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Netflix said it's raising the price for its most expensive streaming service by $2 to $23 per month in the U.S., and its lowest-priced, ad-free streaming plan to $12 — another $2 bump.
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The streamer plans to open physical stores — dubbed Netflix House — offering retail, dining and content-themed entertainment. It's unclear if they'll sell DVDs.
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Netflix first announced in March 2022 it would charge extra for password sharing, pointing to concerns that the practice was contributing to revenue loss.
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Consumers often make decisions about TV streaming platforms based on three factors.
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NPR's Michel Martin speaks with Bizzaro, the voice of Mochi from Netflix's Waffles and Mochi.
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The streaming service had forecast that it would lose 2 million subscribers. The less severe loss, combined with a projection of growth in July to September, helped lift Netflix's battered stock.
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This year's song of the summer comes to you from 1985.
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The decision follows the company's layoff of 150 employees in May and the loss of 200,000 U.S. subscribers in April, the first customer decline in over a decade.
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Yesterday, Netflix laid off some of its staff, many of them recently hired women of color. They were working on its new fan-focused website.
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The entertainment company estimates there are now 100 million households using someone else's account. Last month, it announced plans to start charging for password sharing.