...
- 2/21/2023
- by Phuong Le
- The Guardian - Film News
Netflix’s new co-ceo duo, Ted Sarandos and Greg Peters, along with Reed Hastings, who’s stepping into an executive chairman role, discussed the leadership change and more on its fourth-quarter 2022 earnings interview.
Overall, the execs said there’s no significant change in strategy with the executive changes. “We’ve always been focused on the future and where the consumers are going,” Sarandos said, pointing out that Netflix doesn’t have to manage a legacy media business. In the U.S. Netflix is about 8% of time spent viewing TV “so it’s an enormous amount of growth ahead, even in markets where we are very well established.”
For Q4, Netflix reported a net gain of 7.7 million new subscribers, blowing past the 4.5 million it previously forecast. The company didn’t break out the performance of Netflix Basic With Ads, which launched in the U.S. on Nov. 3 at $6.99 per month, 30% less...
Overall, the execs said there’s no significant change in strategy with the executive changes. “We’ve always been focused on the future and where the consumers are going,” Sarandos said, pointing out that Netflix doesn’t have to manage a legacy media business. In the U.S. Netflix is about 8% of time spent viewing TV “so it’s an enormous amount of growth ahead, even in markets where we are very well established.”
For Q4, Netflix reported a net gain of 7.7 million new subscribers, blowing past the 4.5 million it previously forecast. The company didn’t break out the performance of Netflix Basic With Ads, which launched in the U.S. on Nov. 3 at $6.99 per month, 30% less...
- 1/20/2023
- by Todd Spangler
- Variety Film + TV
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