Netflix posted its third-quarter earnings on Thursday and beat Wall Street predictions for both subscribers added and overall revenue. Meanwhile, analysts forecast that the streaming giant will soon raise its prices.
Netflix’s revenue for the third quarter was $9.825 billion, slightly more than the $9.769 billion analysts had predicted. The company also added 5.1 million subscribers, well over the 4 million additional users investors expected.
“Engagement, our best proxy for member happiness, remains healthy,” the report noted. “Through the first three quarters of 2024, view hours per member amongst owner households (the clearest view of engagement trends post the introduction of paid sharing) increased year over year.”
Related: Netflix Updated Its Famous Employee ‘Keeper Test’ in a New Culture Memo — Here’s What’s Changed
Netflix currently has over 600 million users with each one spending about two hours per day on the platform, per the report.
Thursday’s earnings report may not mean subscribers will avoid a price hike. The streaming company is increasing prices in Spain and Italy on Friday, and analysts from investment firms including Oppenheimer & Co. stated before the earnings release that a price hike may be on the way for U.S. users, too.
Netflix currently costs $6.99 per month for a standard plan with ads, $15.49 per month for a standard plan with up to two devices watching at the same time, and $22.99 per month for a premium plan with up to four devices supported.
Related: How to Hire Like Netflix — ‘This Is a Completely Different Way of Thinking About Human Capital’
Opinions expressed by Entrepreneur contributors are their own.
Here’s something I’ve always believed: the better you know your team members, the easier it is to give them the support and freedom they need to be successful in their work.
At my last company, all of my direct reports were with me for at least eight years. We went through a significant portion of our lives together. My team members lost family members, had legal issues and fertility issues, got married, moved and divorced, and I saw it all. I also saw how all these things affected their performance in the office — some were temporary changes, while others were forever.
Those experiences also shaped the way I currently run FutureFund, the free fundraising platform for K-12 school groups that I founded. Here’s my advice on building strong working relationships to set your organization up for better teamwork and more success.
Some managers don’t want to know about their team’s personal lives or experiences, but I think that’s a mistake. Asking appropriate questions and getting people to open up not only builds trust; it also helps you understand what they’re working with — and what they need to work more effectively.
Here’s an example: I had a first-time manager who was recently promoted, but soon afterward, his performance began to drop.
There are two ways to deal with this kind of thing when it happens. The first one is to give an ultimatum. You tell the person that their performance needs to improve or that they have to go.
The second is to ask them if everything is okay. That’s what I did, and he told me his cancer was back. He was a veteran and had been exposed to some nasty things in Iraq, giving him health problems. Suddenly, the fact that his performance was slipping wasn’t the issue anymore. Our priority became getting him the support he needed — and by being able to help him, we were able to help the business.
10 years later, this employee was still with us, and his work was great again. But I never would have been able to ascertain that if I had taken the other approach.
Really getting to know someone means asking the right questions and listening carefully to the answers. And it’s never too early to start — in fact, you can (and should) begin doing this from the moment you sit down to interview a candidate.
Related: I’ve Interviewed Over 2000 Candidates — Here Are the 2 Questions I’ve Asked the Best Hires
Knowing your people isn’t the same as keeping tabs on them. Breathe down a person’s neck, and they’ll come to resent you. But show them you care, and you’ll empower them. It’s a simple difference but an important one.
Mentorship plays a critical role in this process. I’ve written extensively about the role of mentors in business, but the key is to see yourself as a coach — someone who is actively involved in your team’s success.
Adopting this perspective keeps your feedback constructive instead of punitive and reassures your direct reports that you have their best interests at heart. However, it also requires some vulnerability on your part.
Related: Be a Coach, Not a Referee — How to be a Good Mentor and Manager from a Coaching Perspective
One aspect of effective mentorship is setting yourself up as someone people trust. Not only do you need to be willing to learn about their lives, but you may also need to be comfortable opening up about yours as well.
One thing we do as an executive team when we get together is share a personal story. It’s usually something about family, and it often involves a personal struggle. It can even result in tears.
It’s not structured or forced. We just go around, and everyone has the opportunity to share as much or as little as they want. It is the single best activity I’ve ever done to feel close to the people I work with.
Everyone is showing a degree of vulnerability by sharing something private, and it takes a lot of courage. It also creates a level of understanding, respect, and friendship that I’ve never seen in any other activity that we’ve done.
When you take the time to really get to know your team — and let them get to know you in turn — incredible things can happen. Many of these have a value that is easy to quantify: a better understanding of each individual’s capacity, opportunities for more focused mentorship and coaching, and a sense of what risks people are comfortable taking.
Related: Why You Have to Let People Fail Now So They Can Succeed Later
But there are benefits you can’t measure as well, like loyalty and trust. People don’t just give you these things when you tick enough boxes as an employer. They need to feel like you mean something to them.
Ask the right questions, listen to the answers, and don’t be afraid to open up and share about your own life as well. It might put you outside your comfort zone at first — but as any successful leader will tell you, that’s where growth happens.
Nvidia is the second most valuable company in the world, with a market cap of over $3 trillion. At market close on Monday, shares of the AI chipmaker hit an unprecedented high of $138.07 before falling to $131.32 at the time of writing.
Nvidia’s performance is tied to strong demand for its AI chips. Nvidia CEO Jensen Huang stated recently that demand for Nvidia’s Blackwell AI chip is “insane” and “everybody wants to have the most.” Nvidia expects to ship enough of the new chip to make several billion dollars.
Nvidia was briefly on the edge of unseating Apple as the most valuable company in the world on Monday. Last week, Nvidia shares grew by $400 billion in five days, more than the entire market cap of Costco.
Huang also said last month that demand was his biggest worry, or what kept him up at night.
“We have a lot of people on our shoulders, and everybody is counting on us,” he said, adding that having access to Nvidia’s technology was a “really emotional” point for the company’s clients.
Nvidia counts the biggest tech players among its clients: Amazon, Meta, Microsoft, and Google contribute to more than 40% of its revenue. Nvidia’s earnings beat analyst expectations last quarter, with revenue growing 122% year-over-year, the fourth quarter in a row of growth over 100%.
Microsoft has invested billions in AI and plans to reopen a nuclear power plant in Pennsylvania to power the technology. Still, Marc Benioff, CEO of enterprise competitor Salesforce, says that Microsoft’s efforts aren’t enough and that Microsoft has actually done a “tremendous disservice” to the AI industry.
“When you look at how Copilot has been sold to our customers, it’s disappointing,” Benioff said in an episode of the Masters of Scale Rapid Response podcast earlier this month. “It doesn’t work, it spews data all over the floors, it doesn’t deliver value to customers. I haven’t found a customer who has transformational work with Copilot.”
Benioff said that Salesforce customers were “so confused” because of how Microsoft had delivered AI.
Related: Here’s How the CEOs of Salesforce and Nvidia Use ChatGPT in Their Daily Lives
“Copilot is really the new Microsoft Clippy,” Benioff said, referring to the paperclip-shaped office assistant that Microsoft discontinued in 2007. “I don’t think Copilot will be around, I don’t think customers will use it.” Salesforce is a Microsoft competitor.
Marc Benioff. Photographer: David Paul Morris/Bloomberg via Getty Images
Microsoft says that companies like Visa, Honda, and Pfizer are using Copilot.
Microsoft has made several high-profile AI investments, including a $13 billion investment in OpenAI.
Related: Salesforce CEO Says the Company’s New AI Agents Could Replace Human Jobs
Opinions expressed by Entrepreneur contributors are their own.
In the competitive world of tech, Amanda Lannert, CEO of Jellyvision, stands out not only for her unconventional career path but also for her dynamic leadership style. Under her guidance, Jellyvision has evolved from a gaming and digital agency into an HR tech company that now serves 25% of Fortune 500 companies. Despite the success, Lannert’s leadership mantra remains rooted in constant improvement. As she puts it, “There is nothing at Jellyvision that can’t be improved. There is nothing about me that can’t be improved. So, where do we want to get started?”
Related: Inside a Sport Marketing Giant’s Playbook for Connecting Big Brands With Rabid Fans
Lannert’s journey with Jellyvision began in 2000 when the company was navigating a rapidly changing tech landscape. With little prior experience in technology and gaming, Lannert initially joined Jellyvision hoping to learn and contribute. However, her adaptability and problem-solving skills led her to the role of CEO.
Her story exemplifies the importance of being open to change and willing to pivot when faced with new challenges. One of her key pieces of advice for leaders is to recognize that, “The world is full of change. There is no more stability. You might as well do what you love with people you like and respect.”
A pivotal moment in Jellyvision’s transformation was the shift from creating CD-ROM-based games to developing interactive educational software. As Lannert explained, this move was guided by the desire to engage and educate users on complicated subjects like health benefits—a space often neglected in terms of user-centric design. Today, Jellyvision’s flagship product, ALEX, uses engaging, personalized interactions to help employees understand and choose their benefits, a process that can save companies significant costs and boost employee satisfaction.
Related: How Military Service Taught the CEO of Arc’teryx to Lead with Precision and Passion
Lannert’s approach to leadership is both refreshing and grounded in authenticity. She emphasizes the need for transparency and integrity in business dealings. “You can do a bad deal with good people, but you can’t do a good deal with bad people,” she shared, highlighting the value she places on character over profit. For aspiring leaders, Lannert suggests focusing on surrounding yourself with individuals who will challenge you and offer truthful feedback. “Find someone who loves you and will tell you the truth,” she advises.
Ultimately, Lannert stresses that a company’s success is built on its people. “Jellyvision is just a business that was, is, and always will be only as good as the people that we have,” she says. Creating a culture of openness and creativity is central to her leadership strategy. Lannert encourages other CEOs to embrace change and never settle for mediocrity. Her willingness to adapt, paired with her belief that everyone has room for improvement, sets a powerful example for leaders looking to drive growth and innovation in their own organizations.
Related: How This Latina CEO Created the Fastest-Growing Hispanic Media Company in the U.S.
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
As weather patterns become increasingly unpredictable, staying informed and prepared is more important than ever—especially for business professionals managing deadlines, meetings, and travel plans. Weather Hi-Def Radar Storm Watch Plus is a high-definition weather radar app that gives you real-time updates, precise alerts, and future forecasting.
With a 4.6-star rating and over 75,000 reviews on the App Store, this app has earned its reputation as a reliable tool for staying on top of the elements. And now, through October 27, you can grab a lifetime subscription for just $29.97 (reg. $199)—the best price available online.
Whether you’re tracking incoming hurricanes like Helene and Milton or just trying to stay dry during a surprise rainstorm on your vacation, this app gives you the real-time data and notifications you need to stay safe and make informed decisions.
With Weather Hi-Def Radar, you’re not just looking at a forecast—you’re seeing it happen live. This app provides real-time radar images and future animations so you can track the development of storms, temperature changes, and precipitation as they unfold.
Get instant alerts when lightning strikes or precipitation is detected near you, keeping you ahead of any storm. Whether at the office, on the road, or working remotely, knowing when to expect a downpour or thunderstorm allows you to plan accordingly. You can also track dangerous weather conditions like tornadoes, hurricanes, wildfires, and even earthquakes with customizable notifications sent directly to your device.
The app also provides various weather layers, including cloud cover, temperature, wind speed, water surface temperatures, and more. These detailed overlays give you an in-depth understanding of current and future weather conditions, making this tool invaluable for professionals who need precision forecasting.
You can save multiple locations, so whether you need to check the weather for your home, your office, a client’s location, or your weekend getaway spot, you can do it all from one app.
Don’t miss this terrific price on a lifetime of weather preparedness with the Weather Hi-Def Radar Storm Watch Plus app for just $29.97 (reg. $199) through October 27.
StackSocial prices subject to change.
The average Social Security payment is increasing by $48 per month next year.
The Social Security Administration announced the 2.5% cost-of-living adjustment (COLA) for 2025 on Thursday, marking the smallest increase since 2021. The average COLA was 2.6% across the past decade, with the 2024 change at 3.2%, according to the administration.
The close to 68 million Social Security beneficiaries and almost 7.5 million people receiving Supplemental Security Income payments will see their checks increase by 2.5% on January 1, 2025, and December 31, 2024, respectively.
The increase is based on inflation across July, August, and September. The consumer price index for July showed that inflation reached a three-year low at 2.9%. August’s inflation rate was even lower, at 2.5%, and September’s was 2.4%. Based on lower inflation numbers, the Federal Reserve cut the federal funds rate, which impacts everything from mortgage rates to credit card interest rates, for the first time in four years in September.
The COLA takes the average inflation among urban wage earners and clerical workers from July to September and calculates the difference between this year’s average inflation and last year’s to arrive at a percentage.
Some groups don’t approve of calculating the COLA as it is right now. The Senior Citizens League (TSCL) advocates basing the calculation on the CPI-E, which measures inflation for Americans ages 62 and up, instead of the CPI-W, which measures inflation among urban wage earners and clerical workers.
“This year represents another lost opportunity to grant seniors the financial relief they deserve by changing the COLA calculation from the CPI-W to the CPI-E, which would better reflect seniors’ changing expenses,” TSCL executive director Shannon Benton stated in a press release.
TSCL estimated that the average Social Security check will increase by $48 from $1,920 to $1,968. That may not be enough, says AARP CEO Jo Ann Jenkins.
“Even with this adjustment, we know many older Americans who rely on Social Security may find it hard to pay their bills,” Jenkins stated in a press release. “Social Security is the primary source of income for 40% of older Americans.”
Opinions expressed by Entrepreneur contributors are their own.
The very definition of entrepreneurship implies many twists and turns. Founders start companies based on an idea, form a business plan around what they believe that concept’s future to be, press their foot down on the gas pedal and off they go. Along the journey, founders are forced to make many quick but impactful decisions with limited resources and foggy knowledge about how their outcomes will play out. Essentially, they are building the base of a house, having no idea what its roof will eventually look like.
Many of these early-stage decisions are foundational and become even more significant as the company itself matures. Due to arbitrary and self-imposed goals and timelines, founders may overlook critical components to building a lasting business. Haste can be met with regret later on in the company lifecycle, costing time, human and financial resources and, potentially, the company. In fact, according to the United States Bureau of Labor Statistics, approximately 10% of startups fail within the first year. However, that percentage increases over time, with an eventual long-term failure rate of 90%. Ultimately, the choices we make today could take years to manifest, and the results could prove detrimental.
Related: I Made These 3 Big Mistakes When Starting a Business — Here’s What I Learned From Them
Here are eight critical actions that founders overlook when starting their companies:
There are multiple structures that companies can take early on, including an LLC, C-Corp and S-Corp. Each has its own advantages and limitations, and it is important that founders match their company structure with their financing and tax goals. For example, an LLC would be a structure amenable to a convertible note and consisting of private investors. To properly determine the best structure for their enterprise, founders should outline their investment strategy and consult an attorney versed in company formation.
Intellectual property should be protected at the onset of company formation and certainly before a product is launched in market. Companies should solicit an IP attorney to trademark the company and product names, logo designs and any defensible product designs. In addition, especially for technology companies, patents should be filed prior to product launch. While the costs may seem expensive, especially early on, IP can end up being the primary source of value for a company later on.
While the foundation stage may seem premature to acquire a board of advisors, it could actually prove advantageous and even critical. The reality is founders alone cannot cover all of the skill sets and experience bases needed to ensure a positive future outcome. Even at the earliest funding stages, “team” is a core component to investors betting on a company’s success. Advisors can fill in the skill gaps that are initially missing and serve as an important determinant of an investor’s choice to invest. Therefore, founders should assess their teams’ competencies and deficiencies and officially onboard advisors to fill in those experiences/skill gaps.
Related: Don’t Overlook This Crucial Business Function If You Want Your Startup to Succeed
John Wooden, coach of the UCLA Bruins basketball team, who is considered the greatest coach in NCAA history, taught his players how to put their shoes and socks on in a very specific manner. When asked why, he stated, “The little things matter. All I need is one little wrinkle in one sock to put a blister on one foot and it could ruin my whole season.” Winning the entrepreneurship game starts with intention, founders doing everything they can to purposefully put themselves in the best position for success. Beyond that comes a bit of luck and a lot of fortitude, but it starts with proper preparation.
In May, Melinda French Gates resigned as co-chair of the Bill and Melinda Gates Foundation and announced that she was dedicating $1 billion over the next two years to women’s organizations.
On Wednesday, part of that vision unfolded — French Gates launched Action for Women’s Health, a $250 million fund for non-profits supporting women’s mental and physical health across the globe.
“Women’s health continues to be an afterthought, and it’s impacting the health of our families, our communities, our economies,” French Gates said in a promotional video for the fund. “Thankfully there are so many amazing organizations around the world working to change that.”
Melinda French Gates. Photo by Taylor Hill/FilmMagic
Action for Women’s Health will help fund grassroots organizations tackling women’s health issues, French Gates explained. Each awardee will receive between $1 million and $5 million and undergo multiple rounds of review before securing the funding. Winners will be announced by the end of next year.
Here’s what the fund is looking for and how to apply.
Applicants must focus on women’s mental or physical health and meet four criteria: Be impactful, scalable, equitable, and feasible.
Impact, for example, is measured by the non-profit’s demonstrated contributions. A score of 1 would be no contributions and an ineffective, impractical approach while a score of 5 would be earned through examples of contributions, and an approach with proven effectiveness.
An organizational readiness tool is available to help applicants assess if they meet the requirements. The form goes through criteria like who can apply — individuals, for-profits, LLCs, and B-Corps are not eligible.
It also asks if the non-profit’s central focus is women’s mental or physical health and if they have at least two years of audited financial records, in addition to other questions.
Action for Women’s Health is now accepting applications, due by January 10, 2025. Organizations have to register their intent to apply by December 3, 2024.
Related: Melinda French Gates Says This Mindset Hack Helped Her Overcome Imposter Syndrome
