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☆ '#CancelNetflix': Twitter users boast about ditching Netflix subscriptions amid password-sharing backlash
▼ + stars: | 2023-06-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Twitter users have been posting screenshots of their canceled subscriptions with the hashtag. The hashtag "CancelNetflix" is picking up steam on Twitter amid Netflix's password-sharing clampdown in the US. Another user accused the company of being "anti-family" in a tweet that accompanied a screenshot of a canceled Netflix account. Shannon Freshour, a politician in Ohio, wrote in a tweet directed at the streaming giant: "You're by far the most expensive streaming service w/o the value matching it. A survey from US firm Jefferies found that 62% of password borrowers said they would stop using the streaming service rather than purchase an account.

Persons: It's, I've, Erin Biba, Biba, they're, Imani Barbarin, Shannon Freshour, Jefferies, Greg Peters Organizations: Twitter, netflix, Netflix, Apple Locations: Ohio

☆ Netflix shareholders reject sky-high executive pay packages
▼ + stars: | 2023-06-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Netflix shareholders voted on Thursday to reject multi-million dollar pay packages for the company’s top executives including for co-CEOs Ted Sarandos and Greg Peters. Frederic J. Brown/AFP/Getty ImagesNetflix’s proposed executive pay packages for 2023 included up to $40 million for Sarandos, including base salary, a performance bonus and stock options. Netflix’s board, meanwhile, is able to disregard the results of this “say on pay” vote and approve executive compensation plans in spite of shareholder wishes. The board has already unanimously recommended voting for the pay packages. Last year, just 27% of Netflix shareholders approved of 2022 executive compensation packages.

Persons: Ted Sarandos, Greg Peters, ”, Meredith Stiehm, Frederic J . Brown, Peters, Reed Hastings, Spencer Neumann, David Hyman, Rachel Whetstone Organizations: New, New York CNN, Netflix, Writers Guild of America, Hollywood, WGA, Guild of America, Comcast, Getty, Securities and Exchange Commission Locations: New York, Hollywood , California, AFP

☆ Netflix investors voted against rich pay packages for the company's top execs amid the ongoing Hollywood writers' strike
▼ + stars: | 2023-06-02 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Netflix shareholders on Thursday voted against pay packages for top execs totaling up to $109 million. The WGA had urged Netflix investors to reject the pay packages amid the Hollywood writers' strike. Netflix shareholders on Thursday voted against executive pay packages totaling up $109 million for the company's top leaders, several outlets including the New York Times reported. Amid the ongoing Hollywood writers' strike, the Writers Guild of America had called on Netflix investors to reject this year's executive pay raises. Last year, only 26.9% of voted shares approved the pay packages for Netflix's top executives, which led the company to hold discussions with investors, according to the annual proxy statement.

Persons: Ted Sarandos, Greg Peters, Reed Hastings, Meredith Stiehm, Peters Organizations: Netflix, WGA, Hollywood, Morning, New York Times, Writers Guild of America, Hastings, Comcast

☆ Netflix Shareholders Vote to Reject Executive Pay Packages
▼ + stars: | 2023-06-01 | by ( Nicole Sperling | ) www.nytimes.com time to read: 1 min

The NewsNetflix shareholders voted on Thursday to reject the lucrative pay packages of the company’s leaders, including the co-chief executives Ted Sarandos and Greg Peters. The vote is nonbinding and can be overruled by the company’s board of directors the next time it meets. Mr. Sarandos’s proposed pay package for 2023 would be worth up to $40 million through a combination of base salary, a performance bonus and stock options. Mr. Peters, who was named co-chief executive in January after Reed Hastings stepped down from the role, is set to receive up to $34.6 million. And Mr. Hastings, who became executive chairman, is on track to earn $3 million for the year.

Persons: Ted Sarandos, Greg Peters, Sarandos’s, Peters, Reed Hastings, Hastings Organizations: Netflix, Writers Guild of America

☆ It’s Netflix’s world, rivals just stream in it
▼ + stars: | 2023-05-24 | by ( Jennifer Saba | ) www.reuters.com time to read: +9 min

Cheaper streaming options with unique programming were luring viewers, leaving Netflix in a tough spot as it raised prices. Paramount+, started in 2021, is joining forces with sister Showtime to widen its offerings. Disney, Paramount and WBD also operate cable and broadcast networks, and don’t specify what portion of the expense is allocated to streaming. Its subscribers, worth $136 a year in revenue apiece, are also more valuable than those of its rivals. Warner Bros Discovery on May 23 rebranded its streaming service as Max, which will include HBO programming along with Discovery’s reality TV shows.

☆ Netflix is already losing masses of customers over its password-sharing ban. Here's how it's clamping down around the world.
▼ + stars: | 2023-04-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

In Spain, users have gone on a canceling spree. Netflix is pushing ahead with its password-sharing clampdown — and research shows that scores of customers have gone on a canceling spree. In Spain, where password-sharing rules were enforced in early February, Netflix subscribers have been on a canceling spree, per Bloomberg. Citing research from Kantar, Bloomberg reported that Netflix lost more than one million users in Spain during the first three months of 2023. Netflix has tested other rules aimed at stamping out password-sharing, including temporary-access codes for traveling, Insider previously reported.

☆ Netflix says technical glitch that torpedoed the 'Love is Blind' live reunion was from a bug accidentally introduced after Chris Rock's comedy special
▼ + stars: | 2023-04-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Netflix co-CEO said a bug caused the technical glitch that hit the live "Love is Blind" reunion live special on Sunday. About 6.5 million viewers have watched the "Love Is Blind" special so far, Peters added on Tuesday. The delay of the "Love is Blind" special angered fans who hit out at the streaming service for the mishap. It added 1.75 million streaming subscribers in the January to March quarter — short of analyst estimates of 2.06 million additions, per Refinitiv. The streaming service plans to roll out its unpopular paid account sharing across households this quarter, it said in its letter to shareholders on Tuesday.

☆ Netflix says it will finally crack down on password sharing soon
▼ + stars: | 2023-04-18 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Netflix said it has delayed rolling out its paid sharing program to Q2 from Q1. Under the new policy, members will pay a fee to share accounts with people outside of their households. "We're pleased with the most recent launches of paid sharing, and while we could have launched broadly in Q1, we found opportunities to improve the experience for members. Under Netflix's new "paid sharing" policy, members would have to pay a fee to share their accounts with people outside of their households. In January, Netflix's co-CEO, Greg Peters, warned that password sharing would not be a "universally popular move," according to The Hollywood Reporter.

☆ Netflix blames technical bug for live 'Love Is Blind' reunion snafu
▼ + stars: | 2023-04-18 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

Netflix Co-Chief Executive Officer Greg Peters blamed a technical "bug" for why the company had to delay its "Love Is Blind" reunion special. About 6.5 million viewers ultimately watched the "Love Is Blind" special on Netflix, Peters added. "A reunion show that's going to generate news and buzz, it really does play better live," Sarandos said. "We're super disappointed to not be able to come across with the live product for everyone who wanted it on the 'Love is Blind' reunion, but we're super thrilled people love the show. Some of those results oriented shows do play a little better live."

☆ Netflix subscriber adds disappoint after delaying password sharing crackdown
▼ + stars: | 2023-04-18 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —Netflix on Tuesday posted weaker-than-expected subscriber growth for the first three months of this year, causing its stock to fall as much as 8% in after-hours trading before rebounding somewhat. The disappointing subscriber growth came as Netflix delayed its plan to crack down on password sharing. Netflix (NFLX) reported revenue of around $8.2 billion for the quarter, up nearly 4% from the same period in the prior year and in line with analysts’ projections. Unlike its streaming rivals, Netflix had long been resistant to live streaming because of its high costs. But, facing steeper competition, Netflix has started to experiment with the format, one it apparently has not yet perfected.

☆ Here's Goldman's winning options strategy heading into earnings season
▼ + stars: | 2023-04-11 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Goldman Sachs is looking at using stock options as a way to play the forthcoming earnings season. In a note last week, the firm recommended buying at-the-money straddles, which involve purchasing both a put and a call option. "One of our preferred options strategies ahead of earnings is buying straddles that are inexpensive relative to their typical one-day earnings move," Goldman Sachs derivatives specialists Sesha Phani wrote. Goldman posits that the options market hasn't yet fully priced in the volatility that some of the stocks on its list have shown in the past. NFLX YTD mountain Shares of Netflix have been higher from the start of the year, although shares remain vulnerable to volatility.

Google , Netflix , Meta , Apple , Amazon and Microsoft generate nearly half of all internet traffic today. Big Tech firms say this would amount to an "internet tax" that could undermine net neutrality. They bemoaned spending billions on laying cables and installing antennas to cope with rising internet demand without corresponding investments from Big Tech. One suggestion is to require individual bargaining deals with the Big Tech firms, similar to Australian licensing models between news publishers and internet platforms. "The imbalance is not down to Big Tech, it's not down to streamers, and it's not down to telcos.

☆ Netflix's expected password-sharing crackdown puts college students on edge
▼ + stars: | 2023-03-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +9 min

Sam Figiel, a sophomore at Mercer University in Georgia, said access to Netflix is required for many of his peers' classes. Yet the gradual password-sharing changes have created uncertainty for college students who might not have, or want to spend, disposable income for their own subscriptions. People in the 18-to-34 age group, which accounts for 30% of all Netflix users, are more likely to exchange passwords than older viewers. "There are a lot, lot, lot of U.S. users that are not paying for it, and so I think they're very sensitive to the backlash that they're going to get when they institute this," Nollen said. Staying or leavingEven if the cost of a subscription could rise for borrowers, some college students think Netflix is too important to give up.

☆ The Fed and a big jobs report could drive the market in the week ahead, as investors watch rates
▼ + stars: | 2023-03-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The seesaw-like tension between interest rates and stock prices should remain in play in the week ahead, as investors focus on comments from Federal Reserve Chairman Jerome Powell and the February employment report. There are few earnings in the week ahead, so economic data will likely be a main driver for stocks, along with the comments from Powell. The futures market is pricing in a high chance for a quarter point, or 25 basis point hike in March. Week ahead calendar Monday Earnings: WW International, ThredUp, Trip.com, Lordstown Motor, Ciena, Grindr 10:00 a.m. Initial claims 10:00 a.m. Fed Vice Chair for Supervision Michael Barr Friday Earnings: Embraer 8:30 a.m. Employment report 2:00 p.m. Federal budget

☆ Googlers are begrudgingly testing Bard and making memes out of their new task.
▼ + stars: | 2023-02-27 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Since it's a tough time in the tech industry right now, I hope this resonates with some of you, too. Thomas Maxwell/InsiderGooglers are begrudgingly testing their company's ChatGPT competitor. CEO Sundar Pichai asked every employee to spend multiple hours testing Google's new chatbot Bard. They were tasked with improving Bard by asking it questions and flagging bad answers, in addition to their normal responsibilities. Some made memes from the conversations they've had with Bard, continuing a trend of internally mocking the chatbot.

BARCELONA, Feb 26 (Reuters) - A clash between Big Tech and European Union telecoms firms over who will underwrite network infrastructure is set to dominate discussion at the world's largest telecoms conference this week. More than 80,000 people, including tech executives, innovators, and regulators, are set to descend on this year's Mobile World Congress (MWC) in Barcelona. EU industry chief Thierry Breton on Thursday launched a 12-week consultation on its "fair share" proposals, under which Big Tech platforms would bear more of the costs of the systems which give them access to consumers. By contrast, Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and Telecom Italia (TLIT.MI) have been actively lobbying for Big Tech to pay the fees. "This discussion around 'fair share', or what we sometimes call the 'investment gap', is going to be a threshold question," said John Giusti, GSMA's chief regulatory officer.

☆ Netflix hiked US prices in the past year, but it's cutting them in more than 36 other countries
▼ + stars: | 2023-02-24 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Netflix lowered its subscription prices in more than 36 countries over the past few weeks, per The Wall Street Journal. It comes after Netflix hiked its subscription prices in the US. The steaming service's prices cuts will affect various tiers of Netflix plans and are specific to each country, per the report. Some countries will be see their subscription prices drop to half of the original price. The reduction in subscription prices is part of Netflix's plans to grow its customer base outside of the US, the Journal reported.

☆ 'Genuinely considering canceling my subscription': Netflix's password-sharing clampdown sparks angry response from some users
▼ + stars: | 2023-02-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Netflix has said it plans to clamp down on password sharing, and some users aren't happy. "I'm genuinely considering canceling my subscription," journalist Erin Biba said in a tweet, which amassed almost 50,000 likes. The tweet was in response to similar rules about account sharing that were posted on Netflix's website on February 1. Shannon Freshour, a politician in Ohio, wrote in a tweet directed at the streaming giant: "You're by far the most expensive streaming service w/o the value matching it. A survey from US firm Jefferies found that 62% of password borrowers said they would stop using the streaming service rather than purchase an account.

☆ How Netflix leaders, including its new co-CEO, are thinking about a fast streaming service that could supercharge its ads business
▼ + stars: | 2023-02-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Netflix said it's open to adding a free, ad-supported streaming service. A FAST offering could help Netflix scale its nascent ads business, which has been slow to take off. Could Netflix launch a free, ad-supported service? A FAST channel — free, ad-supported television — is a linear stream, a model media companies are increasingly using to complement traditional TV and paid streaming services. For Netflix, a FAST could be a quick way to scale its ads business.

☆ Netflix is thinking about a free streaming service to boost its ads business, insiders say
▼ + stars: | 2023-01-24 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

☆ Netflix Co-Founder Reed Hastings Transitions to Chairman Role, With Greg Peters Elevated as Co-CEO
▼ + stars: | 2023-01-20 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Netflix Inc. said co-founder Reed Hastings would transition from co-chief executive to executive chairman and named a new co-CEO alongside Ted Sarandos , as the company presses on with dual efforts to stoke new revenue growth. Netflix elevated longtime executive and heir apparent Greg Peters , who was key to the company’s swift launch of an ad-supported tier of service and most recently served as chief operating officer, to the co-CEO role.

☆ Google isn't just afraid of competition from ChatGPT — the giant is scared ChatGPT will kill AI
▼ + stars: | 2023-01-20 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

A perfect example of this is the viral technology ChatGPT. ChatGPT makes a lot of people nervous (here's everything you need to know about it, BTW). Or maybe one day ChatGPT will just teach the class — that's probably part of Google's AI nightmare. If ChatGPT runs rampant, the search giant fears it could ruin AI adoption for everyone. My colleague Hasan Chowdhury breaks down how so-called generative AI — not just ChatGPT — could derail an entire sector of emerging technology.

☆ Here's what analysts think about Netflix's CEO change
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Reed Hastings' departure as co-CEO does little to change how analysts view Netflix , or the company's ability to accomplish its long-term strategies, analysts say. The streaming giant announced Thursday that founder Reed Hastings would give up his role after more than two decades and serve as executive chairman. The move came along with quarterly results that fell short of earnings estimates but showed subscriber numbers that far surpassed expectations . "The company's focus, in our view, has always been an underappreciated differentiator and we expect that focus to remain under new leadership." Despite the title change and a step back from day-to-day operations, analysts anticipate that Hastings will continue to be involved in longer-term decision-making.

☆ Netflix stock jumps 6% after co-CEO Reed Hastings steps down and subscriber numbers soar
▼ + stars: | 2023-01-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Netflix shares rallied 6% ahead of Friday's opening bell after the company released its fourth-quarter results. Also, Co-CEO Reed Hastings announced he would be quitting his current role. The firm also announced that co-CEO Reed Hastings would be stepping down to become Netflix's executive chairman. Hastings co-founded Netflix in 1997 and oversaw its transition from DVD delivery service to a streaming behemoth and onetime Wall Street darling. Read more: Reed Hastings is stepping down as co-CEO of Netflix

"This was my road to Damascus experience, a turning point in my understanding of the role of talent density in organizations," Hastings wrote. Hastings credits the company's culture of internal transparency and innovation, which endows top-performers with unusual autonomy, for Netflix's success. "This is a big psychological change for Netflix," said Neil Saunders, managing director of GlobalData. "There's no big strategy shifts or big culture shifts," he said in a post-earnings video interview with an analyst. They'll also need to find new sources of revenue, including in video games -- where Netflix will confront established rivals.

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