In consideration of the ongoing strikes by SAG-AFTRA and the WGA, the board of the Motion Picture Sound Editors (MPSE) has voted unanimously to waive dues payments for its members for the current year. As with other below-the-line talent, sound editors have been profoundly impacted by the stoppage of film and television production. The board is making this gesture in support of its members, many of whom are currently out of work, and to help them avoid having to make the difficult choice of maintaining their membership while experiencing economic hardship.
“We want our members to remain actively involved in our organization, and able to attend our educational seminars, Sound Advice webinars, and other events,” said MPSE president Mark A. Lanza. “We want our members to continue to hone their skills so that, once the strikes are settled, they can return to work at the top of their game as premier sound artists. Our mission is to promote our members and the craft of entertainment sound. Waiving dues at this challenging time is fully in keeping with that mission.”
MPSE is not union affiliated and has no position on the strike but they look forward to a quick and amicable resolution so that all parties can return to the work they love.
MPSE members who have not paid 2023-2024 membership dues will have them waived. Members who have already paid will have their dues credited to the following year.
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