Sign the petition to tell Netflix: Stop the corporate greed, stop raising prices, NOW!
Dear MoveOn member,
Netflix is raising prices on subscriptions again, despite record profits.1
There is no reason that greedy corporations should pay less in taxes than working people, but, in 2021, Netflix paid a tax rate of only 1.1% on $5.3 BILLION in profit, avoiding over $1 billion in taxes.2 Yet still, Netflix raised prices by 10.7% in January of 2022, and now they’re raising their prices again.3 Enough is enough! We must come together to stop this corporate greed.
Will you sign the petition to demand that Netflix stop the price hikes NOW?
Netflix’s newest price increase follows its unpopular and restrictive policy change regarding password sharing, requiring customers to pay an extra $7.99 to share their password with someone outside of their household.4 Netflix needs to know that consumers have the power—and we're not going to allow them to get rich while they slash services and raise costs.
The reality is, when one streaming giant like Netflix raises its prices, the others often follow. Disney+, Hulu, Apple TV+, Discovery+, and AMC+ are also raising prices on some of their monthly subscriptions.5 It’s unacceptable.
Click here to sign the petition to demand that Netflix stop raising prices on subscriptions.
Netflix is implementing a price hike despite anticipating 5 BILLION dollars in free cash flow, partly due to writers and actors going on strike because Netflix and other streaming giants were refusing to offer them a fair contract.6 So essentially, writers and actors with the Writers Guild of America (WGA) and Screen Actors Guild (SAG-AFTRA) went months without work or pay while Netflix got richer.
It’s corporate greed on the backs of writers, actors, production staff, and Netflix subscribers, plain and simple. It must end. Sign the petition to tell Netflix: Stop the corporate greed, and stop the price hikes on subscriptions, NOW!
The massive wealth inequality that we see between the ultrawealthy and everyday working people is reflected in the entertainment industry too.
Streaming companies like Netflix make BILLIONS of dollars in corporate profits each year and pay top executives hundreds of MILLIONS of dollars combined, while exploiting writers, actors, production staff, and streaming subscribers. This is one of the many reasons why we have to come together to stop these price hikes.
Thanks for all you do.
–Jensine, David, Corinne, Ankur, and the rest of the team
Sources:
1. "Netflix is planning to raise prices... again," The Verge, October 3, 2023
https://act.moveon.org/go/185290?t=8&akid=369317%2E40999114%2EB-2dxu
2. "Netflix Posts a Record $5.3 Billion in Profits and a Federal Tax Rate of Just 1.1 Percent," Institute on Taxation and Economic Policy, February 1, 2022
https://act.moveon.org/go/185291?t=10&akid=369317%2E40999114%2EB-2dxu
3. "Netflix and Cable Prices," Internet Economist, January 17, 2022
https://act.moveon.org/go/185292?t=12&akid=369317%2E40999114%2EB-2dxu
4. "Netflix Password Sharing—Everything You Need To Know," Forbes, February 9, 2023
https://act.moveon.org/go/185293?t=14&akid=369317%2E40999114%2EB-2dxu
5. "Streaming services keep getting more expensive: all the latest price increases," The Verge, November 2, 2023
https://act.moveon.org/go/185294?t=16&akid=369317%2E40999114%2EB-2dxu
6. "Netflix: Lower Content Spend Due To Strikes Leads To Free Cash Flow Boost As Streamer Takes Swipe At Rivals Over Ratings Transparency," Deadline, July 19, 2023
https://act.moveon.org/go/185295?t=18&akid=369317%2E40999114%2EB-2dxu
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