We will be updating this story as we learn more about how one of the best streaming services just got a little more expensive. Neither Paramount Plus and Peacock have had the must-see hits such as Squid Game that Netflix continues to go viral with, but with their own live news and sports, each is an interesting offer.įrankly, we wouldn't be surprised if people thought about canceling Netflix in favor of other streaming services, but while you make up your mind you could check out our guide on the 9 new movies and shows to watch this weekend, which include titles on Netflix and HBO Max. Of those, the $15 per month HBO Max (which has a $10 per month ad-supported option) is the most expensive, while Paramount Plus and Peacock Premium (essentially a Standard tier) both costs $4.99 per month. Then Paramount Plus launched in March 2021, giving users another potential monthly fee to remember. HBO Max spent 2021 giving us blockbuster movies on demand, while Peacock's movie library has quietly improved. 2020 raise came during the early days of HBO Max and Peacock, those services have been getting better. Both price hikes felt akin to Netflix saying "It's not like you're going out much these days, right?"īut this hike feels different. This is Netflix's first price hike since October 2020. ![]() The company spent an estimated $166 million on its executive pay package last year.Īlexandra Canal is a Senior Reporter at Yahoo Finance.Analysis: Netflix's hike happens as competition rises Outside of content investments, the company said in its shareholder letter that it will plan on "substantial changes for 2024" to its executive compensation plan after shareholders rejected a multi-million dollar executive compensation package earlier this summer. Basic plan subscribers will now pay 11.99 per month, an. In the meantime, the platform will lean on new programming - such as live events.Įarlier this week, the company confirmed the debut of “The Netflix Cup,” a celebrity golf tournament that will feature athletes from "Formula 1: Drive to Survive" and “Full Swing.” The event will stream live from Wynn Gold Club in Las Vegas on Nov.14. On Wednesday, Netflix announced in its third quarter earnings that it’s increasing prices on its Basic and Premium subscription plans. ![]() We’re committed to resolving the remaining issues as quickly as possible so everyone can return to work making movies and TV shows that audiences will love."Īs Hollywood productions remain shut down amid the actors strike, the company said it expects to spend around $13 billion on content this year before boosting that number to $17 billion next year, assuming the SAG strike is resolved in the near future. "While we have reached an agreement with the WGA, negotiations with SAG-AFTRA are ongoing. "The last six months have been challenging for our industry given the combined writers and actors strikes in the US," the company said in its release. Netflix boosted its full-year free cash flow guidance to $6.5 billion, up from the prior $5 billion, citing the impact of the double Hollywood strikes. The company said it expects full-year operating margins to hit 20% - the high end of its previous forecast between 18% and 20%.įree cash flow impressed at $1.89 billion, above consensus calls of $1.27 billion. Operating margin hit 22.4% in the quarter, surpassing Netflix's own projection of 22.2%. ![]() ![]() Profitability metrics like operating margin and free cash flow, however, steadily beat expectations. The Netflix logo is displayed at the entrance to Netflix Albuquerque Studios film and television production studio lot in Albuquerque, N.M., on Oct.
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