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   Technology StocksNetflix (NFLX) and the Streaming Wars

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To: Glenn Petersen who wrote (2072)10/11/2021 5:39:12 AM
From: Glenn Petersen
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Netflix to Sell ‘Squid Game’ Goods, Other Products on Walmart Site

The ‘Netflix Hub’ for consumer merchandise is part of the streaming company’s broader effort to diversify revenue and market its content

By Joe Flint
Wall Street Journal
Oct. 11, 2021 1:01 am ET

The Netflix hit ‘Squid Game’ will be among the shows that the company taps as a source of merchandise for the digital store. PHOTO: YOUNGKYU PARK/NETFLIX

Netflix Inc. NFLX 0.13% is teaming up with Walmart Inc. WMT 0.30% to create a digital storefront on the retailer’s website that will sell merchandise tied to hit shows such as “Stranger Things” and “Squid Game,” the companies said.

The partnership is part of Netflix’s broader strategy to develop new revenue streams beyond its core subscription business and market its content away from its own platform.

Netflix consumer products, from T-shirts to stickers to dolls, are already available online from several retailers. The deal with Walmart creates a dedicated area of for Netflix merchandise, the Netflix Hub—the first such online storefront that Netflix has created with a national retailer. Netflix also has its own online store,

“We want to continue to meet fans wherever they are, whether that’s through our biggest online marketplace at Walmart, or the more boutique and curated,” said Josh Simon, Netflix’s vice president of consumer products.

Mr. Simon said revenue won’t be the only measuring stick of success for the venture. “The real value is in reinforcing fan love for the shows and films they see on Netflix,” he said.

Netflix licenses its intellectual properties to manufacturers, who create the merchandise. Netflix also gets a percentage of the manufacturer’s sales to retailers, a person familiar with the matter said.

Netflix-themed merchandise includes “Squid Game” T-shirts, “Nailed It!” baking kits and a “Stranger Things” Bluetooth cassette player. The company doesn’t disclose the size of its emerging e-commerce business.

Netflix is the world’s biggest streaming service, with more than 200 million subscribers world-wide. But growth has slowed, particularly in the U.S. Netflix faces increasing competition from rivals including Walt Disney Co. ’s Disney+ and Inc.’s Prime Video.

Netflix is also entering the videogame space as it tries to attract new customers and keep existing subscribers on its platform for longer periods.

Netflix’s product lineup also includes items tied to the show ‘Stranger Things.’ PHOTO: NETFLIX

Netflix Chairman and Co-Chief Executive Reed Hastings has said he doesn’t expect new business lines such as e-commerce and videogames to be significant revenue generators.

“It’s enhancing the big service that we have,” Mr. Hastings said on a recent call with Wall Street analysts, adding that the goal is to help build interest in the company’s major titles. “The reason we’re doing them is to help the subscription service grow and be more important in people’s lives.”

Walmart Executive Vice President Jeff Evans said the partnership is an opportunity for the retailer to connect with the Netflix fan base and potentially attract new customers.

Associating with more upscale brands has become a priority for Walmart. Earlier this year, it unveiled a partnership with Gap Inc. to sell Gap-branded home goods in its store. It has also launched a series of higher-end fashion lines.

Write to Joe Flint at

Netflix to Sell ‘Squid Game’ Goods, Other Products on Walmart Site - WSJ

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From: Sr K10/14/2021 1:15:58 AM
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Netflix Employee Group Calls for Walkout Amid Tensions Over Dave Chappelle Show

Streaming giant stands by special that some staff said was offensive to transgender community; ‘There will always be content on Netflix some people believe is harmful’

Dave Chappelle’s Netflix show ‘The Closer’ is currently among the most-watched programs on the service in the U.S.PHOTO: MATHIEU BITTON/NETFLIX

Joe Flint

Oct. 13, 2021 7:53 pm ET

Tensions are rising inside Netflix Inc. NFLX 0.77% over a Dave Chappelle stand-up special that some employees said was offensive to the transgender community, the latest clash between the streaming giant’s radical-candor culture and its embrace of creative freedom.

A Netflix transgender-employee group is encouraging staff to stage a walkout next Wednesday to protest Co-Chief Executive and Chief Content Officer Ted Sarandos’s recent defense of Mr. Chappelle’s special. The plans for a walkout were earlier reported by the Verge and confirmed by Netflix.

In “The Closer,” which was released last week and is currently among the most-watched programs on the service in the U.S., Mr. Chappelle said “gender is a fact” and said he identified as a “TERF,” an acronym that stands for “trans-exclusionary radical feminist.” Mr. Chappelle said he isn’t a favorite of the trans community, then added, “Someone told me, ‘They after you, Dave,’ and I said, ‘One they or many theys?’ ”

A day after the special’s release, Terra Field, a Netflix software engineer who is transgender, criticized the show on Twitter, saying Mr. Chappelle attacked “the trans community, and the very validity of transness.” The tweets went viral and led to a backlash inside the streaming giant over the special. Groups including LGBTQ-rights advocacy group GLAAD spoke up against the show, and the National Black Justice Coalition asked for Netflix to take the special off its platform.

On Monday, Mr. Sarandos issued a companywide email defending the special and saying the service wouldn’t pull it down. Mr. Sarandos said the company works hard to support creative freedom and this means “there will always be content on Netflix some people believe is harmful.” He also said he didn’t think the special incites hate or violence. Mr. Chappelle has a longstanding relationship with Netflix, having made multiple specials for the streaming service. In the end credits of “The Closer,” there is a picture of Messrs. Chappelle and Sarandos laughing together.

Addressing the criticism during an event in Hollywood last week, Mr. Chappelle said, “If this is what being canceled is like, I love it.”

Netflix said Ms. Field wasn’t punished for her tweets, but she and two other employees got into hot water at Netflix when they attended an online meeting of senior Netflix executives last week without permission.

The trio was suspended but promptly reinstated, according to Netflix. Ms. Field said Netflix told her it appeared there was no ill intent on her part and that she was unaware that the meeting was only for senior staffers at the company, according to a tweet from Ms. Field. Netflix confirmed that account.

Netflix stands in contrast to traditional studios and networks, where it is rare for employees to question content decisions—much less take to social media to negatively criticize those choices. At Netflix, radical candor and transparency are encouraged within the company’s hallways and meetings.

Among programmers, Netflix has stood out when it comes to carrying shows featuring transgender performers, including “Sense8,” “Orange Is the New Black,” “Sex Education” and “Control Z.” It also has a development deal with transgender producer Janet Mock.

This isn’t the first time a Chappelle special has caused anger inside Netflix. His previous stand-up special, “Sticks and Stones,” which also included commentary on the LGBTQ community, was found by some inside the company as offensive, according to people familiar with the matter.

Last year, a sex-filled movie called “365 Days” that was popular on the platform made some inside the company uncomfortable, as did the movie “Cuties,” which was accused of sexually exploiting young girls, the people said.


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To: Glenn Petersen who wrote (2072)10/17/2021 3:48:30 AM
From: Glenn Petersen
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‘Squid Game’ officially had the biggest Netflix original launch ever

By Jacob Siegal
October 13th, 2021 at 2:57 PM

The legend of Netflix’s new series Squid Game continues to grow in the days following its release. On Tuesday, Netflix Geeked on Twitter announced that 111 million global accounts have started watching Squid Game. This makes the South Korean thriller the first Netflix original series to surpass 100 million viewers during its launch window. Notably, it only took Squid Game 17 days to reach such a milestone. Netflix typically measures a show’s launch window as its first 28 days on the service.

Squid Game has Netflix’s biggest launch ever

Netflix recently revealed its top 10 original series of all time during the 2021 Code conference. Keep in mind that these figures below represent the number of accounts that watched at least two minutes of any episode within the show’s first 28 days on the streaming service:
1. Bridgerton Season 1: 82 million accounts

2. Lupin Part 1: 76 million accounts

3. The Witcher Season 1: 76 million accounts

4. Sex/Life Season 1: 67 million accounts

5. Stranger Things 3: 67 million accounts

6. Money Heist Part 4: 65 million accounts

7. Tiger King Season 1: 64 million accounts

8. The Queen’s Gambit: 62 million accounts

9. Sweet Tooth Season 1: 60 million accounts

10. Emily in Paris Season 1: 58 million accounts

As you can see, Squid Game blew all of these shows out of the water. In fact, it seemingly took around two weeks for the show to break the record. Squid Game started streaming on September 17th, which means it’s still only been on Netflix for 26 days. There’s no telling how many more subscribers have spent at least two minutes watching the show in the past nine days.

Despite being a foreign-language series that arrived without much fanfare, Squid Game is going to go down as the biggest Netflix original in the service’s history. A Netflix spokesperson told The Verge that the series has reached the number one spot on the top 10 list in 94 countries. That’s every country in which Netflix features a top 10 list. Squid Game has also topped the list in the US for 21 days straight. That’s the longest any foreign-language show has ever stayed in that position.

“Before, with older media, when one country’s filmmaker wanted to go to bring their film to another country, there were a lot of barriers with time and language,” Squid Game writer and director Hwang Dong-hyuk told IndieWire. “For example, if it’s a Korean movie venturing into the U.S. market, we had to go to the film festivals and find a distributor in the U.S. But now we have streaming services and YouTube, so we have the infrastructure to go global in everything that we make. I think now if there’s good content, the global audience is just waiting to watch it. I think ‘Squid Game’ is proof that this is possible. The only possible problem that’s left could be the language barrier, but I think people are warming up to that, as well.”

'Squid Game' officially had the biggest Netflix original launch ever (

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From: J.F. Sebastian10/17/2021 10:12:03 AM
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Netflix's 'Squid Game' Will Generate $900 Million for Company: Report

  • "Squid Game" will generate just under $900 million in value for Netflix, internal documents show.

  • Bloomberg reported that the documents said the series was watched by a record 132 million people.

  • "Squid Game" cost around $2.4 million an episode, far less than "The Crown" and "Stranger Things."

Netflix's hugely popular TV show "Squid Game" will generate just shy of $900 million in value for the company, according to internal documents seen by Bloomberg.

The documents also revealed that "Squid Game" cost $21.4 million to produce. At around $2.4 million an episode, that's considerably cheaper than some of Netflix's other big shows.

"Squid Game" has become a global smash hit and Netflix's most-watched original show, with 132 million people watching at least two minutes. That far outstrips the previous record holder, Bridgerton, which was seen by 82 million people.

The South Korean TV show is about a brutal contest in which highly indebted people compete to win a huge cash prize. The contestants play a number of kids games — but get killed if they lose.

Internal Netflix documents seen by Bloomberg said the show generated $891 million in "impact value." That's the metric that Netflix, which operates a subscription model, uses to gauge the financial importance of shows. It suggests "Squid Game" will suck in a large number of subscribers.

At around $2.4 million an episode, Netflix is getting a very good return on its investment. "The Crown" and "Stranger Things" cost around $13 million and $12 million per episode, respectively.

The streaming giant thinks 89% of people who started "Squid Game" watched at least 75 minutes, according to Bloomberg. It thinks 66% of viewers — or 87 million people — finished the series in the first 23 days of it being online.

Netflix did not immediately respond to a request for comment. But an attorney representing the streaming service told Bloomberg: "??Netflix does not discuss these metrics outside the company."

Netflix reaped rewards from the pandemic in 2020, as people locked down in their homes binged on shows such as "Tiger King." But 2021 has been more difficult for the company as governments lifted restrictions and people have found other things to do than watch TV.

Yet, the financial markets have warmed to Netflix in recent weeks, largely due to the success of "Squid Game." Shares are up more than 6% over the last month. The company is due to report its third-quarter earnings on Tuesday.

"As always, the key number we'll be watching out is for subscriber growth," said Sophie Lund-Yates, equity analyst at broker Hargreaves Lansdown.

"The group's ability to pump out big-hitting content like 'Squid Game' may well be moving the dial on this front, but we do wonder what the reopening of the world will have meant for growth."


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From: Sr K10/19/2021 11:42:53 PM
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Netflix Reports Jump in Users, Calls ‘Squid Game’ Its Most Popular Show Ever

Streaming service adds roughly 4.4 million subscribers amid increased competition and the typical summer slowdown

A scene from the popular Netflix series ‘Squid Game,’ which Netflix says is the No. 1 program in 94 countries.PHOTO: YOUNGKYU PARK/NETFLIX/ASSOCIATED PRESS

Joe Flint
Kimberly Chin

Updated Oct. 19, 2021 7:20 pm ET


Netflix Inc. NFLX 0.16% added 4.4 million memberships in the third quarter, more than the company had forecast, as viewers flocked to the streaming platform with the return of popular series and new hits such as “ Squid Game.”

The new additions bring Netflix’s total paid global subscriber base to 213.6 million. The company had forecast that it would add 3.5 million memberships in the three-month period.

Typically, the summer months tend to be slower in regards to subscriber additions. In last year’s third quarter, Netflix added 2.2 million subscribers, just missing expectations. At that time, the company said the big gains in subscribers it had seen during the Covid-19 lockdown were beginning to wane.

In recent weeks, Netflix has benefited from the success of “Squid Game,” the South Korean dystopian drama that made its debut on Sept. 17 and quickly became a global phenomenon. The series has gone viral with social platforms like TikTok showing videos of people replicating the children’s games, while online retailers are rushing to sell “Squid Game” Halloween costumes.

In its letter to investors, Netflix said “Squid Game” has become its most popular show ever, with 142 million households sampling the title. It is the No. 1 program in 94 countries, it said.

Noting that “Squid Game” creator Hwang Dong-hyuk had tried for several years to get the show made before Netflix grabbed it, Co-Chief Executive and Chief Content Officer Ted Sarandos said, “Our team recognized something no one else did and created an environment for that creator to make a great show.”

Movies that performed well include “Sweet Girl” starring Jason Momoa and “The Kissing Booth 3,” the company said.

Netflix is also projecting a strong fourth quarter in terms of content with the return of the dark drama “You” and “Cobra Kai,” the popular series that is a sequel of sorts to the “Karate Kid” movie franchise. The major movies Netflix will drop in the coming months include “Red Notice” with Dwayne Johnson, Ryan Reynolds and Gal Gadot and the Leonardo DiCaprio and Jennifer Lawrence film “Don’t Look Up.”

“We have so much content coming in Q4 like we’ve never had,” said Netflix Chairman and Co-CEO Reed Hastings, who was sporting a “Squid Game” warm-up jacket during the company’s video call to discuss its results.

The Asia Pacific region was among the company’s strongest in terms of new members, responsible for half of the additions in the quarter, adding 2.2 million subscribers to the total tally.

Netflix is projecting a strong fourth quarter in terms of content with the return of the dark drama ‘You.’PHOTO: NETFLIX
In the U.S. and Canada, Netflix ended the third quarter with 74.02 million subscribers, an improvement of 73,000 from the end of the second quarter. Competition in the U.S. in particular has grown rapidly over the past few years as rivals including Walt Disney Co. DIS 0.02% ’s Disney+, AT&T Inc.’s T 1.03% HBOMax and Inc.’s AMZN -0.08% Prime Video continue to make inroads.

Netflix also said it would change how it discloses viewership information. It currently reports on the number of accounts that watched at least two minutes of a show. Going forward, it will instead pivot to hours viewed for its titles.

Netflix earlier this year said it would make its own videogames, part of an effort to expand into new revenue streams. The company said the games would be made for mobile devices, and some of them may feature characters from Netflix shows and movies. The games will be included at no extra cost to Netflix members.

“We’ve begun testing our games offering in select countries,” Netflix said in its shareholder letter. “It remains very early days for this initiative and, like other content categories we’ve expanded into, we plan to try different types of games, learn from our members and improve our game library.”

In the third quarter, Netflix acquired videogame company Night School Studio, whose products include “Oxenfree.” Netflix said the purchase will help it build its development capabilities.

Earlier this month, Netflix also teamed up with Walmart Inc. WMT 2.12% to create a digital storefront on the retailer’s website that will sell merchandise tied to hit shows such as “Stranger Things” and “Squid Game.” The deal with Walmart creates a dedicated area of for Netflix merchandise, the Netflix, marking the first such online storefront that Netflix has created with a national retailer.

Netflix has also expanded its exclusive content with the purchase of the Road Dahl catalog, adding popular titles such as “Charlie and the Chocolate Factory” and “Matilda” to its stable.

While Netflix is benefiting from the popularity of its programming, one of its new pieces of original content has created headaches internally.

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To: Sr K who wrote (2077)10/23/2021 10:59:23 PM
From: Sr K
   of 2122
A link two paragraphs from the bottom here,

is wrong

I search and Google corrected it to

Roald Dahl Story Company (RDSC)

That was a spellchecker error, and corrected here.

Message 33498007

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From: Glenn Petersen11/10/2021 2:52:59 AM
   of 2122
Good news for NFLX:

‘Squid Game’ Is Coming Back for Season Two, Creator Says

Hwang Dong-hyuk says there’s demand for another season following the show’s success; date isn’t yet set

By Joseph Pisani
Wall Street Journal
Nov. 9, 2021 6:16 pm ET

Netflix says ‘Squid Game’ is its most popular show ever. PHOTO: YOUNGKYU PARK/ASSOCIATED PRESS

A second season of Netflix Inc.’s NFLX 0.70% popular series, “Squid Game,” is in the works, according to the show’s creator.

Hwang Dong-hyuk, who wrote and directed the South Korean dystopian drama, told the Associated Press he’s planning a second season in his head, but that it was too early to say when it will come.

A Netflix spokeswoman said Tuesday that a second season is in discussions but hasn’t been confirmed yet.

“Squid Game,” whose premise revolves around financially broke adults playing deadly Korean children’s games in the hopes of a cash prize, has become a cultural phenomenon less than two months after its debut on the streaming service.

Netflix said the show is its most popular ever. TikTok videos of people replicating the children’s games have gone viral. The series has even helped boost sales of white slip-on shoes, like the ones worn on the show. It was also a source of inspiration for Halloween costumes around the world this year, though some school districts banned outfits related to the show, worrying about violent messages that they might portray.

Mr. Hwang said in the AP interview that there has been a lot of pressure and demand for a second season because of the show’s success.

Write to Joseph Pisani at

‘Squid Game’ Is Coming Back for Season Two, Creator Says - WSJ

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From: Sr K11/16/2021 5:32:35 PM
2 Recommendations   of 2122
WSJ today

Netflix Changes How It Ranks Its Most Popular Shows

Streaming service will release weekly top 10 of shows by total hours viewed, dropping much-criticized two-minute metric

‘Red Notice,’ starring Dwayne Johnson, was the most-watched film on Netflix from Nov. 8 to Nov. 14, with 148.7 million hours of viewing.PHOTO: NETFLIX/COURTESY EVERETT COLLECTION

Joe Flint

Nov. 16, 2021 3:00 pm ET

Netflix Inc. NFLX 1.19% is changing how it measures viewership of its content, a move that the streaming company said will provide more clarity when it comes to judging the popularity of programming on its platform.

Starting Tuesday, Netflix will now rank its titles by the total number of hours viewed, the company said. Previously, Netflix measured a program’s viewership based on the number of subscribers who watch at least two minutes of it, an approach that critics felt was too low a bar to measure the popularity of a program.

The streaming service also said it would release viewership data weekly. Such information used to be primarily released during Netflix’s quarterly earnings reports.

The move comes as a response to criticism that Netflix isn’t transparent enough with consumers, investors and its own producers when it comes to providing viewership information. Netflix has often said that because it doesn’t sell advertisements in its programming, it doesn’t need to be tied to the traditional measurement standards of commercial television.

With the streaming landscape becoming increasingly cluttered, Netflix is now competing for viewers and creative talent with deep-pocketed competitors including Walt Disney Co. , Apple Inc. and Inc.

Netflix said that between Nov. 8 and Nov. 14, its most-watched film was “Red Notice,” a movie starring Dwayne Johnson, Gal Gadot and Ryan Reynolds that garnered 148.7 million hours of viewing since Friday, when it was released on the streaming service. The most popular TV show that week was “Narcos: Mexico,” with 50.3 million hours viewed, Netflix said.

Netflix alluded to past criticism of its measurement metrics in a company blog post announcing the change written by Pablo Perez De Rosso, the company’s vice president of content strategy, planning and analysis.

‘Squid Game,’ released in September, was a huge hit for Netflix.PHOTO: WANG YILIANG/ZUMA PRESS
“Nonsense. BS. Cherry Picked. Unaudited. We’ve had a lot of feedback about our metrics over the years. So this summer, we went back to the drawing board,” Mr. Perez De Rosso wrote. The hours consumed approach, he said, will better reflect not only popularity, but also “overall member satisfaction, which is important for retention in subscription services.”

The company had telegraphed the change in its third-quarter letter to shareholders last month, when it said “engagement as measured by hours viewed is a slightly better indicator of the overall success of our titles and member satisfaction.”

The rankings will also be on the home page of Netflix, a move the streamer hopes will serve as a word-of-mouth form of promotion. Netflix said it has retained the accounting firm EY to review the new metrics and issue a report on their effect, which will be published next year.

What the new approach won’t include is how many subscribers watched a particular piece of content.

The two-minute methodology and its predecessor—which reported viewing of a title based on 70% consumption of a movie or an episode of a series—both provided the number of subscriber homes.

Netflix said it would publish four weekly global top-10 lists of films and TV in English and non-English languages ranked by hours viewing per-title. It will also release top-10 lists for more than 90 countries.

“This is an important step forward for Netflix, the creators we work with and our members,” Mr. Perez De Rosso wrote. “People want to understand what success means in a streaming world, and these lists offer the clearest answer to that question in our industry.”


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From: Sr K12/16/2021 9:55:46 AM
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Netflix Slashes India Prices in Battle with Amazon, Disney

Global streaming giant cuts monthly subscriptions to as low as $1.95 a month in quest for new users

A child watches a Netflix cartoon show on a mobile phone in New Delhi.PHOTO: SAJJAD HUSSAIN/AGENCE FRANCE-PRESSE/GETTY IMAGES

Newley Purnell Follow

Updated Dec. 16, 2021 6:42 am ET

Netflix Inc. NFLX -0.56% is slashing its prices in India, a key market for global growth where it trails cheaper rival streaming services from Amazon. com Inc. and Walt Disney Co.

The Los Gatos, Calif., company this week said in a blog post from India executive Monika Shergill that it is cutting its basic plan in India by 60% to 199 rupees, equivalent to $2.61, a month. Netflix also lowered prices on its least expensive plan, which offers mobile-only viewing, to $1.95 monthly. Its most expensive plan has been cut to $8.51.

Netflix has continued to switch up its strategy in the South Asian nation since launching in 2016, when it targeted the country’s more affluent consumers with plans that started at $7.50 a month.

The announcement didn’t provide a reason for the latest price reduction. A Netflix spokeswoman said the company is reducing its prices so more consumers can access its material in the country. She added that the company has been investing heavily in local content in India.

The move will help make Netflix more competitive in a country where its offerings have long been pricier than other streaming platforms, analysts say. Netflix and rivals have been pulling out all the stops to provide sports content and wide ranging material in local languages as they race for dominance in the world’s biggest untapped digital market.

Despite the price cuts, Netflix is still more expensive than competitors. Amazon Prime Video has an offering that costs $1.17 a month, and Disney+ Hotstar offers a plan for 55 cents monthly.

Netflix has some 5 million subscribers in India, according to data from consulting firm Media Partners Asia, far fewer than Amazon Prime Video’s 19 million and Disney+ Hotstar’s 46 million. The companies don’t disclose subscriber numbers by country.

Amazon and Disney+ Hotstar didn’t immediately respond to requests for comment.

Asked at a business conference in 2018 where Netflix will get new subscribers in the years to come, Chief Executive Reed Hastings said: “The next 100 million is from India.”

Netflix remains relatively niche in India compared with competing services, said Vivek Couto, executive director of Media Partners Asia.

Recognize This ‘Squid Game’ Voice? Behind Netflix’s Global Dubbing Strategy

0:00 / 6:50

Recognize This ‘Squid Game’ Voice? Behind Netflix’s Global Dubbing Strategy

More Netflix viewers watched dubbed versions of the South Korean drama “Squid Game” than subtitled versions. WSJ met one of the show’s English-language voice actors to see how dubbing foreign content is fueling the streaming giant’s growth. Photo Illustration: Sharon Shi
In addition to being more expensive, Netflix lags behind competing services in terms of offering local content in India, though it has been stepping up its efforts to provide more culturally relevant material, Mr. Couto said. He added that Netflix is the top streaming service in other Asia-Pacific markets such as Australia and South Korea—home of “Squid Game,” the company’s most popular show ever—and is successful in Japan.

Netflix in India has released more than 70 movies, documentaries, shows and comedy specials, and has more in store, said the company spokeswoman. It has 219 million subscribers globally, she said.

While Netflix has been slowly reducing its prices, Amazon Prime Video and Disney+ Hotstar started with lower launch prices and have been raising them slightly, according to Media Partners Asia analysis.

Netflix is facing increasing competition in the U.S. from the likes of Amazon, Disney, AT&T Inc.’s HBOMax and others, meaning India is key given its massive consumer base and room for growth.


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From: Glenn Petersen1/14/2022 5:15:18 PM
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Netflix raises monthly subscription prices in U.S., Canada

By Lisa Richwine
January 14, 2022

LOS ANGELES, Jan 14 (Reuters) - Netflix Inc has raised its monthly subscription price by $1 to $2 per month in the United States depending on the plan, the company said on Friday, to help pay for new programming to compete in the crowded streaming TV market.

The standard plan, which allows for two simultaneous streams, now costs $15.49 per month, up from $13.99, in the United States.

Prices also rose in Canada, where the standard plan climbed to C$16.49 from C$14.99.

Shares of Netflix gained nearly 3% to $533.84 on Nasdaq after Reuters broke the news of the price rises. They closed 1.3% higher at $525.69.

The increases, the first in those markets since October 2020, took effect immediately for new customers. Existing members will see the new prices in the coming weeks when they receive their monthly bills.

"We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members," a Netflix spokesperson said.

"We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget," the spokesperson added.

The world's largest streaming service is facing the most competition ever from companies looking to attract viewers to online entertainment. Walt Disney Co (DIS.N), AT&T Inc's (T.N) WarnerMedia, Inc and Apple Inc (AAPL.O) are among the rivals pouring billions into new programming.

Netflix has added customers despite prior price increases, which shows its members have been willing to accept higher costs, Evercore ISI analyst Mark Mahaney said.

"This is evidence that Netflix has pricing power," Mahaney said.

Netflix had said it would spend $17 billion on programming in 2021. The company has not disclosed spending for 2022.

The U.S. price of Netflix's premium plan, which enables four streams at a time and streaming in ultra HD, was increased by $2 to $19.99 per month. For Netflix's basic plan, with one stream, the cost rose by $1 to $9.99 per month.

In Canada, the premium plan rose by C$2 to C$20.99, and the basic plan was unchanged at C$9.99.

At $15.49 per month, the standard U.S. plan from Netflix now costs more than competitors. HBO Max, owned by AT&T Inc (T.N), is currently offering an $11.99-a-month promotion for 12 months.

The price of Walt Disney Co's (DIS.N) Disney+ is $7.99 a month or $79.99 a year.

The United States and Canada is Netflix's largest region with 74 million streaming customers as of September 2021. The region accounted for nearly 44% of the company's revenue in 2021's third quarter, or about $3.3 billion.

Most of the company's recent pickup in subscribers has come from overseas.

Netflix's subscriber growth slowed from a boom early in the COVID-19 pandemic but rebounded with help from global phenomenon "Squid Game," a dystopian thriller from South Korea released in September. Total global subscriptions reached 213.6 million.

The company's next subscriber report is due Thursday when Netflix posts quarterly earnings. Analysts project the company will report 8.5 million new sign-ups from October through December, according to Thomson Reuters I/B/E/S data, bringing its global subscriber base to 222 million.

Reporting by Lisa Richwine; Additional reporting by Dawn Chmielewski; Editing by Cynthia Osterman

Netflix raises monthly subscription prices in U.S., Canada | Reuters

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