iWorld
Netflix’s Reed Hastings skims $225 mn in stock sale
MUMBAI: Netflix co-chief executive officer Reed Hastings has collected $225 million from a stock sale, the latest in a series of such transactions the billionaire has made this year, totalling $616 million.
A Bloomberg Quint report states that Hastings has cashed in enough moolah in 2020 to produce all four seasons of marquee series The Crown, all six seasons of Peaky Blinders, or the equivalent of about 4.7 million annual Netflix subscriptions, based on average monthly subscription costs. The sales, the latest of which was on 21 December, were made as part of a trading plan believed to boost the streamer-producer’s content creation budget.
Netflix stock has climbed 63 per cent this year as the streaming service has added 28.1 million new subscribers during the first nine months of 2020, accelerated by increased demand for at-home entertainment during the Covid2019 pandemic. In fact, Hastings has seen his wealth increase about $2.2 billion this year to $6.4 billion, going by Bloomberg Billionaires Index, which also pegs him as the 120th richest person in the US.
Hastings sold 437,311 shares of Netflix stock on 21 December 2020 at an average price of $527.26 a share. The total sale was $230.6 million. Prior to this, he sold 213,346 shares on 23 November 2020 at the average price of $482.51. The price of the stock has increased by 9.29 per cent since.
For the uninitiated, Hastings started his first tech business, Pure Software, in 1991, before going on to co-found Netflix with Pure colleague Marc Randolph in 1997.
Another former Netflix director Anthony Wood, who is also the co-founder of Roku Inc, has made hay during the pandemic. Wood’s wealth has doubled in the last three months as sales of the firm’s streaming players increased 57 per cent in the third quarter from a year earlier.
iWorld
Netflix launches Playground app to bring games and interactive play for kids
Interactive games, fresh series and returning favourites aim to blend play and learning
MUMBAI: Netflix is doubling down on kids entertainment with a major expansion of its family-friendly slate, anchored by the launch of Netflix Playground, a new interactive app designed to blend play with storytelling.
Aimed at children aged eight and under, the app allows young viewers to engage with familiar characters from shows like Peppa Pig and Sesame Street through games and activities, all within a safe, ad-free environment. The app is already live in select markets and is set for a wider global rollout later this month.
The move signals Netflix’s push to turn passive viewing into a more immersive experience. Alongside the app, the platform has unveiled a mix of new titles and returning favourites, including fresh episodes of Trash Truck and The Creature Cases, as well as a new preschool series, Young MacDonald. Popular titles such as CoComelon Lane and Ms. Rachel are also set to expand with new seasons and episodes.
Speaking about the strategy, Netflix vice president of animation series and kids and family tv John Derderian said, “We’re building a world where kids can not only watch their favourite stories, they can step inside them and interact with their favourite characters. We’re creating a seamless destination for discovery, learning, and play.”
The expanded offering also leans heavily on convenience for parents, with offline access, curated content, and robust parental controls designed to ensure a safe and tailored viewing experience. Features such as profile locks, content filters, and activity tracking aim to give families greater control while allowing children to explore independently.
The timing is strategic. Kids and preschool content has emerged as one of Netflix’s most-watched categories in recent years, making it a key battleground in the streaming wars. By combining games, education, and entertainment, the platform is looking to deepen engagement and build long-term loyalty among younger audiences.
With interactive play now joining its content arsenal, Netflix is not just streaming stories but inviting kids to step inside them, turning screen time into something a little more hands-on.
