
<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Two unnamed players from Netflix’s “Squid Game: The Challenge” are threatening to sue the streaming giant and the game show’s producers over claims they experienced hypothermia and nerve damage while shooting the show, according to&nbsp;<a href="https://deadline.com/2023/11/squid-game-the-challenge-contestants-threaten-injury-lawsuit-1235635675/" target="_blank" rel="noreferrer noopener">Deadline</a>, which cited British personal injuries firm Express Solicitors.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Express Solicitors said in a statement the contestants are seeking compensation for the alleged injuries suffered while filming in the U.K. early this year.</p>



<p>The injuries were allegedly sustained while the contestants played the “Red Light, Green Light” game, which tasks players with crossing a field of play and having to suddenly stop their advances anytime an announcer says “red light.”</p>



<p>Express Solicitors told Deadline the contestants were left with injuries “after spending time being stuck in painful stress positions in cold temperatures.”</p>



<p>The lawsuit threat comes several months after Netflix acknowledged that three players required medical attention while filming at a former Royal Air Force base in Bedford.</p>



<p>A spokesperson for the show confirmed to Deadline that no lawsuit has been filed by any of the contestants.</p>



<p>Express Solicitors did not immediately respond to Forbes’ request for comment.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$4.56 million. That’s the cash prize for the show, which currently has five out of 10 episodes out on Netflix and will be won by one of its 456 contestants.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“We have sent letters of claim on behalf of contestants injured in this show,” Daniel Slade, chief executive officer at Express Solicitors, said in&nbsp;<a href="https://www.expresssolicitors.co.uk/blog/express-solicitors-in-the-news#news1" target="_blank" rel="noreferrer noopener">a statement</a>. “From what we’ve been told they pushed the boundaries of safety in the name of entertainment.”</p>



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<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The show’s contestants called out the show this year in an interview with&nbsp;<a href="https://variety.com/2023/tv/global/netflix-squid-game-reality-show-frozen-inhumane-welfare-1235511809/" target="_blank" rel="noreferrer noopener">Variety</a>, saying the shooting conditions were “absolutely inhumane and had nothing to do with the game.” Contestants weren’t paid to participate in the show and were reportedly told the shoot would take about two hours to complete, though some players participated for nearly seven hours. The shoot also took place during a cold snap in the U.K., when temperatures dropped to 32 degrees fahrenheit and contestants collapsed, according to Variety, which reported cold and fatigue had hit players who dealt with eight hours of prep time before the game started. The game show is based on the South Korean dystopian drama, Squid Game, which raked in&nbsp;<a href="https://www.cnet.com/culture/entertainment/netflix-squid-game-is-even-bigger-than-you-thought-2-billion-hours-big/" target="_blank" rel="noreferrer noopener">more than 1.5 billion&nbsp;</a>of streaming hours from users and became one of Netflix’s most popular shows of all time.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://deadline.com/2023/11/squid-game-the-challenge-contestants-threaten-injury-lawsuit-1235635675/" target="_blank" rel="noreferrer noopener">‘Squid Game: The Challenge’ Contestants Threaten Lawsuit After Claiming They Suffered Hypothermia &amp; Nerve Damage During Filming</a>&nbsp;(Deadline)</p>



<p><a href="https://variety.com/2023/tv/global/netflix-squid-game-reality-show-frozen-inhumane-welfare-1235511809/" target="_blank" rel="noreferrer noopener">Inside Netflix’s ‘Squid Game’ Reality Show Disaster: ‘The Conditions Were Absolutely Inhumane’</a> (Variety)</p>


Opening Of Gamescom In Cologne

‘Squid Game: The Challenge’ Players Threaten Netflix With Lawsuit Over Alleged Injuries


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Shares for Netflix rose by over 15% on Thursday, the largest single-day gain for the firm in nearly three years, after the streaming service reported growth that exceeded analyst expectations, and price increases.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Netflix shares rose by 15.92% to $401.30 as of Thursday morning, following a more than&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/10/18/netflix-earnings-subscribers-swell-to-record-247-million-as-stock-soars/?sh=5f4a761f64df">10% jump</a>&nbsp;to over $390 after the company released its third-quarter earnings report on Wednesday.</p>



<p>This is the largest single-day gain for Netflix since January 20, 2021, when shares rose by 16.86% to $586.34 after the company&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2020/q4/FINAL-Q420-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;it had eclipsed the 200 million subscriber mark and announced it was considered stock buybacks.</p>



<p>Netflix added $8.54 billion in revenue and nine million net paid subscribers through a three-month period ending September 30, matching and exceeding estimates of $8.54 billion and 6.08 million, respectively.</p>



<p>A letter to shareholders on Wednesday also indicated Netflix was raising the price of its basic and premium plans to $11.99 and $22.99, up $3 and $2, respectively, as part of an effort to be competitive with other streaming services, including Amazon Prime Video, Disney+ and Paramount+.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>247.2 million. That’s how many global paid subscribers Netflix has, according to its latest earnings report.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



<p>Prior to the nearly 17% single-day gain for Netflix in 2021, the previous high for the streaming firm was a gain of 16.8% on October 18, 2016. The increase followed an announcement from Wells Fargo, which upgraded its price target for Netflix shares to $700 per share, up from $510, adding to similar announcements from other analysts, according to&nbsp;<a href="https://www.cnbc.com/2021/01/20/netflix-stock-soars-13percent-on-subscriber-growth-and-possible-buybacks.html" target="_blank" rel="noreferrer noopener">CNBC</a>.</p>



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<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Netflix reported earnings up to $3.73 a share on Wednesday, as chief executive Greg Peters said the firm was “incredibly pleased” with its recent growth, according to&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-10-18/netflix-will-raise-prices-after-best-subscriber-growth-in-years?utm_content=business&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_medium=social" target="_blank" rel="noreferrer noopener">Bloomberg</a>. Shares for the company have jumped by nearly 36% this year, and by just over 47% since October 2022. The stock crashed about 75% in the first half of 2022, after Netflix&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/19/netflix-shares-plunge-over-20-after-company-says-it-lost-subscribers-for-the-first-time-in-10-years/?sh=77df0caa1650">reported</a>&nbsp;its first loss of subscribers in a decade. Netflix has continued to report subscriber growth, after announcing a crackdown on password sharing and a cheaper subscription tier that includes ads. The company also added a paid sharing option—requiring users to pay extra for accounts they share with others—that was called a “primary revenue accelerator in the year” by chief financial officer Spencer Neumann.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/antoniopequenoiv/2023/10/18/netflix-hikes-prices-for-some-plans-as-subscriber-numbers-surge/?sh=73f2ded756e0">Netflix Hikes Prices For Some Plans As Subscriber Numbers Surge</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/dereksaul/2023/10/18/netflix-earnings-subscribers-swell-to-record-247-million-as-stock-soars/?sh=5f4a761f64df">Netflix Earnings: Subscribers Swell To Record 247 Million As Stock Soars</a> (<em>Forbes</em>)</p>


In this photo illustration the Netflix logo seen displayed

Netflix Shares Surge 15% After Subscriber Growth—Largest Single-Day Gain Since 2021


<p>A new deal between Hollywood studios and writers will for the first time require streamers like Netflix, Hulu and Disney+ to report viewership numbers of original and syndicated content, shining a light on what experts have called a “black hole” of information that has allowed companies to largely avoid justifying in-house programming decisions.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>A&nbsp;<a href="https://www.forbes.com/sites/anafaguy/2023/09/27/hollywood-writers-strike-ends-deal-finalized-after-148-day-work-stoppage/?sh=e88fb758cbf3">new contract</a>&nbsp;negotiated between the Writers Guild of America union, which ended its 148-day strike on Wednesday, and the Alliance of Motion Picture and Television Producers will force services to report to the union how many hours a show has been streamed domestically and across the world, a first for a collection of streaming companies that have historically kept a dark veil over the information.</p>



<p>Apple TV+, Amazon Prime Video, Disney+, Paramount+, Netflix, Hulu and HBOMax are among the companies that have shared what the&nbsp;<em>Verge&nbsp;</em><a href="https://www.theverge.com/2023/9/26/23891835/wga-contract-summary-ai-streaming-data" target="_blank" rel="noreferrer noopener">called&nbsp;</a>“weird metrics or meaningless self-referential rankings” instead of the actual viewership data available for broadcast networks and cable channels like ABC, NBC, CBS, ESPN, Fox News, CNN and others.</p>



<p>The data was a sticking point in the tense union negotiations as writers called for measurable performance metrics that could be translated into residuals—long-term payments sent when their show or movies rerun or are purchased—for union members who work on hit shows.</p>



<p>Writers have for decades been paid every time their show or movie is re-aired on its original network or on cable television, or when someone buys a DVD, but that stopped on on-demand streaming platforms, and writers who’ve had network shows become popular on streaming services complain they have not been adequately compensated for its secondary success on those platforms.</p>



<p>It’s possible the numbers studios provide will be subject to nondisclosure agreements and therefore not released to the public, but the WGA may still be able to release aggregated data.</p>



<p>Representatives for WGA, Netflix and Hulu did not immediately respond to&nbsp;<em>Forbes’&nbsp;</em>request for comment Wednesday.</p>



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<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>Not knowing the numbers is “very frustrating,”&nbsp;<a href="https://www.latimes.com/entertainment-arts/business/story/2023-09-14/wga-writers-strike-sag-aftra-actors-strike-netflix-ratings-data-transparency?_gl=1*ywpsu6*_gcl_au*MTQ5MzQ4MjQ4OS4xNjk1ODIwNzQ4" target="_blank" rel="noreferrer noopener">said&nbsp;</a>Gloria Calderón Kellett, the co-showrunner for Netflix’s reboot of&nbsp;<em>One Day at a Time</em>, which was canceled. “Because you just don’t know what you don’t know. You are in this black hole.”</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Historically, a lack of data has led to a lack of accountability for streamers when it comes to making programming decisions. Without viewership information, Nexflix and other companies have been allowed to make decisions on canceling and renewing projects without any transparency, and they can claim a project has or hasn’t been successful on a whim. Viewers have expressed discontent about the cancellation of shows that seemed to do well in the public eye—like&nbsp;<em>Daredevil, Warrior Nun, The OA&nbsp;</em>and&nbsp;<em>Inside Job</em>—only to be shut down by the streamer. It has also shielded companies from having to admit when a high-budget show flops. Netflix CEOs Ted Sarandos and Greg Peters told Bloomberg earlier this year that the streamer has “never canceled a successful show.” Netflix is slightly more transparent than its competitors, it does provide a weekly top-10&nbsp;<a href="https://www.netflix.com/tudum/top10/" target="_blank" rel="noreferrer noopener">breakdown&nbsp;</a>of the top movies and shows by country, but it only covers the most popular programs and provides no indication as to what isn’t doing well. Others, like Disney+, will on occasion release how many people watched a popular show’s premiere or finale but not in any kind of context to other services or shows on the same platform. Nielsen, the media data company that tracks viewership behavior, provides a top-10 list of streaming platform ratings based on the devices people use to stream (think smart TVs or video game consoles).</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>15.2 million. That&#8217;s how many views Netflix says its original film<em>&nbsp;Love At First Sight</em>, the most-watched English movie of the week, got between September 18 and September 24.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Sharing streaming data with the public could put publicly traded companies like Netflix, Disney and Paramount in the hot seat when it comes to their shareholders. Michael Smith, a professor of information technology and marketing at Carnegie Mellon University, told&nbsp;<em>Forbes&nbsp;</em>he doesn’t think sharing the data privately with the WGA will have a dramatic impact on how stocks perform, but that they could be impacted if the world knows an expensive project ultimately flopped. Measuring the performance of a streaming company now is largely based on revenues, costs and an aggregate number of subscribers (which not all streaming services have made public), Smith said, but streamers have fought tooth and nail against revealing streaming data because of a potential impact to share prices. He added that streamers differ from traditional broadcast channels that rely on viewership numbers to sell ad space, while platforms like Hulu have more flexibility in their advertising options. “I think this is the most interesting part of the (WGA) deal,” Smith said.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/anafaguy/2023/09/27/hollywood-writers-strike-ends-deal-finalized-after-148-day-work-stoppage/">Hollywood Writers Strike Ends: Deal Finalized After 148 Days Of Work Stoppage</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/daniellechemtob/2023/09/26/forbes-daily-another-strike-on-the-horizon-as-sag-aftra-authorizes-second-walkout/">Another Strike On The Horizon As SAG-AFTRA Authorizes Second Walkout</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/maryroeloffs/2023/09/26/swifties-take-nfl-ratings-soared-for-chiefs-game-as-taylor-swift-cheered-on-travis-kelce/">Swifties Take NFL: Ratings Soared For Chiefs Game As Taylor Swift Cheered On Travis Kelce</a>&nbsp;(<em>Forbes</em>)</p>


Stay at home and watch TV

What’s Really The Most-Watched Netflix Show? Hollywood Writers’ Deal Could Bring Streaming Data To Light


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Netflix users in the U.S. will no longer be able to share accounts with others who don’t live with them, the company&nbsp;<a href="https://about.netflix.com/en/news/update-on-sharing-may-us" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Tuesday, after the same password crackdown was instituted in four other countries earlier this year.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Netflix&nbsp;<a href="https://about.netflix.com/en/news/update-on-sharing-may-us" target="_blank" rel="noreferrer noopener">told</a>&nbsp;U.S. users an “account is for use by one household,” urging subscribers to sign out their accounts on devices that “shouldn’t” have access to the user’s account, and set a primary location for the account.</p>



<p>Netflix users who want to share their account with someone outside their household can either pay $7.99 for a “sub account” or they can transfer a profile to a new membership that someone else pays for—a move that would allow users to keep their watch history and saved list.</p>



<p>Users will still be able to watch Netflix from their personal devices or log into new TVs at hotels or other locations, the company&nbsp;<a href="https://about.netflix.com/en/news/update-on-sharing-may-us" target="_blank" rel="noreferrer noopener">said</a>.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Earlier this year, Netflix&nbsp;<a href="https://about.netflix.com/en/news/an-update-on-sharing" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;it was instituting password-sharing restrictions in Canada, New Zealand, Portugal and Spain. At the time, Netflix said similar measures would be coming to the U.S. in the coming months. Netflix began testing paid sharing, with the same restrictions U.S. users will now face, in its Latin America market last year. Netflix is one of the first major streaming services to start cracking down on password sharing, in a move likely prompted by&nbsp;<a href="https://www.forbes.com/sites/marisadellatto/2022/08/09/netflix-loses-subscribers-as-disney-catches-up-heres-how-the-major-streaming-services-are-faring-so-far-this-year/?sh=2f446c22a1c4">last year’s</a>&nbsp;loss of subscribers and the need for additional revenue.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p><strong>100 million.</strong>&nbsp;As of February, that’s how many households share their passwords, Netflix&nbsp;<a href="https://about.netflix.com/en/news/an-update-on-sharing" target="_blank" rel="noreferrer noopener">said</a>.</p>



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<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/anafaguy/2023/02/08/netflix-password-crack-down-begins-in-canada-new-zealand-portugal-spain/?sh=3ff300a22f34">Netflix Password Crack Down Begins In Canada, New Zealand, Portugal, Spain</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/anthonytellez/2023/02/02/netflixs-password-sharing-crackdown-and-what-amazon-prime-hulu-others-are-doing-explained/?sh=61031c7d56ea">Netflix’s Password Sharing Crackdown—And What Amazon Prime, Hulu, Others Are Doing—Explained</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/08/09/netflix-loses-subscribers-as-disney-catches-up-heres-how-the-major-streaming-services-are-faring-so-far-this-year/?sh=2f446c22a1c4">Netflix Loses Subscribers As Disney+ Catches Up: Here’s How The Major Streaming Services Are Faring So Far This Year</a>&nbsp;(Forbes)</p>



<p><em>CORRECTION (5/23): This story has been updated to clarify that Netflix users will not have to set a primary location and to clarify that users will not need one-time access codes to log into Netflix from other locations.</em></p>


Netflix Starts Long-Awaited Password-Sharing Crackdown—Here’s How


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Netflix gained 2.4 million new paid subscribers in the third quarter of this year, the company said in an&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2022/q3/FINAL-Q3-22-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">earnings report</a>&nbsp;Tuesday, a reversal for the streamer after reporting losses for the first time in 10 years over the last two consecutive quarters.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Netflix reported 223.09 million subscribers, up from the 220.67 million it reported in July and 213.56 million in the third quarter of last year.</p>



<p>The streaming service beat its&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2022/q2/FINAL-Q2-22-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">own forecast</a>&nbsp;of 221.67 subscribers.</p>



<p>Netflix predicted it will continue to grow its subscriber base and add 4.5 million paid users by the end of the fourth quarter.</p>



<p>The company generated $1.4 billion in net income in the third quarter, down nearly 4% from a year ago, and revenue grew 5.9% to $7.9 billion, both of which&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2022/q2/FINAL-Q2-22-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">beat the company’s forecasts</a>.&nbsp;</p>



<p>Much of the growth came from the Asia-Pacific region, where 1.4 million paid memberships were added in the third quarter.&nbsp;</p>



<p>Netflix’s share price jumped more than 12% in after-hours trading Tuesday and stood at $275.40 as of 8 p.m., after closing at $240.86.</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>In November, Netflix plans to launch a cheaper ad-supported tier, the first time ads will be coming to the streaming service. Amid tight competition for viewers attention, Disney+ is also launching an ad-supported tier in December. When HBO Max and Discovery+&nbsp;<a href="https://www.forbes.com/sites/marisadellatto/2022/08/04/hbo-max-and-discovery-will-combine-into-one-streaming-service/?sh=d604f3319312">combine</a>&nbsp;into one streaming service next year, a free ad-supported tier will be offered.</p>



<h2 class="wp-block-heading">KEY BACKGROUND&nbsp;</h2>



<p>In April, Netflix reported its first subscriber loss in a decade, losing 200,000 subscribers. The company&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2022/q1/FINAL-Q1-22-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">blamed</a>&nbsp;the suspension of its service in Russia amid the country’s conflict with Ukraine, as well as competition with other streaming services and the “large number of households” that share accounts with each other. It suffered another loss of 970,000 subscribers in July. Netflix has since said it is exploring ways to monetize people who share one account and crack down on password-sharing, and launched a “profile transfer” feature this week that allows a user to move their data between accounts. Roughly 450 Netflix staffers&nbsp;<a href="https://www.nytimes.com/2022/06/23/business/media/netflix-layoffs.html" target="_blank" rel="noreferrer noopener">were laid off</a>&nbsp;this year. Netflix credited its third-quarter subscriber boost to programming, including the release of the fourth season of&nbsp;<em>Stranger Things</em>&nbsp;and&nbsp;<em>Monster: The Jeffrey Dahmer Story</em>.&nbsp;</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>In the third quarter, Netflix produced 1,024 episodes of original TV content, according to a report published last week by research firm MoffettNathanson. That’s a record for the company, and five times that of any other streaming service, the report said. Nearly 160 original shows were launched on the platform during that time period.&nbsp;</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/10/13/netflixs-cheaper-ad-supported-tier-launching-november-3/?sh=2433f53d47db">Netflix’s Cheaper Ad-Supported Tier Launching November 3</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/carlieporterfield/2022/10/12/netflix-produced-a-record-1024-original-television-episodes-this-quarter/?sh=41d8786437f9">Netflix Produced A Record 1,024 Original Television Episodes This Quarter</a>&nbsp;(Forbes)</p>



<p><strong><em>By Marisa Dellatto, Forbes Staff</em></strong></p>


Netflix Adds 2.4 Million Subscribers After Months Of Declines


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>As streaming services continue to battle for the attention—and wallets—of viewers, subscriber numbers have changed over the last few months, with Netflix on a decline for the first time in a decade as Disney+ continues to grow and HBO Max and Discovery+ prepare to merge.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Netflix remains the leader of the pack, with 220.67 million global subscribers as of June according to earnings reports, but as competition with newer platforms becomes tighter, it&#8217;s also one of the only streaming services to lose paid subscribers, falling by almost 1 million subscribers since March and nearly 1.2 million since December.&nbsp;</p>



<p>Disney’s bundle of streaming services—including Disney+, Hulu and ESPN+—rose from 196.4 million subscribers in January to 205.6 million in April, the company reported, making it a real competitor to Netflix, but Disney+ pulls most of the weight, with 137.7 million subscribers in April (up 7.9 million from January) compared to Hulu&#8217;s 45.6 million (up roughly 300,000 in three months).</p>



<p>HBO, HBO Max and Discovery+—all of which have been owned by Warner Bros. Discovery since April—counted a combined 92.1 million subscribers in June, up just 1.7 million from March, the company says (it’s unclear how plans to merge the streaming services together into one platform will affect subscriber numbers).&nbsp;</p>



<p>Paramount+, owned by CBS’ owner Paramount Global, reported just 43 million subscribers in June—but the streamer has gained over 10 million since December.</p>



<p>Peacock, NBCUniversal parent Comcast’s streaming network, had 13 million paid subscribers as of last month, roughly the same amount that Comcast reported in April, and 27 million active monthly accounts—unlike some of the other streaming platforms, it offers a free version of its service with select programs and movies.</p>



<h2 class="wp-block-heading">KEY BACKGROUND&nbsp;</h2>



<p>2022 has been a tumultuous year for streaming services, as media companies&nbsp;<a href="https://www.forbes.com/sites/elanagross/2020/10/12/disney-reorganizes-to-prioritize-streaming/?sh=59da0776ab09">increasingly</a>&nbsp;<a href="https://www.forbes.com/sites/dbloom/2022/02/16/rebranded-paramount-global-focuses-on-streaming-future-with-huge-array-of-announcements/?sh=2feb09b2203e">prioritize</a>&nbsp;streaming platforms instead of traditional television. Warner Bros. Discovery, which was formed after Discovery and AT&amp;T’s former subsidiary WarnerMedia merged in April, announced plans last week to integrate HBO Max and Discovery+ into a single service next summer. The company also shut down news streaming service CNN+ just one month after it launched, amid a push to control costs and a&nbsp;<a href="https://www.nytimes.com/2022/04/24/business/media/cnn-plus-discovery-warner.html" target="_blank" rel="noreferrer noopener">belief</a>&nbsp;that niche streaming platforms tend to fare worse than more all-encompassing services. More changes are to come: After Netflix suffered its first subscriber losses in over a decade earlier this year, the company said it would launch a cheaper ad-supported tier and cut down on password sharing, which it blamed for some of the deficit. The company shut down service in Russia after the country invaded Ukraine, resulting in a loss of 700,000 subscribers.</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>A&nbsp;<a href="https://www.forbes.com/sites/marisadellatto/2022/04/06/streaming-viewers-feel-overwhelmed-by-options-nielsen-survey-suggests/?sh=7676f543705f">survey from Nielsen</a>&nbsp;released earlier this year found that there are more titles than ever available to stream, and the time Americans spend watching streaming content each week is on the rise. Still, 64% of respondents said they wish there was a streaming service bundle, and 46% said it’s hard to find the programs they want to watch because there are too many streaming services.&nbsp;</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/08/04/hbo-max-and-discovery-will-combine-into-one-streaming-service/?sh=5747ddd71931">HBO Max And Discovery+ Will Combine Into One Streaming Service</a>(Forbes)&nbsp;</p>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/08/04/discovery-and-hbo-max-swap-content-as-warner-bros-discovery-reportedly-plans-to-restructure/?sh=62747fb2313e">Discovery+ And HBO Max Swap Content As Warner Bros. Discovery Reportedly Plans To Restructure</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/04/21/cnn-will-reportedly-shut-down-after-only-one-month-of-service/?sh=721b85b865bb">CNN+ Will Shut Down After Only One Month Of Service</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/marisadellatto/2022/04/06/streaming-viewers-feel-overwhelmed-by-options-nielsen-survey-suggests/?sh=7676f543705f">Streaming Viewers Feel Overwhelmed By Options, Nielsen Survey Suggests</a>(Forbes)</p>



<p><strong><em>By Marisa Dellatto, Forbes Staff</em></strong></p>


Watching Netflix On iPad

Netflix Loses Subscribers As Disney+ Catches Up: Here’s How The Major Streaming Services Are Faring So Far This Year


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Shares of Netflix surged after the closing bell Tuesday despite the streaming giant’s disclosure in its second-quarter earnings report that it lost subscribers for a second quarter in a row, as the total was lower than investors had feared—with the company optimistic about adding back subscribers later in the year.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Netflix’s stock jumped nearly 7% to around $215 per share in after-hours trading, with investors cheering the better-than-expected second-quarter&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2022/q2/FINAL-Q2-22-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">earnings report</a>.</p>



<p>The streaming giant reported that it lost 970,000 subscribers in the latest quarter—significantly less than the company’s previous forecast of losing 2 million subscribers—and management remains optimistic about adding back customers later in the year.</p>



<p>Analyst estimates for Netflix’s second-quarter subscriber loss had ranged from as much as 4 million subscribers to as little as 1.5 million, with some analysts citing the strong performance of season four of&nbsp;<em>Stranger Things</em>, which was Netflix’s most watched English-language show yet.</p>



<p>Investors were hoping for an improvement after a dismal first quarter, when Netflix reported its first subscriber loss in more than a decade (losing 200,000 customers) and shares&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/19/netflix-shares-plunge-over-20-after-company-says-it-lost-subscribers-for-the-first-time-in-10-years/?sh=6c6311101650">plunged 35%</a>&nbsp;in one day.</p>



<p>Netflix reported mixed financial results for the second quarter: Earnings came in above Wall Street expectations, though revenue was weaker-than-expected at $7.97 billion versus a consensus analyst forecast of $8.04 billion, according to Refinitiv.</p>



<p>In order to offset recent slowdowns, Netflix is looking to introduce a cheaper ad-supported subscription plan, announcing last week that it will be partnering with Microsoft in order to do so—but Netflix COO Greg Peters said that the project is still in “very early days.”</p>



<h2 class="wp-block-heading">CRUCIAL QUOTE:</h2>



<p>“There’s very little not to like,” says Charles Lemonides, founder and chief investment officer of ValueWorks. “These results read like the negative news was just a tiny blip in the long-term growth story.” He remains highly bullish on the company, which he argues is still the “strongest streaming platform with the greatest ability to spend dollars on creating new content—and that’s a tough position to compete with.”</p>



<h2 class="wp-block-heading">KEY BACKGROUND:</h2>



<p>Netflix’s stock has cratered roughly 70% this year. Like other tech stocks, Netflix shares were especially hard-hit by concerns over surging inflation and rising rates, but a significant portion of the company’s recent struggles have revolved around slowing subscriber growth, which has spooked investors. Netflix&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/19/netflix-shares-plunge-over-20-after-company-says-it-lost-subscribers-for-the-first-time-in-10-years/?sh=6c6311101650">lost 200,000 subscribers</a>&nbsp;globally in the previous quarter—far below the 2.7 million additions expected, which prompted a&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/20/netflix-stock-crash-growth-story-is-dunzo-for-now-as-analysts-slash-outlooks/?sh=249317dd5187">wave of downgrades</a>&nbsp;from Wall Street analysts at the time.&nbsp;</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR:</h2>



<p>“While a meaningful 2Q or 3Q subscriber beat or miss might temporarily move Netflix shares post-earnings, we expect shares will revert to their trading range as visibility will remain low and the company’s pivot to advertising does not even begin in earnest until late 2022,” Credit Suisse analyst Douglas Mitchelson wrote on Tuesday.</p>



<h2 class="wp-block-heading">FURTHER READING:</h2>



<p><a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/19/netflix-shares-plunge-over-20-after-company-says-it-lost-subscribers-for-the-first-time-in-10-years/?sh=3bad91591650">Netflix Loses Subscribers For The First Time In Ten Years, Shares Plunge 35%</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/sergeiklebnikov/2022/04/20/netflix-stock-crash-growth-story-is-dunzo-for-now-as-analysts-slash-outlooks/?sh=4629f9e45187">Netflix Stock Crash: Growth Story Is &#8216;Dunzo For Now&#8217; As Analysts Slash Outlooks</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/annakaplan/2022/07/13/netflix-partners-with-microsoft-for-ad-supported-service-amid-subscriber-losses/?sh=5825950b7ee9">Netflix Partners With Microsoft For Ad-Supported Service Amid Subscriber Losses</a> (<em>Forbes</em>)</p>



<p><strong><em>By Sergei Klebnikov, Forbes Staff</em></strong></p>


Netflix Shares Jump Over 6% After It Reports Smaller Subscriber Loss Than Forecast

Russia And Technology Companies Photo Illustrations

Netflix, TikTok, Major Accounting Firms Suspend Service—Here’s The List Of Companies Cutting Ties With Russia Over Invasion


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>In the latest example of Netflix quickly pouncing on a true-crime tale, the company said Friday it had ordered a docuseries on alleged cryptocurrency launderers Ilya “Dutch” Lichtenstein and Heather Morgan—who only came to public attention with their arrest Tuesday.&nbsp;</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2021/10/GettyImages-1231249886.jpg" alt="" class="wp-image-52704" srcset="https://cms.forbesafrica.com/wp-content/uploads/2021/10/GettyImages-1231249886.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2021/10/GettyImages-1231249886-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2021/10/GettyImages-1231249886-768x512.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>BRAZIL &#8211; 2021/02/18: In this photo illustration the Netflix logo seen displayed on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



<h2 class="wp-block-heading" id="key-facts">KEY FACTS</h2>



<p>Lichtenstein and Morgan–the latter of whom has attracted attention as much for her awkward rap videos as their alleged crimes– have been accused by federal prosecutors of attempting to launder $4.5 billion in bitcoin, $3.6 billion of which was recovered in what the Department of Justice says was its largest financial seizure ever.&nbsp;</p>



<p>While Netflix and other streaming services have been churning out more ripped-from-the-headlines “insta-docs” and reality content for years, the pandemic gave the trend&nbsp;<a href="https://www.hollywoodreporter.com/tv/tv-news/coronavirus-tiger-king-reality-producers-double-down-docuseries-1288063/" target="_blank" rel="noreferrer noopener">more impetus</a>: viewers were stuck at home with nothing to do but watch TV and producers could make use of archival footage instead of risking their health to shoot something new.&nbsp;</p>



<p>Last week Netflix put out&nbsp;<em>The Tinder Swindler</em>, a documentary about a man who was arrested in 2015 for allegedly defrauding women he met on dating apps of money, and this month will also release documentaries about Bubba Wallace’s 2021 NASCAR season and the 2018 and 2019 Boeing Max 737 crashes.&nbsp;</p>



<p>Friday the scripted series&nbsp;<em>Inventing Anna</em>&nbsp;premiered on Netflix, Shonda Rhimes’ fictional take on the real story of Anna Sorokin, a woman who pretended to be a Germain heiress and was&nbsp;<a href="https://www.cnn.com/2019/04/25/us/anna-sorokin-found-guilty/index.html" target="_blank" rel="noreferrer noopener">found guilty</a>&nbsp;in 2019 of stealing over $200,000 from banks and people she socialized with.</p>



<p>Last year, several documentaries were released about recent scandals, including the downfall of WeWork, the college admissions scandal, and Rudy Giuliani’s Four Seasons and Total Landscaping post-election mistake.&nbsp;</p>



<p>The Crypto Couple docuseries will be directed and executive produced by Chris Smith, who was behind Netflix true-crime hits&nbsp;<em>Fyre: The Greatest Party That Never Happened</em>&nbsp;and&nbsp;<em>Tiger King</em>, and will also be executive produced by Nick Bilton, of&nbsp;<em>HBO’s The Inventor: Out for Blood in Silicon Valley</em>—works that made&nbsp;<a href="https://www.forbes.com/sites/aaronkwittken/2019/01/22/catching-fyre-what-marketers-can-learn-from-mini-madoff-mcfarland/?sh=3a41b2c26140">Billy McFarland</a>,&nbsp;<a href="https://www.forbes.com/sites/lisakim/2022/01/28/tiger-king-star-joe-exotic-resentenced-to-21-years-in-prison-for-murder-for-hire-plot-one-year-less-than-original-term/?sh=6f92178d59c0">Joe Exotic</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/sites/marisadellatto/2022/01/03/elizabeth-holmes-found-guilty-on-wire-fraud-charges/?sh=6ab26e6f46b6">Elizabeth Holmes</a>&nbsp;household names.&nbsp;</p>



<h2 class="wp-block-heading" id="key-background">KEY BACKGROUND</h2>



<p>Since the success of Netflix’s 2015 hit&nbsp;<em>Making A Murderer</em>, the platform and other streaming services have ramped up production of true-crime documentaries, docuseries and fictional spinoffs of real-world stories. In 2016,&nbsp;<a href="https://www.businessinsider.com/netflix-is-a-documentary-powerhouse-heres-why-2017-3#" target="_blank" rel="noreferrer noopener">68 million people</a>&nbsp;watched documentaries on Netflix, and 73% of their subscribers watched at least one. After being released at the onset of the pandemic,&nbsp;<em>Tiger King&nbsp;</em>became the most popular show on the streaming services in 2020. Netflix is one of the biggest buyers in the world of unscripted TV programming,&nbsp;<a href="https://www.bloomberg.com/news/articles/2021-11-11/netflix-hbo-amazon-buying-up-reality-tv-shows-for-streaming-services" target="_blank" rel="noreferrer noopener">Bloomberg</a>&nbsp;reported in November. And as pop culture remains fixated on true crime and scammers, there is no sign the streamer plans to slow down.&nbsp;</p>



<h2 class="wp-block-heading" id="tangent">TANGENT</h2>



<p>Lichtenstein and Morgan, a married couple living in New York City, were charged with conspiracy to commit money laundering and and conspiracy to defraud the United States for attempting to launder billions of dollars worth of Bitcoin that was stolen during a 2016 Bitfinex hack, though they haven’t been charged over the hack itself. The couple worked their way into entrepreneur and tech circles, with Morgan writing as a contributor&nbsp; for Forbes.com on business and entrepreneurship, until she was cut in September 2021. The government alleged the couple used fake identities and other &#8220;sophisticated laundering techniques&#8221; to launder the cryptocurrency. As news of their arrest and the seizure broke, Morgan’s odd rap videos posted on YouTube&nbsp; under the stage name Razzlekhan became an object of fascination. A lawyer for the couple&nbsp;<a href="https://www.cnbc.com/2022/02/10/frozen-embryos-will-keep-accused-bitcoin-money-launderers-from-fleeing.html" target="_blank" rel="noreferrer noopener">said</a>&nbsp;in a court filing Thursday that Lichtenstein and Morgan would not flee the U.S. if allowed on bail because the couple has frozen embryos in a NYC hospital and wouldn’t want to jeopardize “access to their ability to have children.”</p>



<h2 class="wp-block-heading" id="further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2022/02/08/feds-seize-36-billion-in-stolen-bitcoin-arrest-couple-five-years-after-massive-crypto-exchange-hack/?sh=3e4163b97c95">Feds Seize $3.6 Billion In Stolen Bitcoin, Arrest Couple Five Years After Massive Crypto Exchange Hack&nbsp;</a>(Forbes)&nbsp;</p>



<p><a href="https://www.forbes.com/sites/davidjeans/2022/02/09/heather-morgan-ilya-lichtenstein-bitcoin-seizure/?sh=30bab60a1ea2">How The Crypto Couple Went From Wannabe Tech Luminaries To Targets In The Biggest Financial Seizure In Justice Department History</a>&nbsp;(Forbes)&nbsp;</p>



<p><a href="https://www.forbes.com/sites/cyrusfarivar/2022/02/10/heather-morgan-ilya-lichtenstein-cat-bitcoin-raid/?sh=c64b9e7405a0">Hollowed-Out Books, Fake Passports And Burner Phones: What Led To The Feds’ Raid On The Crypto Couple</a>&nbsp;(Forbes)</p>



<p><strong><em>By Marisa Dellatto, Forbes Staff</em></strong></p>


Netflix Orders Series On Crypto Couple Only Three Days After They Came To Fame, Highlighting Rise Of ‘Insta-Doc’


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Though it comes as no surprise given the show’s unprecedented success, a second season of the Korean drama <em>Squid Game </em>is in the works at Netflix, according to the streaming giant’s co-CEO and chief content officer Ted Sarandos.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Sarandos&nbsp;<a href="https://www.youtube.com/watch?v=tGGThGUZp4g" target="_blank" rel="noreferrer noopener">said</a>&nbsp;during a discussion of Netflix’s fourth-quarter earnings, “The&nbsp;<em>Squid Game&nbsp;</em>universe has just begun,” and replied “absolutely,” when asked if the show would be getting a second season.</p>



<p>The show’s creator Hwang Dong-hyuk&nbsp;<a href="https://twitter.com/APEntertainment/status/1458060909319004170?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1458060909319004170%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fvariety.com%2F2021%2Ftv%2Fnews%2Fsquid-game-season-2-netflix-1235108088%2F" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the Associated Press in November that&nbsp;<em>Squid Game&nbsp;</em>would “indeed” be getting a second season, but Sarandos’ confirmation is the first word from a Netflix official.</p>



<p>Hwang said that actor Lee Jung-jae will return as the show’s protagonist, Seong Gi-hun.&nbsp;</p>



<p>Netflix&nbsp;<a href="https://variety.com/2021/digital/news/squid-game-all-time-most-popular-show-netflix-1235113196/" target="_blank" rel="noreferrer noopener">said</a>&nbsp;in November the show generated 1.65 billion hours viewed in its first four weeks on the platform.</p>



<p>In the company’s&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2021/q3/FINAL-Q3-21-Shareholder-Letter.pdf" target="_blank" rel="noreferrer noopener">third-quarter</a>&nbsp;earnings letter in October, it reported&nbsp;<em>Squid Game</em>&nbsp;had reached 142 million member houses, making it its biggest show ever.</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>Leaked Netflix estimates seen by Bloomberg in October said the show would create nearly <a href="https://www.bloomberg.com/news/articles/2021-10-17/squid-game-season-2-series-worth-900-million-to-netflix-so-far" target="_blank" rel="noreferrer noopener">$900 million</a> in value for the streaming giant.</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>The show’s popularity hasn’t translated to a huge spike in subscribers the way shareholders would hope. Netflix gained 4.4 million net subscribers in the quarter&nbsp;<em>Squid Game&nbsp;</em>was released, with just 70,000 coming from the U.S. and Canada. The company’s fourth-quarter earnings report, which showed a continued dip in subscriber growth compared to its early-pandemic success, contributed to a&nbsp;<a href="https://www.forbes.com/sites/masonbissada/2022/01/20/netflix-stock-plunges-20-following-disappointing-earnings-report/?sh=425085d56326">20% drop</a>&nbsp;in its stock price in after-hours trading Thursday.</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>Hwang said in November the show’s season 2 release date was unclear: “I do think it’s too early to say when and how that’s going to happen,” he told the AP.</p>



<p><strong><em>By Mason Bissada, Forbes Staff</em></strong></p>


Logo Photo Illustration

‘Squid Game’ Season 2 Is Happening, Netflix CEO Confirms


<p><strong>TOPLINE</strong> Netflix has reportedly suspended three employees who crashed a virtual executives meeting in the wake of controversy surrounding Dave Chappelle’s recent comedy special <em>The Closer</em>, which has been <a href="https://www.washingtonpost.com/arts-entertainment/2021/10/07/dave-chappelle-netflix-special-controversy/" target="_blank" rel="noreferrer noopener">criticized</a> for transphobia, according to a Monday <a href="https://variety.com/2021/film/news/dave-chappelle-netflix-suspends-trans-employee-1235086394/" target="_blank" rel="noreferrer noopener">report</a> by <em>Variety</em>.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>In&nbsp;<em>The Closer</em>&nbsp;— ranked the third most popular program on Netflix in the U.S. as of Monday afternoon — Chappelle makes a number of comments that have been condemned for&nbsp;<a href="https://www.npr.org/2021/10/05/1043435919/dave-chappelle-new-netflix-special-the-closer-review" target="_blank" rel="noreferrer noopener">going “too far”</a>&nbsp;as one reviewer put it,&nbsp;<a href="https://www.washingtonpost.com/arts-entertainment/2021/10/07/dave-chappelle-netflix-special-controversy/" target="_blank" rel="noreferrer noopener">for instance</a>&nbsp;when he “compares the genitalia of trans women to vegetarian substitutes for meat products.”</p>



<p><em>Variety</em>&nbsp;reported Monday one of the three employees suspended was senior software engineer Terra Field, who identifies as trans and whose&nbsp;<a href="https://twitter.com/RainofTerra/status/1445914236668895236" target="_blank" rel="noreferrer noopener">extensive Twitter thread</a>&nbsp;responding to the special went viral last week.</p>



<p>Sources told the magazine that Field was suspended because she and the other two unidentified employees showed up at a meeting with top executives uninvited, not because of her comments on Twitter in which she&nbsp;<a href="https://twitter.com/RainofTerra/status/1445914240963940352" target="_blank" rel="noreferrer noopener">objected</a>&nbsp;to the harmful effects of such content on trans people, and Black trans women in particular.</p>



<p>Netflix did not respond to a request for comment from&nbsp;<em>Forbes</em>, while Field&nbsp;<a href="https://twitter.com/RainofTerra/status/1447658522301198337" target="_blank" rel="noreferrer noopener">tweeted</a>&nbsp;“Oh god is this all happening on #NationalComingOutDay?” apparently in reference to the news.</p>



<p>The revelations came shortly after&nbsp;<em>Variety</em>&nbsp;also&nbsp;<a href="https://variety.com/2021/film/news/dave-chappelle-stand-up-netflix-controversy-1235086299/" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;that Netflix co-CEO Ted Sarandos had defended Chappelle in a Friday memo to staff citing “artistic freedom.”</p>



<p>According to&nbsp;<em>Variety</em>&nbsp;the memo was sent after the company’s two-day quarterly business review meeting, during which Sarandos “offered guidance” on how to deal with those speaking out against Chappelle; Netflix declined&nbsp;<em>Variety</em>’s request for comment.</p>



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



<p>Chappelle’s comments in&nbsp;<em>The Closer</em>&nbsp;were&nbsp;<a href="https://www.washingtonpost.com/arts-entertainment/2021/10/07/dave-chappelle-netflix-special-controversy/" target="_blank" rel="noreferrer noopener">roundly criticized</a>&nbsp;by advocacy groups including&nbsp;<a href="https://twitter.com/glaad/status/1445870767548231685?s=20" target="_blank" rel="noreferrer noopener">GLAAD</a>, the&nbsp;<a href="https://twitter.com/HRC/status/1445760431574814731" target="_blank" rel="noreferrer noopener">Human Rights Campaign</a>&nbsp;and the&nbsp;<a href="https://twitter.com/MSNBCweekends/status/1447335467242901506" target="_blank" rel="noreferrer noopener">National Black Justice Coalition</a>. Jaclyn Moore, a showrunner on Netflix’s series&nbsp;<em>Dear White People</em>, announced that she was&nbsp;<a href="https://variety.com/2021/tv/news/dear-white-people-jaclyn-moore-dave-chappelle-netflix-1235083197/" target="_blank" rel="noreferrer noopener">boycotting</a>&nbsp;the streaming behemoth,&nbsp;<a href="https://www.instagram.com/p/CUtktAcNre0/" target="_blank" rel="noreferrer noopener">saying</a>&nbsp;she wouldn’t work for them “as long as they keep promoting and profiting from dangerous transphobic content.” Chapelle has been&nbsp;<a href="https://twitter.com/MSNBCweekends/status/1447335467242901506" target="_blank" rel="noreferrer noopener">quoted</a>&nbsp;as saying he has “never had a problem with trans people,” but during the special the comedian did embrace the term “TERF” — which stands for “trans-exclusionary radical feminist” and represents an ideology that does not recognize trans women as women. He was&nbsp;<a href="https://www.thedailybeast.com/dave-chappelle-backed-by-family-of-late-transgender-comedian-daphne-dorman-from-the-closer" target="_blank" rel="noreferrer noopener">defended</a>&nbsp;recently by the family of the late trans comedian Daphne Dorman, a friend of Chappelle’s who died by suicide in 2019. Dorman’s younger sister described Chappelle as “an LGBTQ ally” to&nbsp;<a href="https://www.thedailybeast.com/dave-chappelle-backed-by-family-of-late-transgender-comedian-daphne-dorman-from-the-closer" target="_blank" rel="noreferrer noopener"><em>The Daily Beast</em></a>, adding that the family was not offended by his jokes.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>In her Twitter thread, Field&nbsp;<a href="https://twitter.com/RainofTerra/status/1445914242335473669" target="_blank" rel="noreferrer noopener">explained</a>&nbsp;why she found his comments in&nbsp;<em>The Closer</em>&nbsp;so problematic: “Promoting TERF ideology (which is what we did by giving it a platform yesterday) directly harms trans people, it is not some neutral act. This is not an argument with two sides. It is an argument with trans people who want to be alive and people who don’t want us to be.”</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>It’s not the first time a Netflix special of Chappelle’s has been denounced for containing incendiary material including jokes aimed at trans people: his 2019 show&nbsp;<a href="https://www.vox.com/2019/8/29/20835637/dave-chappelle-netflix-special-hidden-ending-cancel-culture" target="_blank" rel="noreferrer noopener"><em>Sticks &amp; Stones</em></a>&nbsp;and 2017 special&nbsp;<a href="https://www.indiewire.com/2018/01/dave-chappelle-transgender-jokes-netflix-equanimity-1201912946/" target="_blank" rel="noreferrer noopener"><em>Equanimity</em></a>&nbsp;were both criticized upon their release.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p>“<a href="https://variety.com/2021/film/news/dave-chappelle-netflix-suspends-trans-employee-1235086394/" target="_blank" rel="noreferrer noopener">Netflix Suspends Three Employees, Including Trans Person Who Spoke Out Against Dave Chappelle, for Crashing Leadership Meeting</a>” (<em>Variety</em>)</p>



<p>“<a href="https://www.theverge.com/2021/10/11/22720724/netflix-suspends-trans-employee-tweeted-dave-chappelle-the-closer" target="_blank" rel="noreferrer noopener">Netflix suspends trans employee who tweeted about Dave Chappelle special</a>” (The Verge)</p>



<p>“<a href="https://variety.com/2021/film/news/dave-chappelle-stand-up-netflix-controversy-1235086299/" target="_blank" rel="noreferrer noopener">Netflix’s Ted Sarandos Defends Dave Chappelle Special in Staff Memo: ‘Artistic Freedom’ Is Different for Stand-Up (EXCLUSIVE)</a>” (<em>Variety</em>)</p>



<p>“<a href="https://www.hollywoodreporter.com/news/general-news/dave-chappelle-netflix-special-critics-cancel-culture-1235028197/" target="_blank" rel="noreferrer noopener">Dave Chappelle Talks Cancel Culture After Netflix Special Controversy</a>” (<em>The Hollywood Reporter</em>)</p>



<p>“<a href="https://variety.com/2021/tv/news/dear-white-people-jaclyn-moore-dave-chappelle-netflix-1235083197/" target="_blank" rel="noreferrer noopener">‘Dear White People’ Co-Showrunner Jaclyn Moore on Why She’s Boycotting Netflix Over Transphobic Dave Chappelle Special (EXCLUSIVE)</a>” (<em>Variety</em>)</p>



<p>“<a href="https://www.thedailybeast.com/dave-chappelle-backed-by-family-of-late-transgender-comedian-daphne-dorman-from-the-closer" target="_blank" rel="noreferrer noopener">Dave Chappelle Backed by Family of Late Transgender Comic Daphne Dorman</a>” (<em>The Daily Beast</em>)</p>



<p>“<a href="https://www.indiewire.com/2018/01/dave-chappelle-transgender-jokes-netflix-equanimity-1201912946/" target="_blank" rel="noreferrer noopener">Dave Chappelle Criticized Once Again For Making ‘Offensive’ Transgender Jokes in Netflix Special ‘Equanimity’</a>” (IndieWire)</p>



<p><strong><em>By Téa Kvetenadze, Forbes Staff</em></strong></p>


Hollywood Exteriors And Landmarks – 2021

Netflix Suspends Employees For Crashing Meeting Amid Chappelle Transphobia Controversy


<p>IF YOU ARE FAMILIAR WITH THE SOUTH AFRICAN entertainment scene, the term <em>JIVA </em>is not foreign to you. Netflix has now marked South African dance on the map with this new original five-part series. FORBES AFRICA spoke to the stars of the show, Noxolo Dlamini and Candice Modiselle, a day before its release.</p>



<p>South African actor and dancer Dlamini, who plays Ntombi in <em>JIVA</em>, is ecstatic about her breakthrough lead role, not only from a personal perspective but also from the lens of highlighting how “deeply rooted” the South African dance scene is.</p>



<p>“I am hoping audiences will take away that we are more alike than we seem but more importantly, highlight how big the dance culture is in South Africa,” Dlamini says. “And also how seriously we take it.”</p>



<p>South African <em>BBC</em>’s <em>Strictly Come Dancing </em>professional, Oti Mabuse, took to Instagram to celebrate the release of the new series, also commenting on how the show touches on the importance of South African dance.</p>



<p>“How they use our homegrown dance styles and [how] they’ve managed to capture how we see South Africa,” she posted.</p>



<p>“The riots, taxis, street markets, the difference between living in the township, city, and the countryside and all inspired by dance or through dancers’ eyes!”</p>



<p>Dlamini and Modiselle hope that this will educate people in understanding and respecting traditional artists not only in South Africa but in Africa as a whole.</p>



<p>“The world needs to realize what work we can bring on an international level,” says Dlamini.</p>



<p>“The [world needs to know the] fact that we have seen Africa as a whole being documented from a very Eurocentric and Western lens and perspective in a way that does not do justice to the authenticity of who Africa is,” Modiselle adds.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="FRONTRUNNER:Showcasing South Africa’s Homegrown Dance Culture" width="500" height="281" src="https://www.youtube.com/embed/EwphJ3r9uIU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>




Jiva feature

Showcasing South Africa’s Homegrown Dance Culture


<p id="h-topline"><strong>TOPLINE</strong> The abrupt ending to the Oscars, which saw the late Chadwick Boseman—the favorite to win the Best Actor prize—&nbsp;<a href="https://www.forbes.com/sites/maddieberg/2021/04/25/chadwick-boseman-snubbed-for-best-actor-oscar/?sh=3e94f2076de6">lose out</a>&nbsp;to Anthony Hopkins, has drawn confused and angry reactions from viewers on social media in what is the latest instance of an Academy Awards ceremony failing to pull off a satisfying ending.</p>



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-683x1024.jpg" alt="" class="wp-image-50966" width="436" height="654" srcset="https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-683x1024.jpg 683w, https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-200x300.jpg 200w, https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-768x1152.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-1024x1536.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-1365x2048.jpg 1365w, https://cms.forbesafrica.com/wp-content/uploads/2021/04/GettyImages-1314484181-scaled.jpg 1707w" sizes="(max-width: 436px) 100vw, 436px" /><figcaption>LOS ANGELES, CALIFORNIA – APRIL 25: (EDITORIAL USE ONLY) In this handout photo provided by A.M.P.A.S., a general view of the trophies during the 93rd Annual Academy Awards at Union Station on April 25, 2021 in Los Angeles, California. (Photo by Troy Harvey/A.M.P.A.S. via Getty Images)</figcaption></figure></div>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<ul><li>The decision by the Oscars producers to switch the traditional order of the awards—choosing to end with the Best Actress and Best Actor prize instead of the Best Picture—had raised hopes for a memorable posthumous win for Boseman to close out the show.</li></ul>



<ul><li>However, Boseman’s performance in&nbsp;<em>Ma Rainey&#8217;s Black Bottom</em>&nbsp;<a href="https://www.forbes.com/sites/maddieberg/2021/04/25/chadwick-boseman-snubbed-for-best-actor-oscar/?sh=3e94f2076de6">lost out</a>&nbsp;to Hopkins’ role in&nbsp;<em>The Father</em>.</li></ul>



<ul><li>As Hopkins was not in attendance to accept the award, the ceremony ended abruptly after his name was announced, prompting confusion among viewers on Twitter who compared it to other botched finales, like ones from&nbsp;<em>The Sopranos</em>&nbsp;and&nbsp;<a href="https://twitter.com/JoyAnnReid/status/1386520116016320513" target="_blank" rel="noreferrer noopener"><em>Game Of Throne</em>s</a>.</li></ul>



<ul><li>It’s unclear if Steven Soderbergh, who produced this year’s awards, made the decision to switch the order of things expecting an emotional win for Boseman—who had won the top prize at this year’s Golden Globes and SAG Awards.</li></ul>



<ul><li>Viewers on Twitter were&nbsp;<a href="https://twitter.com/mikeryan/status/1386519697412214787" target="_blank" rel="noreferrer noopener">annoyed</a>&nbsp;that the ceremony failed to deliver after it seemed like things were building up to a memorable win for Boseman, and many also&nbsp;<a href="https://twitter.com/davidehrlich/status/1386520238095749129" target="_blank" rel="noreferrer noopener">slammed</a>&nbsp;the snafu for taking away from Hopkins’ big moment as well.</li></ul>



<ul><li>If things had played out in the traditional order, the show would have ended with Chloé Zhao’s&nbsp;<em>Nomadland</em>&nbsp;winning Best Picture, which many&nbsp;<a href="https://twitter.com/leestorrow/status/1386520909222195208" target="_blank" rel="noreferrer noopener">argued</a>&nbsp;would have been a more historic and celebratory moment.</li></ul>



<h3 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h3>



<p>Chloé Zhao won the Oscar for Best Director&nbsp;<a href="https://www.forbes.com/sites/maddieberg/2021/04/25/chlo-zhao-becomes-first-woman-of-color-to-win-best-director-oscar/?sh=3231e9605a40">becoming</a>&nbsp;only the second woman to win the category in 93 years, and the first woman of color to do so.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>Sunday’s botched ending to the ceremony has drawn comparisons to the 89th Academy Awards, where presenters Faye Dunaway and Warren Beatty incorrectly announced that&nbsp;<em>La La Land</em>&nbsp;had won the Best Picture awards. The mistake was fixed several minutes later—after&nbsp;<em>La La Land</em>’s cast and crew had come up to the stage, and a few of them had already delivered their speeches. The film&nbsp;<em>Moonlight&nbsp;</em>was then announced as the actual winner. Apart from the controversial final award, Sunday’s ceremony was swept by Chloe Zhao’s&nbsp;<em>Nomadland</em>, which won the Best Picture prize, along with Zhao winning Best Director and Frances McDormand winning Best Actress for her role in the film.</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>Things weren’t entirely gloomy on social media, as Glenn Close won instant accolades for immediately recognizing the dance single “Da Butt” and doing a&nbsp;<a href="https://twitter.com/laceygilleran/status/1386512616256901123" target="_blank" rel="noreferrer noopener">little jig</a>&nbsp;to it during the ceremony. In a skit during the ceremony, comedian Lil Rel Howery walked around asking a few actors to identify Oscar-nominated songs. When Howery walked up to Close, DJ Questlove played 1988’s “Da Butt” by the Washington D.C. go-go band Experience Unlimited. The song had been featured in one of Spike Lee’s early films,&nbsp;<em>School Daze</em>, a musical set at a fictional historically Black university. Close seemed to recognize the song instantly, and followed it up by&nbsp;<a href="https://twitter.com/laceygilleran/status/1386512616256901123" target="_blank" rel="noreferrer noopener">twerking</a>&nbsp;to the song. The&nbsp;<em>Los Angeles Times</em>&nbsp;has since&nbsp;<a href="https://www.latimes.com/entertainment-arts/movies/story/2021-04-25/oscars-2021-glenn-close-da-butt-dance" target="_blank" rel="noreferrer noopener">confirmed</a>&nbsp;that the moment was scripted for laughs. But it seems to have done its trick and has garnered near-universal approval on social media.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/maddieberg/2021/04/25/chadwick-boseman-snubbed-for-best-actor-oscar/?sh=3e94f2076de6">Chadwick Boseman Loses Best Actor Oscar To Anthony Hopkins</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/maddieberg/2021/04/25/chlo-zhao-becomes-first-woman-of-color-to-win-best-director-oscar/?sh=3231e9605a40">Chloé Zhao Becomes First Woman Of Color To Win Best Director Oscar</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/dawnchmielewski/2021/04/26/netflix-once-again-loses-out-in-best-picture-sweepstakes/?sh=78a2982842eb">Netflix Once Again Loses Out In Best Picture Sweepstakes</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/dawnchmielewski/2021/04/25/oscars-2021-the-live-winners-list/?sh=128f9bcb9e23">Oscars 2021: The Full Winners List</a>&nbsp;(Forbes)</p>



<p><em><strong>By <a href="https://www.forbes.com/sites/siladityaray/">Siladitya Ray</a>, Forbes Staff</strong></em></p>


91st Annual Academy Awards – Arrivals

Oscars 2021: Switched Ending And Surprise Chadwick Boseman Loss Prompts Confusion And Anger


<p>Stay-at-home stocks, a pandemic-market favorite, are getting battered Monday after pharmaceutical giant Pfizer announced promising vaccine results that could reopen and restore a troubled economy, but might negatively affect companies like Zoom and Peloton that have benefited from the stay-at-home environment—at least temporarily. </p>



<h4 class="wp-block-heading">KEY FACTS</h4>



<p>Tech-heavy Nasdaq, which hosts stay-at-home staples like Zoom, Netflix and Amazon, is lagging the broader market on Monday, is up just 1% while the Dow Jones and S&amp;P 500 are up about 4% and 3%, respectively, as industries left reeling by the pandemic celebrate news regarding the possibility of a return to normalcy.</p>



<p>Among the day&#8217;s biggest stock losers is pandemic phenomenon Zoom, which late last month&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2020/10/29/zoom-is-now-worth-more-than-exxonmobil-and-founder-eric-yuans-net-worth-has-nearly-doubled-in-three-months/">surpassed ExxonMobil in market cap</a>; shares are down 15% on Monday but are still up more than 500% this year.Peloton Interactive–which is gearing up for what could easily be its best holiday season yet–is also tanking about 15%, pushing its year-to-date gains down to about 260%.</p>



<p>Netflix, meanwhile, is down about 5%–a slightly smaller decline for a firm that&#8217;s still up nearly 50% this year.</p>



<p>Though not as hard hit as others on Monday, cloud stocks like Twilio, Slack and Datadog are also falling–about 3%, 1.5% and 1%, respectively–despite the broader market gains.</p>



<p>Stocks like Zoom and Netflix should be &#8220;long-term winners, [but they&#8217;ll] lose in the short term, as their valuations ran ahead of actual earnings,&#8221; says James McDonald, the CEO of Los Angeles-based Hercules Investments, adding that such firms have &#8220;likely already seen peak levels of adoption and revenue&#8221; in the short term.</p>



<h4 class="wp-block-heading">CRUCIAL QUOTE&nbsp;</h4>



<p>&#8220;The enormous moves witnessed in some areas of the market are certainly due to a fundamental reassessment after the vaccine news, but [they] also reflect a huge positioning adjustment as investors try and dial back tech exposures and&#8230; buy names closer to the epicenter of the pandemic,&#8221; says Vital Media Knowledge Founder Adam Crisafulli. &#8220;Even though tech has been in the midst of a consolidation phase since the start of September, the group is still very owned and should this pro-cyclical rotation continue (which seems likely), momentum will face steep headwinds in the near-term.&#8221;</p>



<h4 class="wp-block-heading">CHIEF CRITIC</h4>



<p>Experts aren&#8217;t totally convinced Monday&#8217;s stock gains–and losses–will be long-lived. &#8220;I suspect the markets, which are already in a bullish mood due to the incoming Biden administration, are overthinking the positive vaccine news,&#8221; says Nigel Green, the CEO of $10 billion advisory deVere Group. “There’s a long road ahead still,&#8221; he adds, noting that investors will have more clarity on the implications of Monday&#8217;s announcement by the third week of November, when Pfizer&nbsp;<a href="https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-announce-vaccine-candidate-against" target="_blank" rel="noreferrer noopener">says it plans</a>&nbsp;to submit its vaccine candidate to the FDA for approval.</p>



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



<p>Technology stocks have massively outperformed the broader market this year, with the Nasdaq composite up nearly 30% since January while the S&amp;P 500 and Dow Jones are up about 11% and 2%, respectively. Monday marked a reversal of fortune between firms doing well during the pandemic and those that have been hardest hit. While stay-at-home stocks sink, shares of banks, energy firms, cruiseliners and movie-theater operators are surging.&nbsp;</p>



<h4 class="wp-block-heading">TANGENT</h4>



<p>Shares of Clorox, a pandemic breakout stock, are also slumping–down 7%–on Wednesday, though they&#8217;re still up 34% for the year.&nbsp;</p>



<h4 class="wp-block-heading">FURTHER READING</h4>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2020/11/09/stocks-surge-worldwide-to-new-all-time-highs-after-pfizer-says-covid-19-vaccine-candidate-90-effective/">Stocks Surge Worldwide To New All-Time Highs After Pfizer Says Covid-19 Vaccine Candidate 90% Effective</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/roberthart/2020/11/09/pfizer-says-covid-19-vaccine-is-90-effective-although-trials-are-ongoing/">Pfizer Says Covid-19 Vaccine Is 90% Effective, Although Trials Are Ongoing</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2020/11/06/billionaire-leon-cooperman-knows-for-sure-election-results-will-be-challengedheres-his-outlook-on-stocks-and-the-economy/">Billionaire Leon Cooperman Knows ‘For Sure’ Election Results Will Be Challenged—Here’s His Outlook On Stocks And The Economy</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2020/11/06/stocks-end-week-with-biggest-post-election-day-rally-in-over-a-century/">Stocks End Week With Biggest Post-Election Day Rally In Over A Century</a><em> (Forbes)</em></p>



<p><em>-By Jonathan Ponciano, Forbes Staff</em></p>


Key Speakers At The BoxWorks 2019 Conference

Zoom, Peloton, Netflix: Stay-At-Home Stocks Are Getting Smoked By Pfizer’s Latest Vaccine Prospects


<p>Many American Netflix users will need to pay $1 extra for a subscription, the company announced Thursday, as the streaming giant deals with slowing U.S. growth after an explosion in new subscribers at the start of the Covid-19 pandemic.</p>



<h4 class="wp-block-heading">KEY FACTS</h4>



<p>A standard subscription now costs $14 a month rather than $13, and a premium plan (which allows users to stream content on more devices simultaneously) jumped from $16 to $18, though the company’s $9 basic standard-definition plan remains unchanged.</p>



<p>The price hikes will take effect immediately for new subscribers, and existing users will see their monthly bills increase over the next two months, with a warning 30 days ahead of time, a Netflix spokesperson told&nbsp;<em>Forbes</em>.</p>



<p>The company said it is raising prices to underwrite an expansion in original movies and shows.</p>



<p>Netflix last hiked its U.S. prices in&nbsp;<a href="https://www.marketwatch.com/story/netflix-raising-cost-to-13-a-month-its-biggest-hike-ever-2019-01-15" target="_blank" rel="noreferrer noopener">January of 2019</a>, boosting the cost of a standard plan from $11 to $13 per month.</p>



<h4 class="wp-block-heading">BIG NUMBER</h4>



<p>73.08 million. That’s the total number of U.S. Netflix subscriptions as of last month, according to the company’s&nbsp;<a href="https://www.netflixinvestor.com/financials/quarterly-earnings/default.aspx" target="_blank" rel="noreferrer noopener">third quarter</a>&nbsp;earnings report. Fewer than&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2020/10/20/netflix-subscriber-growth-slows-after-surging-during-pandemic/?sh=690475e7244e">half</a>&nbsp;of all Netflix subscribers live in the United States, the result of rapid international growth.</p>



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



<p>Netflix saw&nbsp;<a href="https://www.bbc.com/news/business-52376022" target="_blank" rel="noreferrer noopener">surging demand</a>&nbsp;earlier this year, after the coronavirus closed most movie theaters and sent bored, homebound customers in search for entertainment. Almost 26 million new people worldwide subscribed to Netflix in the first half of 2020, the largest growth spurt in Netflix’s history, and the company rushed to add new shows at a rapid clip. This expansion&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2020/10/20/netflix-subscriber-growth-slows-after-surging-during-pandemic/?sh=690475e7244e">stalled</a>&nbsp;between July and September, when the company added just 2.2 million new subscribers, and Netflix expects growth to remain more modest for the next few months.</p>



<h4 class="wp-block-heading">TANGENT</h4>



<p>Netflix faces stiff competition from smaller streaming services, including longstanding rivals like Disney’s Hulu and&nbsp;<a href="https://www.vulture.com/2019/11/new-streaming-services-2019-2020.html" target="_blank" rel="noreferrer noopener">newer services</a>&nbsp;like Disney+ and NBCUniversal’s Peacock. Most of these services&nbsp;<a href="https://www.thestreet.com/lifestyle/best-streaming-services-cost-15166523" target="_blank" rel="noreferrer noopener">charge</a>&nbsp;less than $10 per month, making Netflix a pricey option in a crowded market. Still,&nbsp;<a href="https://s22.q4cdn.com/959853165/files/doc_financials/2020/q3/Netflix,-Inc.,-Q3-2020-Earnings-Call,-Oct-20,-2020.pdf" target="_blank" rel="noreferrer noopener">Netflix executives believe</a>&nbsp;price increases will not slow their growth as long as the company continues adding enough new shows to justify the cost of a subscription.</p>



<h4 class="wp-block-heading">CRUCIAL QUOTE</h4>



<p>“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” Netflix spokesperson Katy Dormer told&nbsp;<em>Forbes&nbsp;</em>in an email. “We’re updating our prices so that we can continue to offer more variety of TV shows and films.”</p>



<h4 class="wp-block-heading">FURTHER READING</h4>



<p><a href="https://www.theverge.com/2020/10/29/21540346/netflix-price-increase-united-states-standard-premium-content-product-features" target="_blank" rel="noreferrer noopener">Netflix is raising the price of its most popular plan to $14 today, premium tier increasing to $18 (The Verge)</a></p>



<p><a href="https://www.forbes.com/sites/joewalsh/2020/10/20/netflix-subscriber-growth-slows-after-surging-during-pandemic/?sh=690475e7244e">Netflix Subscriber Growth Slows After Surging During Pandemic (Forbes)</a></p>



<p><em>-By Joe Walsh, Forbes Staff</em></p>


Tag: Netflix

FORBES AFRICA SOCIAL MEDIA