Netflix Slashes Subscription Prices In India To Lure More Customers
Netflix Inc. (NFLX) has slashed prices in India by as much as 60% as the streaming giant seeks to increase its market share in the Asian country, which has been dominated by Walt Disney Co.’s (DIS) Hotstar and Amazon.com Inc.’s (AMZN) Prime Video streaming services.
Netflix Mobile plan, which previously cost 199 rupees ($2.62), now has been priced at 149 rupees ($1.96).
The Netflix Basic plan, which permits streaming on any device, including phone, tablet, computer and TV, but caps the resolution at 480p, now costs 199 rupees ($2.62) in India, down from 499 rupees ($6.56).
Netflix Standard, a plan that allows users to watch video on HD resolution and permits two simultaneous views, now costs 499 rupees, down from 649 rupees ($8.53). Netflix Premium, which allows four simultaneous views and streams in UltraHD (4K) video quality, now costs 649 rupees, down from 799 rupees ($10.50). Existing subscribers on any tier will be able to switch to the new offerings, the company said.
This is not the first time that Netflix has offered lower priced plans in India. In 2019, Netflix had launched a 199 rupees “mobile only” plan in India, which was a global first.
Netflix currently has nearly five million customers in the country, compared to 46 million Disney Hotstar subscribers and 19 million Amazon Prime Video subscribers, according to researcher Media Partners Asia. Price-conscious users of India prefer Hotstar and Prime Video as it only costs roughly $20 a year.
RCI Hospitality Holdings Swings To Q4 Profit, Shares Up 10%
Shares of RCI Hospitality Holdings, Inc. (RICK) gained nearly 10% in extended session on Tuesday after the company posted a profit for the fourth quarter, as revenues nearly doubled.
RCI’s net income for the fourth quarter was $2.3 million or $0.26 per share compared to net loss of $2.8 million or $0.31 per share last year.
Revenues for the quarter surged to $54.9 million from $28.8 million last year.
RICK closed Tuesday’s trading at $62.76, up $0.87 or 1.41%, on the Nasdaq. The stock further gained $6.24 or 9.94% in the after-hours trading.
YouTube TV To Withdraw Disney Channels If Agreement Is Not Reached
YouTube TV viewers could lose access to multiple popular Disney channels from Friday due to payment issues, the streaming giant said through a blog post on Monday.
The Google Inc. (GGOGL)subsidiary has also added that it is trying to communicate with Disney to complete the payment to be able to stream the channels.
“Our ask of Disney, as with all of our partners, is to treat YouTube TV like any other TV provider – by offering us the same rates that services of a similar size pay, across Disney’s channels for as long as we carry them,” the company said in a the blog.
Disney, on the other hand, said to Variety, “We are optimistic that we can reach a deal and continue to provide their YouTube TV customers with our live sporting events and news coverage plus kids, family, and general entertainment programming.”
Disney has more than 10 channels that air on YouTube TV, including major channels like ABC News Live, Disney Channel, Disney XD, National Geographic, ESPN, ACC Network.
However, the streaming service has said that if it cannot reach an agreement with Disney, it will lower the subscription amount down $15 to $49.99 from $64.99. The blog went on to explain that Disney charges $13.99 for its bundle of channels.
YouTube TV has had a similar experience with NBCUniversal where the platform was in a similar situation and a deal was reached just days before the previous agreement collapsed. In another development earlier this month, YouTube reached an agreement with Roku to carry YouTube and its applications.
Elon Musk Sells Another 934K Tesla Shares For $906 Mln
Elon Musk is still not done selling Tesla Inc (TSLA) stock. According to two SEC filings on Monday, Musk has sold another $906.49 million worth of stock making the total amount of stock sold to a staggering $13 billion in a matter of one month.
According to the filing, the wealthiest man on earth has sold 934,091 shares and has bought back 2.13 million shares at a pre-agreed price of $6.24 per share. This price was agreed back in 2012. Whenever Musk has sold his stock, Tesla has lost ground in the market. In a 30-day period, the company has dropped 7%.
The transaction was reportedly a part of a trading plan under Rule 10b5-1, a plan that allows the insiders of the company to perform trades on their own share of company stock at a said time. Musk still has a lot of stock options that he has to exercise before August 2022.
The whole event started to roll down as Musk was blamed for shying away from his taxes and Musk announced after a Twitter poll in November that he would be selling more than 10% of his stock in Tesla.
The 2021 TIME’s Person of The Year is actually selling his stock in the company to cover for his buying spree as there are only a handful of months to exercise the stock options.
According to another SEC filing back in June, Musk held more than 170 million stock in the company with another 73.5 million in exercisable options, of which the CEO has to use 7 million left to exercise before August. This stock will cost Musk just $6.24, while Tesla is trading at $957.53.
FDA Approves Daré Bioscience’s Xaciato For Bacterial Vaginosis
The FDA has approved Daré Bioscience Inc.s (DARE) Xaciato for the treatment of bacterial vaginosis in females 12 years of age and older.
Xaciato, formerly known as DARE-BV1, is a viscous gel, which contains the antibiotic Clindamycin at a concentration of 2%, for a one-time vaginal administration with the help of a single-dose user-filled disposable applicator.
Bacterial vaginosis is not a sexually transmitted infection, but rather an overgrowth of bacteria naturally found in the vagina, which upsets the balance of the natural vaginal microbiome and leads to not only distressing symptoms of odor and discharge, but also increases a woman’s risk of preterm birth, infertility, and infections, said David Friend, Daré’s Chief Scientific Officer.
Xaciato marks the first FDA-approved product in Daré’s portfolio. The drug is expected to be launched in the U.S. in 2022. Meanwhile, partnering talks are ongoing to enable a successful U.S. market launch.
Bacterial vaginosis is said to affect roughly 21 million women in the U. S. Antibiotics are the mainstay of therapy and the clinical cure rates of the current approved medicines say, Lupin Pharma’s Solosec, Perrigo Co.’s Clindesse, and Exeltis’ Nuvessa, are in the range of only 37% to 68%. But Xaciato demonstrated a cure rate of 70% to 80% in clinical trials.
DARE closed Tuesday’s trading at $2.12, up 10.52%. In after-hours, the stock gained another 37% and was at $2.92.