Business

Netflix Raises Prices on All Streaming Plans in US

HOUSTON FORWARD TIMES — Netflix subscribers in the United States are about to see a price hike across all subscription tiers

Published

6 years ago

January 17, 2019

Oakland Post

By Chelsea Lenora White

Netflix subscribers in the United States are about to see a price hike across all subscription tiers.

The service’s most popular plan will increase from $11 to $13 per month for HD streaming. Netflix’s most expensive plan, which offers 4K content and up to four simultaneous streams on different devices, will increase from $14 to $16. And the service’s basic plan, which doesn’t offer HD, will raise from $8 to $9.

These price hikes will affect all new subscribers immediately, according to AP, with current subscribers set to experience the hike over the next three months.

Netflix CEO Reed Hastings has said in the past that incremental price hikes will be needed as the company invests more money in original series and licensing popular programming.

“Price is all relative to value,” Hastings said in late 2017, the last time American subscribers saw an increase. “We’re continuing to increase the content offering and we’re seeing that reflected in viewing around the world.”

Original series and licensed content don’t come cheap. Netflix reportedly spent $100 million on retaining the streaming rights to Friends, one of the streaming service’s most popular series, according to various reports. The streaming service is also investing heavily in building its own exclusive library. It had approximately 700 original shows in 2018 alone and is expected to develop more this year.

As other streaming services like Hulu — and new platforms like Disney+, WarnerMedia, and NBCUniversal’s recently announced service — start to flood the landscape, Netflix will have to continue investing in original content and films to keep subscribers interested. Netflix currently has 58 million domestic subscribers, according to the company’s most recent investors meeting, with close to 80 million international subscribers.

Developing a slate of foreign TV series and films, like the Golden Globe winning Roma, directed by Alfonso Cuarón, is also a top priority for the company. Netflix has amassed approximately $8 billion in longterm debt as of September 2018 — a cost of investing so heavily and so quickly in original content. Jon Landgraf, FX Networks president, told a group of reporters in 2016 that Netflix’s rapid growth seemed unsustainable.

“I think it would be particularly bad if anyone in one company, and I don’t care what company that is, if they were able to seize a 40 or 50 or 60 percent market share in storytelling,” Landgraf said at the time. “They can’t double again and double again and double again because the entire earth’s surface would be covered in Netflix shows in 20 years.”

This article originally appeared in the Houston Forward Times.

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Activism

OCCUR Hosts “Faith Forward” Conference in Oakland

The conference featured Congresswoman-elect Lateefah Simon, who will begin her term representing California’s 12th Congressional District in the U.S. House of Representatives in January.
Simon was honored with a special recognition from OCCUR for her civic and nonprofit leadership.

Published

37 minutes ago

November 24, 2024

Oakland Post

President and CEO of OCCUR addresses the audience at OCCUR Faith Forward 2024 Conference at Resurrection Church. Photo by Carla Thomas.

By Carla Thomas

The Oakland Citizens Committee for Urban Renewal (OCCUR) hosted its Faith Forward 2024 Conference on Nov. 8 at Resurrection Church in Oakland.

The conference featured Congresswoman-elect Lateefah Simon, who will begin her term representing California’s 12^th Congressional District in the U.S. House of Representatives in January.

Simon was honored with a special recognition from OCCUR for her civic and nonprofit leadership. During her remarks, She commended nonprofits making a difference, and shared how she looked forward to representing Oakland and surrounding areas.

Simon also encouraged attendees to continue fighting despite their concerns about the presidential election results. She also cautioned that there may be resources that are discontinued as a result.

“We know the assignment. We have many of the resources right within our own community, and we will be ok,” Simon assured the audience.

The conference led by OCCUR president, Dr. David B. Franklin, also featured panels on funding opportunities, case studies, economic development, sustainable housing solutions, and organizing for action.

“In order for organizations serving the community to thrive, everyone must collaborate, share resources, and not operate in silos,” said Franklin.

Speakers included San Francisco Foundation CEO, Fred Blackwell, San Francisco Foundation FAITHS Program Director Dr. Michelle Chambers, and Kingmakers of Oakland Founder, Chris Chatmon. Guests were briefed on how Kingmakers of Oakland has gone from a budget of zero to several million and is set to acquire 200 acres of property to expand their programs serving young boys. The leadership at the San Francisco Foundation encouraged nonprofits, churches, and community leaders to work together, especially when donations and funding numbers are lower.

Ben Bartlett of Berkeley City Council; Trevor Parham, CEO of Oakstop; and CEO of the Lao Family Community Development, Inc., Kathy Chao Rothberg, inspired attendees with stories about their journeys in the nonprofit sector.

Additional speakers included Deka Dike, CEO of Omatachi; Landis Green, CEO of DGS Strategies; Sasha Werblin, Director of Economic Development, LISC Bay Area; Oakland City Councilmember Treva Reid; Faith and Justice Organizer of East Bay Housing Organizations, Ronnie Boyd; and Todd Bendon, Executive Director of Faith in Action East Bay; among others.

The event allowed community leaders, faith-based leaders, and nonprofits to gain Insight on how to strengthen their profits financially, and communally.

OCCUR has served the community for over 70 years supporting the wellbeing of historically marginalized communities with collaborative strategies. For more information visit occurnow.org

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Activism

Bank of America Grants $200,000 to Richmond Housing Nonprofit

RNHS has provided housing services to Richmond residents since 1981. The organization develops, acquires, and/or rehabilitates single-family homes and housing developments in blighted or vacant lots in order to make them available as affordable homes for rent or purchase to low-income families.

Published

2 hours ago

November 24, 2024

Oakland Post

Photo by RDNE Stock via Pexels. Courtesy The Richmond Standard.

The Richmond Standard

Richmond Neighborhood Housing Services, Inc. (RNHS) was one of two Bay Area nonprofits awarded a $200,000 grant over two years from Bank of America’s Neighborhood Builders program.

The nonprofit also serves residents through education programs involving financial literacy programs, home loans, foreclosure prevention, and affordable rental counseling.

RNHS plans to use the $200,000 Bank of America grant to hire leadership staff, and to expand its Emerging Developers Program and Restoring Neighborhoods Program.

Through this grant program, RNHS will also benefit from comprehensive leadership training for its executive director and an emerging leader.

Since the Neighborhood Builders program’s inception in 2004, 59 nonprofits have been selected in San Francisco and the East Bay, with the bank investing nearly $12 million in philanthropic capital into these local organizations.

Along with RNHS, San Francisco-based mental health nonprofit RAMS also won a $200,000 grant this year.

“We’re proud to include RAMS and RNHS as the 2024 Neighborhood Builders,” said Gioia McCarthy, president of Bank of America San Francisco-East Bay. “Countless individuals, families and neighborhoods have felt the profound impact that these 59 Neighborhood Builder nonprofits have had in our area over the past two decades.”