Netflix Will Stop Providing Subscriber Forecasts Starting With Q1 2023

Todd Spangler NY Digital Editor Just over three years ago, Netflix unequivocally shot down the idea that it would ever roll out an ad-supported streaming service. “When you read speculation that we are moving into selling advertising, be confident that this is false,” the streamer said in its second-quarter 2019 investor letter. “We believe we will have a more valuable business in the long term by staying out of competing for ad revenue and instead entirely focusing on competing for viewer satisfaction.” Clearly, Netflix’s thinking about advertising has changed. Both Netflix and Disney+ are launching ad-based tiers this fall, seeking to broaden their addressable markets and tap into a new revenue stream as subscriber growth has slowed — in Netflix’s case, it lost 1.2 million in the first half of 2022, compared with a net gain of 5.5 million in the prior-year period.

Netflix co-CEO and chief content officer Ted Sarandos tossed cold water on hopes that the streamer’s recent deal with major cinema chains for Glass Onion: A Knives Out Mystery could be the start of something bigger.

Todd Spangler NY Digital Editor Despite rumors to the contrary, Netflix says it has no plans to stop dropping all episodes of a TV show at once for binge-friendly viewing. “We think our bingeable release model helps drive substantial engagement, especially for newer titles,” Netflix said in its Q3 shareholder letter, as part of announcing quarterly results Tuesday. “This enables viewers to lose themselves in stories they love.” The company’s comments come after the Puck newsletter last month reported that Netflix execs were mulling a change to binge strategy and release major titles on a weekly schedule. Netflix, which pioneered the practice of binge-releasing TV seasons in their entirety, said it’s sticking with that game plan.

Netflix is spending around $17B on content this year and next but has hinted that it may boost this after a strong quarter.

In a third-quarter earnings interview dominated by talk of advertising, top Netflix execs described it as a “sprint” to capture “a whole new audience” and a bid to woo advertisers affected by “the collapse of linear television.”

Netflix said today that its closely watched paid membership number is becoming “just one component” of total revenue growth, so as of the fourth quarter it will stop offering forward-looking subscriber forecasts.

Todd Spangler NY Digital Editor After two straight quarters of subscriber losses, Netflix returned to growth in the third quarter of 2022 — and told investors it’s expecting a strong Q4 to finish the year, even though it doesn’t expect big gains right away from the launch of its cheaper, ad-supported plans. The streaming giant reported 2.41 million net new paid subscribers in Q3, including a gain of 100,000 in the U.S./Canada region, to stand at 223.1 million worldwide as of the end of September. That handily topped Netflix’s previous forecast of a 1 million pickup for the period. For Q4, Netflix expects to gain 4.5 million new streaming customers, compared with 8.3 million in the year-earlier quarter. Netflix Basic With Ads is slated to launch in the U.S. on Nov. 3 and priced at $6.99 per month — three dollars less than the regular Basic plan. Similar ad tiers are also coming next month to 11 other countries: Australia, Brazil, Canada, France, Germany, Italy, Japan, Mexico, South Korea, Spain and the U.K.

last quarter that it would add 1 million subscribers, and it now sits at 223.09 million global subscribers. But Netflix also is looking up for the fourth quarter after moving up the launch of its ad-supported pricing tier to November, having unveiled the details of the cheaper plan that starts at as low as $6.99/month earlier in October, and it further suspects that it will reach 227.57 million for Q4. “After a challenging first half, we believe we’re on a path to reaccelerate growth.

Just weeks after the milestone debut of Thursday Night Football as a streaming-only franchise on Prime Video, Amazon and the NFL have announced plans for an annual game on the day after Thanksgiving, aka Black Friday.

Netflix has reportedly 'postponed' Prince Harry and Meghan Markle's documentary until next year following backlash to The Crown Season 5.

EXCLUSIVE: Rattled after attacks on Season 5 of The Crown, Netflix has decided to postpone its documentary series featuring Harry and Meghan, the Duke and Duchess of Sussex, until next year.

Todd Spangler NY Digital Editor Netflix wants to make it as simple as possible for people who have been using someone else’s account — possibly in violation of the company’s terms of use — to set up a separate paid membership. On Monday, Netflix is launching Profile Transfer, a feature that lets anyone on an existing account migrate their profile to a brand-new account while preserving all of their personalized recommendations, viewing history, My List, saved games and other settings. Profile Transfer, which Netflix says has been “much requested” by customers, will roll out to all members worldwide starting Monday. Users will be notified by email when Profile Transfer becomes available on their account.

Netflix staff have reportedly been left fearing "a line is being crossed" over plans for the The Crown to recreate Princess Diana's final moments before her tragic death in Paris in 1997.The fifth series of Netflix’s hit royal drama is set to launch on November 9, with audiences around the world already eagerly awaiting the upcoming instalment as it follows the lives of the royal family throughout the 1990s. The Night Manager actress Elizabeth Debicki takes over the iconic role of Diana from Emma Corrin while The Wire star Dominic West takes over the role of Charles from Josh O’Connor. However, it has been claimed that staff working on The Crown series six have allegedly been left feeling uncomfortable over the Netflix show's plans to recreate Diana's final moments as they fear "a line has been crossed".

The mammoth cast of Rian Johnson’s murder mystery sequel, Glass Onion: A Knives Out Mystery, sidestepped spoilers and jumped over plot lines as they presented their film Sunday morning at a London Film Festival press conference.

Todd Spangler NY Digital Editor After years of Netflix execs spurning the idea of serving up commercials to viewers, the streaming giant is flipping the switch on its first cheaper, ad-supported plan next month. Netflix Basic With Ads will launch in the U.S. on Nov. 3 at 9 a.m. PT, priced at $6.99 per month, the company announced. The cheaper plan will be available in 12 countries: Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, the U.K. and the U.S. It will first roll out in Canada and Mexico on Nov. 1. Basic With Ads will be $2 cheaper than Netflix’s Basic plan ($9.99/month in the U.S. currently), which provides the ability to stream on one device at a time. Previously, the Basic plan has not supported HD, but with the launch of the ad tier, Netflix will provide video quality of up to 720p HD for both Basic With Ads and the plan with no ads.

Netflix’ offer for a parcel of land at Fort Monmouth in NJ, where it wants to build a state-of-the-art production studio, was chosen as the top bid – a key step although not yet a final one.