Netflix is adding new subscribers at a torrid pace, as its password-sharing crackdown continues and as it makes moves that could push subscribers toward its nascent advertising tier.
The company reported 9 million new subscribers, with revenue of $8.5 billion and operating income of $1.7 billion. The company had reported 5.9 million new subscribers last quarter, thanks in part to its crackdown on sharing passwords.
Wall Street estimates for its Q3 had been for $8.5 billion in revenue, operating income of $1.9 billion, and net adds of 5.9 million subscribers.
Wall Street has taken a muted approach to the streaming giant since its blockbuster Q2 earnings report, as concerns about the Hollywood strikes and the slow development of the ad tier weighed on the company.
Netflix acknowledged the uncertainty in its quarterly shareholder letter.
“The last six months have been challenging for our industry given the combined writers and actors strikes in the US,” the letter said.
The company reported 9 million new subscribers, with revenue of $8.5 billion and operating income of $1.7 billion. The company had reported 5.9 million new subscribers last quarter, thanks in part to its crackdown on sharing passwords.
Wall Street estimates for its Q3 had been for $8.5 billion in revenue, operating income of $1.9 billion, and net adds of 5.9 million subscribers.
Wall Street has taken a muted approach to the streaming giant since its blockbuster Q2 earnings report, as concerns about the Hollywood strikes and the slow development of the ad tier weighed on the company.
Netflix acknowledged the uncertainty in its quarterly shareholder letter.
“The last six months have been challenging for our industry given the combined writers and actors strikes in the US,” the letter said.
- 10/18/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
What, you thought Netflix was going to stay out of this whole streaming price-hike trend? In this economy?
According to a new report by the Wall Street Journal, the streaming leader is waiting out the ongoing SAG-AFTRA strike before it increases the monthly rate for its ad-free users, which is most of us. Currently, Netflix’s most-popular (and least expensive) commercial-free plan (“Standard”) costs $15.49 per month. There’s also a higher-level tier (“Premium”) for $19.99/month.
While we do not yet know when the actors guild and the studios will agree on a new contract, the feeling and/or hope is it won’t be much longer now. After a nearly five-month writers strike finally came to terms with a tentative deal on September 24 (the WGA strike technically ended two days later), SAG-AFTRA met producers at the bargaining table on Monday. They are set to meet again on Wednesday.
According to a new report by the Wall Street Journal, the streaming leader is waiting out the ongoing SAG-AFTRA strike before it increases the monthly rate for its ad-free users, which is most of us. Currently, Netflix’s most-popular (and least expensive) commercial-free plan (“Standard”) costs $15.49 per month. There’s also a higher-level tier (“Premium”) for $19.99/month.
While we do not yet know when the actors guild and the studios will agree on a new contract, the feeling and/or hope is it won’t be much longer now. After a nearly five-month writers strike finally came to terms with a tentative deal on September 24 (the WGA strike technically ended two days later), SAG-AFTRA met producers at the bargaining table on Monday. They are set to meet again on Wednesday.
- 10/3/2023
- by Tony Maglio
- Indiewire
After spearheading Netflix’s entry into advertising last year, veteran exec Jeremi Gorman has exited the company.
Netflix exec Amy Reinhard has been promoted to president of advertising, replacing Gorman, who had come to the company last year after previous stints at Snap, Amazon and Yahoo.
In addition to the ad shuffle, Eunice Kim has been upped to Chief Product Officer and Elizabeth Stone to Chief Technology Officer. Stone joined the company in 2020 to lead data and insights, while Kim came aboard in 2021 after holding exec posts at Google and YouTube.
Netflix, which staged a virtual upfronts pitch last May, said at that time that its ad tier had reached 5 million subscribers globally. While that represents barely 2% of the company’s overall subscriber base of 238 million, it is a key strategic pillar as the streaming giant also implements paid password sharing as opposed to letting customers share passwords for free.
Netflix exec Amy Reinhard has been promoted to president of advertising, replacing Gorman, who had come to the company last year after previous stints at Snap, Amazon and Yahoo.
In addition to the ad shuffle, Eunice Kim has been upped to Chief Product Officer and Elizabeth Stone to Chief Technology Officer. Stone joined the company in 2020 to lead data and insights, while Kim came aboard in 2021 after holding exec posts at Google and YouTube.
Netflix, which staged a virtual upfronts pitch last May, said at that time that its ad tier had reached 5 million subscribers globally. While that represents barely 2% of the company’s overall subscriber base of 238 million, it is a key strategic pillar as the streaming giant also implements paid password sharing as opposed to letting customers share passwords for free.
- 10/3/2023
- by Dade Hayes
- Deadline Film + TV
After just more than a year at Netflix booting up the streamer’s ad business, Jeremi Gorman is leaving the company. Amy Reinhard, previously VP of studio operations, will succeed Gorman as president of advertising.
The change comes as Netflix announced two other notable C-suite appointments Tuesday, promoting Eunice Kim to chief product officer and Elizabeth Stone to Cto.
“I want to thank Jeremi for building our ads business from scratch. In just one year, she’s built the foundations we need to succeed — attracting world-class brands to Netflix and an incredible team,” Greg Peters, co-ceo of Netflix, said in a statement.
Gorman started at Netflix in September 2022, after almost four years as Snap’s chief business officer. She was tasked with building on the company’s work to launch its first ad-supported service as quickly as possible — and Netflix Basic With Ads launched in the U.S. (at $6.99/month) and 11 other countries in November.
The change comes as Netflix announced two other notable C-suite appointments Tuesday, promoting Eunice Kim to chief product officer and Elizabeth Stone to Cto.
“I want to thank Jeremi for building our ads business from scratch. In just one year, she’s built the foundations we need to succeed — attracting world-class brands to Netflix and an incredible team,” Greg Peters, co-ceo of Netflix, said in a statement.
Gorman started at Netflix in September 2022, after almost four years as Snap’s chief business officer. She was tasked with building on the company’s work to launch its first ad-supported service as quickly as possible — and Netflix Basic With Ads launched in the U.S. (at $6.99/month) and 11 other countries in November.
- 10/3/2023
- by Todd Spangler
- Variety Film + TV
Netflix has promoted longtime executive Amy Reinhard as the company’s new president of advertising, replacing current ad president Jeremi Gorman.
“In her nearly seven years at Netflix, Amy has proven to be an exceptionally strong leader with a deep understanding of the entertainment business and consumer tastes, as well as the ability to build lasting partnerships across the industry,” co-ceo Greg Peters said in a statement. “These skills, in particular her strength in TV and film, are critical for the success of our ads business.”
Reinhard joined Netflix in 2016 as the vice president of content acquisition. In that role, she led led global studio licensing for films and television series as well as local language acquisitions from Latin America, Europe, Africa, the Middle East and India. In 2020, she was named vice president of studio operations, where she has overseen physical production, production facilities management, consumer products and creative services,...
“In her nearly seven years at Netflix, Amy has proven to be an exceptionally strong leader with a deep understanding of the entertainment business and consumer tastes, as well as the ability to build lasting partnerships across the industry,” co-ceo Greg Peters said in a statement. “These skills, in particular her strength in TV and film, are critical for the success of our ads business.”
Reinhard joined Netflix in 2016 as the vice president of content acquisition. In that role, she led led global studio licensing for films and television series as well as local language acquisitions from Latin America, Europe, Africa, the Middle East and India. In 2020, she was named vice president of studio operations, where she has overseen physical production, production facilities management, consumer products and creative services,...
- 10/3/2023
- by Lucas Manfredi
- The Wrap
Netflix is making changes to its C-Suite, naming new executives to oversee its nascent advertising business, as well as its technology and product divisions.
For starters, Netflix says that Jeremi Gorman will be departing as its head of ad sales, after about a year leading its ads business. Amy Reinhard, a seven-year veteran of the company (most recently working as vp studio operations), will become president of advertising.
“In her nearly seven years at Netflix, Amy has proven to be an exceptionally strong leader — with a deep understanding of the entertainment business and consumer tastes as well as the ability to build lasting partnerships across the industry. These skills, in particular her strength in TV and film, are critical for the success of our ads business,” Netflix co-ceo Greg Peters said in a statement. “I want to thank Jeremi for building our ads business from scratch. In just one year,...
For starters, Netflix says that Jeremi Gorman will be departing as its head of ad sales, after about a year leading its ads business. Amy Reinhard, a seven-year veteran of the company (most recently working as vp studio operations), will become president of advertising.
“In her nearly seven years at Netflix, Amy has proven to be an exceptionally strong leader — with a deep understanding of the entertainment business and consumer tastes as well as the ability to build lasting partnerships across the industry. These skills, in particular her strength in TV and film, are critical for the success of our ads business,” Netflix co-ceo Greg Peters said in a statement. “I want to thank Jeremi for building our ads business from scratch. In just one year,...
- 10/3/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Netflix has made two significant appointments to its C-suite, elevating Eunice Kim to chief product officer and Elizabeth Stone to chief technology officer.
Kim will oversee all worldwide product efforts for the streamer, and Stone will manage its data and engineering teams.
“Elizabeth and Eunice have strong track records at Netflix and more broadly within the technology industry,” said Greg Peters, co-ceo of Netflix. “Together they will be leading a hugely important part of our service so I’m excited to see all the ways in which they can improve the Netflix experience — making it even easier for people to find the right movie, series, or game at the right moment.”
Kim joined Netflix in 2021 as head of the Consumer Product Innovation team. She previously spent 10 years in product leadership roles at Google Play and YouTube. Kim also served at several tech startups as well as PepsiCo and Adobe Systems.
Kim will oversee all worldwide product efforts for the streamer, and Stone will manage its data and engineering teams.
“Elizabeth and Eunice have strong track records at Netflix and more broadly within the technology industry,” said Greg Peters, co-ceo of Netflix. “Together they will be leading a hugely important part of our service so I’m excited to see all the ways in which they can improve the Netflix experience — making it even easier for people to find the right movie, series, or game at the right moment.”
Kim joined Netflix in 2021 as head of the Consumer Product Innovation team. She previously spent 10 years in product leadership roles at Google Play and YouTube. Kim also served at several tech startups as well as PepsiCo and Adobe Systems.
- 10/3/2023
- by Matt Donnelly
- Variety Film + TV
It’s no secret that everybody loves a bargain, so the PeopleStyle editors searched high and low for the best exclusive discounts for you to use this fall. Whether you’re shopping to liven up your seasonal wardrobe or just can’t resist an amazing deal, there’s bound to be some major deal you’ll want to take advantage of right now. See all the codes below, get shopping and enjoy.*
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- 8/14/2017
- by Brittany Burke
- PEOPLE.com
An apparently disgruntled New Jersey father leapt to his death on Monday with his two young children in his arms in what police have called an attempted murder-suicide — but the man’s social media posts show a different side of the once-doting dad.
“A hundred years from now it will not matter what my bank account was, the sort of how I lived in, or the kind of car I drove … but the world may be different because I was important in the life of a child,” John Spincken, 37, wrote of his oldest son in a November 2014 Facebook post.
Police...
“A hundred years from now it will not matter what my bank account was, the sort of how I lived in, or the kind of car I drove … but the world may be different because I was important in the life of a child,” John Spincken, 37, wrote of his oldest son in a November 2014 Facebook post.
Police...
- 10/26/2016
- by Char Adams
- PEOPLE.com
Authorities say it’s a “miracle” that two little boys survived a 100-foot fall Monday night from a New Jersey bridge that killed their apparently disgruntled father after he leapt from the structure with the children in his arms.
John Spincken, 37, was pronounced dead at the scene after he jumped from an overpass near the Wanaque River on Interstate 287 following an argument with his wife, police tell People.
But his children — ages 1 and 3 — survived the fall, a fact Pequannock police Capt. Christopher DePuyt says has left authorities a little stunned.
“They did make contact with some trees and foliage on the way to the ground,...
John Spincken, 37, was pronounced dead at the scene after he jumped from an overpass near the Wanaque River on Interstate 287 following an argument with his wife, police tell People.
But his children — ages 1 and 3 — survived the fall, a fact Pequannock police Capt. Christopher DePuyt says has left authorities a little stunned.
“They did make contact with some trees and foliage on the way to the ground,...
- 10/25/2016
- by Char Adams
- PEOPLE.com
Kerri Walsh has taken home two Olympic gold medals in beach volleyball with partner Misty May-Treanor.
But she has two even bigger accomplishments to her name: Sons Joseph Michael, 15 months, and Sundance Thomas, 3 months, with fellow volleyball star Casey Jennings.
In her final blog, Walsh, 32, wraps up her experience writing for you here at People Moms & Babies — and leaves you with a few of her favorite quotes about motherhood.
Joseph and Sundance – Courtesy Kerri Walsh
This is my last blog, ladies and gents. I want to thank you for checking in with me from week to week. I want to thank you for your kindness,...
But she has two even bigger accomplishments to her name: Sons Joseph Michael, 15 months, and Sundance Thomas, 3 months, with fellow volleyball star Casey Jennings.
In her final blog, Walsh, 32, wraps up her experience writing for you here at People Moms & Babies — and leaves you with a few of her favorite quotes about motherhood.
Joseph and Sundance – Courtesy Kerri Walsh
This is my last blog, ladies and gents. I want to thank you for checking in with me from week to week. I want to thank you for your kindness,...
- 9/14/2010
- by Sarah
- People - CelebrityBabies
There's no let-up for Hollywod's most controversial director – the sequel to Wall Street, a documentary about Hugo Chávez and his most ambitious and personal project to date, the secret history of America
Oliver Stone is a man's man. Of this I have no doubt before meeting him. Not just because of his status as a sort of latter-day Ernest Hemingway, an action man with a reputation for women and drugs who won the Purple Heart for bravery in Vietnam, and then an Oscar for reproducing his experiences on celluloid. But because the most compelling sequences from his latest film, a documentary called South of the Border, show him hanging out with Venezuela's president, Hugo Chávez, chewing the cud about politics and war, talking very much mano a mano.
It's an impression that's reinforced moments before I meet him in his Los Angeles office when the photographer appears and shows me...
Oliver Stone is a man's man. Of this I have no doubt before meeting him. Not just because of his status as a sort of latter-day Ernest Hemingway, an action man with a reputation for women and drugs who won the Purple Heart for bravery in Vietnam, and then an Oscar for reproducing his experiences on celluloid. But because the most compelling sequences from his latest film, a documentary called South of the Border, show him hanging out with Venezuela's president, Hugo Chávez, chewing the cud about politics and war, talking very much mano a mano.
It's an impression that's reinforced moments before I meet him in his Los Angeles office when the photographer appears and shows me...
- 7/21/2010
- by Carole Cadwalladr
- The Guardian - Film News
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