Tag: netflix

BUSINESS

Netflix Strategy Yields Positive Result

U.S. based streaming platform Netflix says its new strategy of offering cheaper, ad-supported tier of membership has yielded positive result. The company says it’s seeing almost five million active users per month. Netflix launched this lower priced subscription option with commercials last November in 12 markets, including the U.S. It was designed to attract more customers and add a new […]

BUSINESS

Netflix Turns Its Back On 150 Workers

Netflix has laid off about 150 staff, just a month after the entertainment company said it was losing subscribers for the first time in a decade. The redundancies, announced by the streaming service on Tuesday, will mainly affect its US office in California.  They account for about two percent of its North American workforce. Netflix said the job losses were […]

BUSINESS

Netflix Takes Stock Beating

Netflix, the American subscription streaming service and production company’s stock plunged after news that the number of subscribers to the platform fell for the first time in over a decade. The stock plummeted 21 percent in after-hours trading, as Wall Street reacted to Netflix losing 200,000 subscribers in the first quarter and predicting further losses in the second quarter. The […]

BUSINESS

Netflix Set To Invest In Black-Owned Banks

Netflix has announced that it will be investing in Black-owned banks to help close the wealth gap between Black and White America. The media-services provider and production company headquartered in Los Gatos, California, plans to deposit two percent of its cash, or an estimated $100 million, into Black-owned financial institutions and community development organizations. The company argued that these institutions […]