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Wednesday, April 20, 2022

The Daily Money: How Netflix lost 200,000 subscribers in 3 months

Today's top stories from USA TODAY Money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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The Daily Money
 
Wednesday, April 20

New to the newsletter? Subscribe to The Daily Money to get the best consumer and financial news from USA TODAY delivered to your inbox every weekday morning. And give our news-inspired Spotify playlist a listen. It features every song quoted here.

Happy Wednesday, Daily Money readers. Jayme Deerwester here with you.

Not so fast? DOJ may appeal mask decision

The Justice Department said Tuesday that it plans to appeal a federal judge's ruling that voided the federal mask mandate for travelers if the Centers for Disease Control and Prevention believe masking remains necessary.

"The department continues to believe that the order requiring masking in the transportation corridor is a valid exercise of the authority Congress has given CDC to protect the public health," the Justice Department said in a statement. "If CDC concludes that a mandatory order remains necessary for the public's health after that assessment, the Department of Justice will appeal the district court's decision."

Airlines and other travel-related companies dropped their mask mandates after U.S. District Judge Kathryn Kimball Mizelle's ruling Monday and the Transportation Security Administration's decision to no longer enforce the mandate.

📰  More headlines you can't miss 📰

SPRING BREAK IN UKRAINE: JustAnswer CEO and family spent vacation delivering aid to employees affected by invasion.

BRIDAL BARGAIN:  California woman goes viral for $47 wedding dress, $500 nuptials.

ELON MUSK, COUCH SURFER?  Tesla CEO says he doesn't own a home and bunks with friends.

TECH TIP:  How to change Facebook passwords if someone's tried accessing your account.

24 HOURS, 5 RESTAURANTS:  Our sprint through the San Diego food scene.

📺 Netflix: Not so chill after latest quarterly report 📺

Netflix has suffered the first loss in worldwide subscribers in a decade, deepening troubles that have been mounting since a surge from a locked-down audience during the pandemic's early stages began to fade.

How bad is it? Management predicted a conservative gain of 2.5 million subscribers. Instead, Netflix reported its customer base fell by 200,000 subscribers during the January-March period, according to a quarterly report released Tuesday. 

"The big COVID boost to streaming obscured the picture until recently," co-CEO Reed Hastings said in a letter to investors. Another culprit is widespread password sharing, he said. Hastings estimated that Netflix is being shared with over 100 million households worldwide, with about 30 million in the U.S and Canada.

Hastings also hinted that new features that would force users to pay in order to share passwords with people outside their home would be coming to the U.S. within a year.

🎧 Mood music 🎧

Today's track, Macklemore and Ryan Lewis' "Thrift Shop," goes out to that cash-conscious California bride, who managed to pull off an elegant wedding for the cost of a car payment.

"I am stunting and flossin'. And saving my money and I'm hella happy."

LISTEN WHILE YOU WORK: You can hear just about every song quoted in the newsletter on the Daily Money Mood Music playlist on Spotify.

Person sitting at a reception desk. The Netflix logo is in the window above.
Netflix is not chill: It lost 200k subscribers over the past 3 months
Netflix is reeling from growing competition from Apple and Walt Disney, account sharing and other challenges, the streaming giant said Tuesday.
Justice Department to appeal mask mandate if CDC approves
April 19, 2022:  Travelers wearing protective mask
Bride goes viral for spending just $47 on dress for California wedding
Joel and Kiara Brokenbrough wedding photo.
Tech CEO and his family spend spring break in war-torn Ukraine
JustAnswer CEO Andy Kurtzig spent nearly a week go
Elon Musk: 'I don't even own a home right now'
Elon Musk, Tesla CEO, attends the opening of the T
Millions are closer to student loan debt forgiveness with new changes
President Joe Biden announces a ghost gun rule as
How to change Facebook password if your account's been accessed
Not only should you use different passwords for al
24 hours, 5 restaurants: Our sprint through the San Diego food scene
Two fish tacos from Lola 55 Tacos & Cocktails in S
Headed back to the office? Here's how it will cost you.
Katherine Oakes of Mesa, Arizona is photographed a
Shop all the best gifts for Mother's Day 2022
Best Mother's Day gifts 2022
 
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