Netflix reports largest quarterly loss of nearly one million subscribers
2 years, 5 months ago

Netflix reports largest quarterly loss of nearly one million subscribers

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix has reported a loss of about 970,000 subscribers in the last quarter — a “better-than-expected” result — according to the streaming giant which projected it could lose about two million users in the three months between April and July. Although the company’s stocks plummeted by about 37 per cent in April after the projection that it might lose nearly two million subscribers in the following quarter, the less severe loss reported for the period, combined with a better outlook of growth in the July-September period, boosted the streaming giant’s battered stocks up by seven per cent. Asked what drove the better-than-expected results, Netflix chief Reed Hastings said execution “really well on the content side”, with “lots of titles”, leading to “lots of vieweing”, slowly paid off. “We’re talking about you know losing one million instead of losing two million so you know our excitement is tempered,” the Netflix chief said.

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Netflix says ad-supported plan now has 70 million monthly active users
1 month, 4 weeks ago

Netflix says ad-supported plan now has 70 million monthly active users

LA Times  

Baltimore Ravens quarterback Lamar Jackson in action during the first half of an NFL football game against the Tennessee Titans in 2020 in Baltimore. Netflix said Tuesday that it had reached 70 million monthly active users on its ad-supported plan, two years after launching its cheaper subscription tier that includes commercials. Netflix said it had sold out of the in-game …

Netflix's Price-Hiking Dilemma: Will the Streaming Giant Raise the Price?
2 months, 3 weeks ago

Netflix's Price-Hiking Dilemma: Will the Streaming Giant Raise the Price?

Live Mint  

Netflix delivers strong third-quarter results, with an operating profit of $2.9 billion, exceeding Wall Street expectations. The company's stock rose 5% following the announcement, indicating a positive outlook despite some concerns about price hikes. While Netflix's ad-supported plan remains competitive, the company is exploring alternative revenue streams, including increased membership and the return of traditional advertising. Despite the challenges of …

Netflix adds 5 million subscribers and beats Wall Street’s profit expectations
2 months, 3 weeks ago

Netflix adds 5 million subscribers and beats Wall Street’s profit expectations

LA Times  

Lily Collins as Emily clutches Lucas Bravo as Gabriel in an episode of Netflix’s “Emily in Paris.” Streaming giant Netflix has proved there are still legs left in its membership growth, reporting 5 million new subscribers in its third quarter for a total of 282.7 million global members. Netflix’s performance in the third quarter was buoyed by original programming, including …

Netflix’s subscriber and earnings growth on the rise as password-sharing crackdown pays off
5 months, 3 weeks ago

Netflix’s subscriber and earnings growth on the rise as password-sharing crackdown pays off

The Hindu  

Netflix’s subscriber and earnings growth accelerated in its latest quarter as the video streaming service benefits from a crackdown on freeloading viewers, an expansion into advertising and an acclaimed programming lineup. Given that the competition in video streaming seems to be ramping up again, Investing.com analyst Thomas Monteiro called “the lowering of guidance an intelligent strategy for keeping excitement put …

Netflix’s subscriber and earnings growth gather more momentum as password-sharing crackdown pays off
5 months, 3 weeks ago

Netflix’s subscriber and earnings growth gather more momentum as password-sharing crackdown pays off

Associated Press  

Netflix’s subscriber and earnings growth accelerated in its latest quarter as the video streaming service benefits from a crackdown on freeloading viewers, an expansion into advertising and an acclaimed programming lineup. Given that the competition in video streaming seems to be ramping up again, Investing.com analyst Thomas Monteiro called “the lowering of guidance an intelligent strategy for keeping excitement put …

Netflix Sees Biggest Drop In User Addition As Password Sharing Issues Take A Toll
5 months, 3 weeks ago

Netflix Sees Biggest Drop In User Addition As Password Sharing Issues Take A Toll

News 18  

– Netflix likely added the fewest number of subscribers in five quarters during April-June as sharp gains following a crackdown on password sharing ebbed and viewer attention moved to summer sporting events including the Euro soccer tournament. Netflix's original shows such as the historical romance "Bridgerton" and the limited series "Baby Reindeer" – based on comedian Richard Gadd's experience with …

Some Netflix users report price changes in their subscription plans
6 months ago

Some Netflix users report price changes in their subscription plans

The Hindu  

Some Netflix users are reporting that they are being compelled by the platform to switch to other subscription models that are more expensive or those that include ads, as the platform winds down its basic ad-free plan, reported The Verge. Netflix’s basic ad-free subscription was priced at $11.99 per month for U.S.-based users. Subscribers’ others options include the more expensive …

Netflix fans upset over new adverts that cut characters off mid-sentence
6 months, 2 weeks ago

Netflix fans upset over new adverts that cut characters off mid-sentence

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix subscribers are upset that …

Will Netflix get into the TV news business? Here are the pros and cons
7 months ago

Will Netflix get into the TV news business? Here are the pros and cons

LA Times  

After embracing sports and commercials, is news the next step for Netflix? After diving into sports, news could be a logical next step for the company as it seeks to become viewers’ one-stop shop for TV viewing. These are not firm lines in the sand.” Still, veterans of the TV news business have some advice for Netflix: don’t do it. …

Netflix hits 40 million users for ad-supported plan
7 months, 3 weeks ago

Netflix hits 40 million users for ad-supported plan

The Hindu  

Netflix said on Wednesday its ad-supported tier has reached 40 million global monthly active users, from 5 million a year earlier, a sign that its push to attract new users with the cheaper plan is paying off. Netflix's ad-tier plan costs $6.99 per month, compared with monthly plans of $9.99 from Warner Bros Discovery's streaming service Max and $7.99 for …

Netflix wants us to stop obsessing over subscriber numbers. What that says about the company
8 months, 2 weeks ago

Netflix wants us to stop obsessing over subscriber numbers. What that says about the company

LA Times  

If you run a streaming service and you want Wall Street analysts and investors to stop caring so much about your subscriber numbers, you have a couple of options. Instead, Netflix would prefer that the market judge its business based on metrics including sales and free cash flow, which is a better indicator of the company’s overall health. And if …

Netflix now has nearly 270 million subscribers after another strong showing to begin 2024
8 months, 3 weeks ago

Netflix now has nearly 270 million subscribers after another strong showing to begin 2024

Associated Press  

Netflix gained another 9.3 million subscribers to start the year while its profit soared with the help of a still-emerging expansion into advertising, but caught investors off guard with a change that will make it more difficult to track the video streaming service’s future growth. The strategy resulted in Netflix adding 30 million subscribers last year — the second largest …

How Netflix survived the streaming wars to stay the subscription video king
10 months ago

How Netflix survived the streaming wars to stay the subscription video king

LA Times  

Four years ago, Netflix was faced with a formidable challenge to its dominance. “Their competitors are so desperate to make money, they’re giving this content to Netflix,” said Jeffrey Wlodarczak, chief executive of Pivotal Research Group. In January, the streamer announced it would become the exclusive host to WWE’s weekly pro wrestling show “Raw” in 2025, which analysts say will …

Netflix to remove its cheapest ad-free subscription – as password crackdown pays off
11 months, 2 weeks ago

Netflix to remove its cheapest ad-free subscription – as password crackdown pays off

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The holiday season gains - the biggest Netflix has posted in the fourth quarter - exceeded the …

Netflix’s gains 13M new global 4Q subscribers as it unwraps its best-ever holiday season results
11 months, 2 weeks ago

Netflix’s gains 13M new global 4Q subscribers as it unwraps its best-ever holiday season results

Associated Press  

SAN FRANCISCO — Netflix registered its third-consecutive quarter of accelerating subscriber growth in the final three months of 2023, closing out a comeback year that included a crackdown on viewers freeloading on the video-streaming service and a smattering of price hikes. Netflix signaled it will try to justify the higher subscription prices — and perhaps reel in more advertisers to …

Netflix's subscriber growth surges as streaming service unwraps best-ever holiday season results
11 months, 2 weeks ago

Netflix's subscriber growth surges as streaming service unwraps best-ever holiday season results

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix registered its third-consecutive quarter …

2024 Is Going to Be a Rough Year for TV
11 months, 4 weeks ago

2024 Is Going to Be a Rough Year for TV

Wired  

Numbers tell the story, even if they’re not precise. “About 130”—that’s how many fewer shows Netflix reportedly released last year versus 2022. “Several hundred”—the estimate of how many people Amazon is said to be laying off in the company’s Prime Video and MGM Studios divisions. “Even though unions secured huge victories, writers and actors have returned to an industry that …

Netflix says its ad-supported plan now has 15 million monthly active users
1 year, 2 months ago

Netflix says its ad-supported plan now has 15 million monthly active users

LA Times  

Netflix says its ad-supported tier has increased to 15 million global monthly active users a year after the plan’s launch. Netflix on Wednesday said its ad-supported tier has increased to 15 million global monthly active users a year after the plan’s launch, triple the amount that the Los Gatos, Calif.-based streaming video giant disclosed in May. Monthly active users would …

Netflix's password-sharing crackdown reels in subscribers as it raises prices for its premium plan
1 year, 2 months ago

Netflix's password-sharing crackdown reels in subscribers as it raises prices for its premium plan

The Hindu  

Netflix on Wednesday disclosed summertime subscriber gains that surpassed industry analysts’ projections, signaling the video streaming service’s crackdown on password sharing is converting former freeloaders into paying customers. This year’s subscriber inroads have been made despite entertainment labor strife centered in part on writers’ and actors’ complaints about unfairly low payments doled out by video streaming services such as Netflix. …

Netflix’s password-sharing crackdown reels in subscribers as it raises prices for its premium plan
1 year, 2 months ago

Netflix’s password-sharing crackdown reels in subscribers as it raises prices for its premium plan

Associated Press  

SAN FRANCISCO — Netflix on Wednesday disclosed summertime subscriber gains that surpassed industry analysts’ projections, signaling the video streaming service’s crackdown on password sharing is converting former freeloaders into paying customers. The $15.50 per month price for Netflix’s most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials. This year’s …

Netflix adds 9 million subscribers in third quarter despite Hollywood strikes
1 year, 2 months ago

Netflix adds 9 million subscribers in third quarter despite Hollywood strikes

LA Times  

A fighting scene from the Netflix series “One Piece,” which was released in the third quarter. Netflix added 9 million subscribers during the third quarter, the Los Gatos, Calif., streaming video giant said Wednesday, citing popular original shows and older licensed content, as well as the company’s crackdown on password sharing and its budding advertising business. During the third quarter, …

Netflix may tap price hikes after success of password-sharing crackdown
1 year, 2 months ago

Netflix may tap price hikes after success of password-sharing crackdown

The Hindu  

Netflix's crackdown on password-sharing likely boosted subscribers by about 6 million in the third quarter and the streaming pioneer is expected to set the stage for price increases when it reports earnings on Wednesday. The only profitable major streamer, Netflix has resisted joining rivals like Walt Disney in hiking ad-free prices this year and instead curbed password-sharing outside households to …

Netflix UK sales grow as it gains more and higher-paying subscribers
1 year, 2 months ago

Netflix UK sales grow as it gains more and higher-paying subscribers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix UK has revealed its …

Netflix signups remain high, fuelled by password-sharing crackdown
1 year, 4 months ago

Netflix signups remain high, fuelled by password-sharing crackdown

The Hindu  

Signups for Netflix in the United States remain elevated despite a fall from June's record high after the video-streaming pioneer's crackdown on shared passwords came into effect in May, according to data from research firm Antenna. Attracting new subscribers and retaining old ones has become a tough task in the last few years as customers now have a surfeit of …

Netflix users distraught after learning about the end of beloved series
1 year, 5 months ago

Netflix users distraught after learning about the end of beloved series

The Independent  

Sign up to our free IndyArts newsletter for all the latest entertainment news and reviews Sign up to our free IndyArts newsletter Sign up to our free IndyArts newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. More to come soon.” “Missed that this lovely and fun show is ending,” one fan …

Netflix’s subscriber growth surge signals that password sharing crackdown is paying off
1 year, 5 months ago

Netflix’s subscriber growth surge signals that password sharing crackdown is paying off

The Hindu  

Netflix enjoyed its biggest springtime spurt in subscribers since the early days of the pandemic three years ago, providing the latest sign that a recent crackdown on password sharing and the rollout of a cheaper subscription option are paying off. Money manager Louis Navellier said Netflix now appears “locked and loaded” again after going through a turbulent stretch that included …

Netflix’s subscribers surge after password-sharing crackdown
1 year, 5 months ago

Netflix’s subscribers surge after password-sharing crackdown

Al Jazeera  

Streaming giant says it added nearly 6 million customers after restricting the sharing of accounts between households. Netflix has announced the addition of nearly six million new subscribers following its crackdown on password sharing. Both figures marked an improvement in Netflix’s fortunes compared with the first quarter, when the entertainment company reported 1.75 million new subscribers and a profit of …

Netflix’s subscriber growth surges in a sign that crackdown on password sharing is paying off
1 year, 5 months ago

Netflix’s subscriber growth surges in a sign that crackdown on password sharing is paying off

Associated Press  

SAN FRANCISCO — Netflix enjoyed its biggest springtime spurt in subscribers since the early days of the pandemic three years ago, providing the latest sign that a recent crackdown on password sharing and the rollout of a cheaper subscription option are paying off. Money manager Louis Navellier said Netflix now appears “locked and loaded” again after going through a turbulent …

Netflix adds 5.9 million subscribers. Ted Sarandos says strike ‘not an outcome that we wanted’
1 year, 5 months ago

Netflix adds 5.9 million subscribers. Ted Sarandos says strike ‘not an outcome that we wanted’

LA Times  

Netflix saw a significant boost in new customers, thanks to its crackdown on password-sharing in more than 100 countries including the U.S., as well as its advertising-supported tier. The Los Gatos, Calif.-based streamer added 5.89 million subscribers in the second quarter, after pressuring nonpaying users to sign up for their own plans or risk losing access to their favorite Netflix …

Hollywood Strike: Netflix shielded by global crew, strong pipeline
1 year, 5 months ago

Hollywood Strike: Netflix shielded by global crew, strong pipeline

The Hindu  

Netflix investors will assess risks from the ongoing strike in Hollywood when the company reports quarterly results on Wednesday, but analysts said it was well positioned due to its solid pipeline of shows and international production crew. Netflix's international production capabilities are a "huge differentiator", and a lot of their content comes from countries that are not involved in the …

Netflix expands password-sharing crackdown worldwide
1 year, 7 months ago

Netflix expands password-sharing crackdown worldwide

Deccan Chronicle  

SAN FRANCISCO: Netflix on Tuesday expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to shore up revenue at the leading streaming television service. Netflix said early this year that more than 100 million households were sharing accounts at the service, "impacting our ability to invest in great new TV and films." As …

Netflix cuts DVD-rental business 25 years after it launched the company
1 year, 8 months ago

Netflix cuts DVD-rental business 25 years after it launched the company

Daily Mail  

Netflix is saying goodbye to physical DVDs 25 years after its mail service disrupted the movie rental industry irrevocably. 'Those iconic red envelopes changed the way people watched shows and movies at home — and they paved the way for the shift to streaming,' a Netflix statement reads. After 25 years, Netflix is saying goodbye to the feature that made …

Netflix reports mixed earnings as password crackdown set to expand
1 year, 8 months ago

Netflix reports mixed earnings as password crackdown set to expand

Live Mint  

Netflix Inc beat Wall Street earnings estimates for the first quarter but offered a lighter-than-expected forecast on Tuesday, demonstrating the challenges the mature streaming service faces in its pursuit of growth. Netflix earnings The company began rolling out its solution for password-sharing - offering a "paid sharing" option - in 12 countries in February but is delaying expansion. Netflix also …

Netflix to tighten restrictions on password-sharing
1 year, 8 months ago

Netflix to tighten restrictions on password-sharing

Live Mint  

Netflix is set to crack down on US customers who share their accounts with others, with plans to charge such users, in a move that could see an increase in growth in the latter half of the year. The streaming giant has been testing ways to reduce account sharing in Latin America, where it has already rolled out a plan …

Netflix reports a first-quarter burst in subscriber growth
1 year, 8 months ago

Netflix reports a first-quarter burst in subscriber growth

Associated Press  

SAN FRANCISCO — Netflix began the year with another burst in subscriber growth that eclipsed analysts’ projections for the third consecutive quarter, providing further evidence the video streaming service has regained its momentum after a jarring downturn in customers prompted a shake up. Although the subscriber increase was smaller than Netflix has historically reported for the first quarter, it was …

Netflix to end DVD-by-mail business. Execs explain ‘Love Is Blind’ snafu
1 year, 8 months ago

Netflix to end DVD-by-mail business. Execs explain ‘Love Is Blind’ snafu

LA Times  

Netflix’s DVD-by-mail service is coming to an end. “Our goal has always been to provide the best service for our members but as the business continues to shrink that’s going to become increasingly difficult,” Netflix co-Chief Executive Ted Sarandos wrote in a blog post. Popular Netflix series in the first quarter include action thriller “The Night Agent,” which has drawn …

Netflix cuts prices in some markets to lure more subscribers
1 year, 10 months ago

Netflix cuts prices in some markets to lure more subscribers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Netflix isn't changing its prices in any of its …

Disney lays off 7,000 as streaming subscribers decline
1 year, 11 months ago

Disney lays off 7,000 as streaming subscribers decline

Firstpost  

The job cuts follow similar moves by US tech giants dialing back from a hiring spurt that began during the height of the pandemic San Francisco: Entertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year. “Because things in a very competitive world …

Netflix password sharing crackdown could ban up to 100 million accounts
1 year, 11 months ago

Netflix password sharing crackdown could ban up to 100 million accounts

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix’s long-trailed crackdown on shared accounts is coming – and it predicts that …

Netflix subscribers will be unable to share password; new co-chief confirms
1 year, 11 months ago

Netflix subscribers will be unable to share password; new co-chief confirms

Hindustan Times  

Netflix Inc. co-founder Reed Hastings steps down as CEO after leading the company for more than two decades; he is succeeded by two long-time associates, Ted Sarandos and Greg Peters. Peters, the new co-CEO confirmed that the vast majority of Netflix subscribers who use the service but do not pay for it will be forced to do so in the …

Netflix Co-founder Hastings Steps Down as CEO as Company Adds Subscribers
1 year, 11 months ago

Netflix Co-founder Hastings Steps Down as CEO as Company Adds Subscribers

News 18  

Netflix Inc co-founder Reed Hastings said on Thursday he will step down as chief executive, handing the reins of the streaming service to longtime partner and co-CEO Ted Sarandos and the company’s chief operating officer, Greg Peters. ”But they’ve both managed incredibly well … so the board and I believe it’s the right time to compete my succession.” Hastings made …

Netflix not showing its new ad-free plan to some users: Know-why
2 years ago

Netflix not showing its new ad-free plan to some users: Know-why

India TV News  

Netflix, a streaming giant is reportedly hiding its cheapest ad-free plan from some users when they try to subscribe to the platform. Netflix launched the "Basic with Ads" plan on November 3 at $6.99 per month, compared to between $9.99 and $19.99 per month for an ad-free subscription. According to 9to5Mac, among the four ad-free plan options, the new ad-free …

Here's What Netflix CEO Reed Hastings Said About Having Ads On The Platform
2 years, 1 month ago

Here's What Netflix CEO Reed Hastings Said About Having Ads On The Platform

News 18  

Netflix Inc co-founder Reed Hastings said on Wednesday he was "wrong" to resist ads for his streaming service. Hastings said Hulu proved streaming services could support advertising, and offer consumers lower prices. Netflix has launched a new plan called “Basic with Ads” in 12 countries– Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, the UK and the US. …

Netflix nights still come wrapped in red-and-white envelopes
2 years, 1 month ago

Netflix nights still come wrapped in red-and-white envelopes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Netflix's trailblazing DVD-by-mail rental service …

Netflix confirms it will ask users to pay extra if they share their password with friends
2 years, 2 months ago

Netflix confirms it will ask users to pay extra if they share their password with friends

India Today  

Netflix took a sigh of relief after recording 2.4 million new subscribers in the third quarter of 2022. Meanwhile, Netflix has also introduced the new migration tool for users who don't want to pay the extra fee. The Migration tool "lets people using your account transfer a profile - keeping the personalized recommendations, viewing history, My List, saved games, and …

Netflix reveals plan to charge fees in password-sharing crackdown
2 years, 2 months ago

Netflix reveals plan to charge fees in password-sharing crackdown

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. “After listening to consumer feedback, we are going to offer the ability for borrowers to transfer their …

Netflix targets global TV ad market as next business to disrupt
2 years, 2 months ago

Netflix targets global TV ad market as next business to disrupt

The Hindu  

Netflix Inc. upended the global entertainment industry about a dozen years ago with a streaming video service that rendered network television programming schedules and movie screening times all but irrelevant. Netflix Co-Chief Executive Reed Hastings said that insight dawned on him after listening recently to former Disney CEO Bob Iger describe traditional TV as marching toward a precipice. Chief Financial …

Netflix rebounds from recent subscriber losses with 3Q gain
2 years, 2 months ago

Netflix rebounds from recent subscriber losses with 3Q gain

Associated Press  

SAN FRANCISCO — Netflix reversed its recent subscriber losses with a summertime gain that management is hoping to build upon with the upcoming launch of a cheaper version of the video streaming service that will include ads for the first time. Netflix now boasts 223 million subscribers, enabling the company to at least temporarily reclaim the mantle as the world’s …

Netflix gains 2.4 million subscribers, reversing losses
2 years, 2 months ago

Netflix gains 2.4 million subscribers, reversing losses

CBS News  

Netflix reversed its recent subscriber losses with a summertime gain that management is hoping to build upon with the upcoming launch of a cheaper version of the video streaming service that will include ads for the first time. The Los Gatos, California, company disclosed Tuesday that it picked up 2.4 million subscribers during the July-September period, a comeback from a …

Some good news for Netflix, with subscriber gains in the third quarter
2 years, 2 months ago

Some good news for Netflix, with subscriber gains in the third quarter

LA Times  

After two consecutive quarters of subscriber decline, Netflix said its prospects look brighter for the second half of the year as it prepares to launch a cheaper streaming plan with ads. For the record: This story was updated to correct the number of hours people watched “Dahmer — Monster: The Jeffrey Dahmer Story.” In its third quarter, Netflix’s “Dahmer — …

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