
<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>


In this photo illustration the Netflix logo seen displayed

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>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 decoding="async" loading="lazy" 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’


<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 decoding="async" loading="lazy" 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>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>


Stay at home and watch TV

Netflix Just Raised The Price Of A Monthly Subscription


<p>Whilst other industries succumb to the coronavirus pandemic, Netflix is reigning supreme.</p>



<p>With almost half the planet in lockdown, the streaming giant is cashing in on a captive home audience, even in Africa.</p>



<p>Pushing more international content on its platform as it takes on competitors Disney+, Hulu (majority-owned by Disney), Amazon and Showmax, Netflix has been vocal about making Africa a new hub for generating original content.</p>



<p>In February, it premiered its first African original series, <em>Queen Sono</em>, a South African crime drama starring Pearl Thusi, which is now going into its second season after receiving rave reviews.</p>



<p>Netflix has also just announced its second African original series, titled <em>Blood &amp; Water</em>.</p>



<p>The series, focusing on “a world of mystery, raw family dynamics and light-hearted relief”, is directed by Nosipho Dumisa. The female cast includes Ama Qamata, Khosi Ngema,&nbsp;Gail Mabalane, Natasha Thahane, and Cindy Mahlangu.</p>



<p><em>Blood &amp; Water</em> is set to hit your personal screens in May.</p>



<p>Netflix has also announced its next African original series, <em>JIVA!</em>, currently in production. It will be “a fun and energy-packed drama series” on a talented street dancer, and will be a local African production, from script to screen, with an all-African cast and crew. </p>


Tag: Netflix Original Series

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