British lawmakers to question TV executives amid Media Bill debate
Executives from several major television companies and streaming services will appear before British lawmakers on Tuesday.
Netflix ($NFLX) is an international, subscription-based television and movie service based in Los Gatos, California. The company operates a global streaming service with thousands of TV shows and movies, including some originals, as well as a direct-to-home DVD rental service. As of January 2023, the company had over 231 million subscribers worldwide.
Executives from several major television companies and streaming services will appear before British lawmakers on Tuesday.
The free streaming service captured 1.1 percent of the domestic television audience in May.
The company is reportedly considering an event that will see Formula 1 drives compete in a golf tournament.
The report reveals a sharp increase in Netflix subscriptions after the password-sharing crackdown last May, but doesn’t indicate Netflix’s churn rate for the same period.
The vote came after members of the Writers Guild of America urged shareholders to reject the proposal.
The move comes as AMC Networks pulls back on content spending with a focus on making more hit series.
Netflix is cracking down on password sharing, telling freeloaders to pay for their own account or get lost.
Executives say the strategy will likely lead to a dip in subscribers, but is better for the company over the long term.
A crackdown on password sharing in Latin America caused Netflix to lose paid customer relationships there.
Netflix is ending its DVD-by-mail rental business after nearly 25 years, the company affirmed on Tuesday.