Fame
Why Netflix is hiking up prices in Australia
If you’re an Aussie that loves Netflix, expect to pay more for your streaming
Australian Netflix users will be forced to pay more, following a recent price hike.
From Thursday, the standard plan will go up by a dollar while the premium plan will jump $3.
New members who sign up from Thursday will be the first to fork out more, while the update to subscription costs will roll out to existing members in the coming weeks.
The exact timing of the price change will depend on the subscriber’s billing cycle, with all members expected to be on the updated schedule over “the next few months”.
Netflix’s basic plan will remain at its current price of $10.99.
Investing in more content
In a statement, a spokesperson for Netflix stated the rise in subscription prices will be used to invest in more content.
“We know Australians have never had more choices when it comes to entertainment, and we’re more committed than ever to delivering an experience that exceeds their expectations,”
the spokesperson said.”
The price for the standard plan changes from $15.99 a month to $16.99 a month.
The price for the premium plan will go up from $19.99 to $22.99 a month.
“Members tell us how much they value the breadth and variety of catalogue, and we’re updating our prices so that we can continue to invest in more shows and films.”
When did Netflix last jack up prices?
The last time Netflix changed subscription prices in Australia was in September last year – when the prices for the platform’s basic and standard plans were raised.
The premium plan has not increased in price for Australian subscribers in two years.
Netflix offers tiered subscription services that restrict — or enhance — the number of screens and devices used at the one time.
Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.
The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.
The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.
However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.
The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.
Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.
Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.
The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.
Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.
The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.
The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.
This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.
Philanthropic YouTuber MrBeast, known for his outlandish and extravagant charity stunts, recently financed the construction of 100 wells in Africa, providing clean drinking water to thousands of people.
While the philanthropic gesture is commendable on the surface, it has ignited a wave of controversy and criticism from various quarters.
Critics argue that MrBeast’s approach, although well-intentioned, might not be the most sustainable solution to Africa’s water crisis.
They question the long-term viability of these wells, raising concerns about maintenance and local ownership. Some have even labelled it as a publicity stunt, arguing that it merely scratches the surface of a much deeper issue.
On the other hand, MrBeast’s supporters laud his efforts in raising awareness and mobilising his enormous following to contribute to a worthy cause. They argue that any effort to alleviate the water crisis is a step in the right direction.
In the end, whether MrBeast’s 100 wells in Africa are a game-changing philanthropic success or a mere spectacle remains a subject of intense social debate.
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