Business

Netflix Canada to offer a cheaper plan with ads

Published

2 years ago

October 13, 2022

Netflix is giving Canadian viewers the option of a cheaper monthly subscription plan — as long as they’re willing to sit through commercial breaks.

The streaming giant says it has marked Nov. 1 to launch its new ad-supported streaming tier in Canada for $5.99 per month.

The price is significantly less than Netflix’s ad-free plans, which start at $9.99 and go as high as $20.99 a month.

In exchange for the savings, Netflix says subscribers will sit through an average of four to five minutes of ads per hour to be played before and during their TV shows and films.

Netflix explores ads, crackdown on password sharing as subscribers fall

6 months ago

1:57

Streaming giant Netflix is considering cheaper subscriptions with commercials and a crackdown on password sharing between households after recording a steep drop in subscribers.

However, not everything in the Netflix library will be available on the ad tier, and subscribers won’t have the option to download titles for remote viewing.

Netflix says the pricing for its existing plans will not be affected by the introduction of the ad tier.

Battle for viewers

The company’s new streaming option comes as the service looks to attract cost-conscious customers and find a new revenue stream from advertisers who it says will have access to “younger viewers who increasingly don’t watch linear TV.”

In the United States, several of Netflix’s competitors have already launched ad-supported tiers that trade off occasional commercial breaks for a lower subscription price.

HBO Max, Peacock and Paramount Plus are among the companies that have the option stateside, while Disney Plus has outlined plans to begin offering its own version in the coming months.

Netflix is rolling out the advertising tier in Canada two days before most other major markets. It will introduce the option in countries that include the United States, Brazil, France and the United Kingdom on Nov. 3.

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Business

Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

Published

18 hours ago

November 6, 2024

Anne Joseph

TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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