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$54BN wiped from Netflix – how do the other streamers stack up?

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Shares in Netflix have slumped dramatically, wiping more than $50 billion off the firm’s market value

The streaming giant revealed a sharp drop in subscribers and warned millions more are set to call it quits.

Netflix faces intense competition from streaming rivals, but was also hit after it raised prices and leaving russia.

From all this, It’s believed a major chunk up-to $54 billion has stripped from Netflix’s market value.

It also plans to crack down on password sharing, estimating that more than 100 million non-paying households watch the service this way.

Netflix’s shares plunged 35 per cent on Wednesday, and fell a further in opening trade on Thursday.

Even though Netflix reported its first subscriber loss in more than a decade… it’s not the case for all.

HBO and HBO Max grew to almost 77 million subscribers at the end of the first quarter this year.

Disney investors aren’t having a year as bad as Netflix shareholders, but both companies have been plagued by subscriber concerns following the surge during stay-at-home orders.

Not quite as bad as Netflix but shares of Disney have dropped nearly 15 per cent so far this year.

That makes Disney one of the worst performers in the Dow.

Despite subscriber woes, Netflix remains the world’s leading streaming service.

Netflix isn’t short of fans, with millions across the world regularly streaming their favourite Netflix originals every day

One fan was so inspired by the famous Netflix intro, he recreated it.

Stop-Motion Animator Kevin Parry made the Netflix intro with just 30 dollars worth of yarn.

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Why Amsterdam’s Schiphol Airport will cap passenger departures

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Amsterdam’s Schiphol Airport is capping the number of departures until next year

The airport says airlines “are not happy about it” but ultimately had no choice.

It follows a string of airport chaos over the busy summer period in The Netherlands and Europe more broadly.

Caps are expected to extend through the end of March. But authorities will review the situation again towards the end of this year.

The aviation business continues to be plagued by labor shortages on the back of the pandemic.

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Food delivery drone crashes into powerlines

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Thousands of people have been left without power after a food delivery drone crashed into powerlines

Power was restored after 45 minutes after the drone made a pre-cautionary landing.

‘Wing’ is the company behind the incident who use drones for their food delivery services.

A spokesperson for Energex, the company who supplies power to the 300-affected homes says drones can be dangerous.

It’s believed these instances are very rare and the meal was still hot when emergency crews arrived at the scene.

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Huge win for millions caught up in Optus data breach

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Major news for those impacted by the Optus data incident, with authorities working around the clock to get to the bottom of the saga

Is this a sigh of relief for Optus customers?

It is a major win for those who have been impacted by the massive Optus data breach.

Australian Prime Minister Anthony Albanese has confirmed the telco giant will cover the costs of replacing affected customers’ passports, a move he has labeled as entirely appropriate.

The hacker released the personal details of more than 10,000 people on an online forum, before removing the post.

This is evidently a costly move for Optus, but one which many Australians have been calling for.

On the other side of the coin, it will also be a massive undertaking for the nation’s passport office which has been slammed recently as Aussies head back overseas post-Covid.

This comes as the Australian Federal Police launches an operation to support the data breach victims.

AFP Assistant Commissioner Justine Gough says affected customers will receive “multi-layered protection from identity crime and financial fraud”.

As the investigation continues, Australian authorities will also be leaning on their international counterparts for assistance, including America’s FBI.

It’s a massive operation and one that many Australians and indeed people right around the world are watching closely.

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