Representatives from Women in the Arts & Media Coalition, Inc., and the Writers Guild of America, East, are circulating a letter asking people to lobby the New York State Assembly in Albany, NY, so that its members will support and vote on a proposal which would modify the very successful production tax credit slightly so it would provide an incentive to networks and producers to hire women and people of color to write and direct television in New York.
However, time is running out in the current legislative session. The NY Assembly and Senate are scheduled to wrap their sessions this week. Supporters of the diversity proposal would like to have both houses vote on the measure before the current legislative sessions conclude.
Click here to email the Speaker of the NY Assembly asking that the bill be voted on immediately. This email has been created by the WGA East.
Netflix’s subscriber growth is slowing, but its profit and stock price are still surging
Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service's crackdown on freeloading viewers is tapering off.
The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year.
Even so, the company's revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.
Netflix ended September with 282.7 million worldwide subscribers – far more than any other streaming service.
The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company's revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.
The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix's stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company's shares so far this year.
"We had a plan to reaccelerate growth and we delivered on that plan," Netflix co-CEO Ted Sarandos said during a video call discussing the results.
The past quarter's subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch... Read More