| |
| Hey Insiders, Today we look at the data behind Netflix's surge in new subscribers, Amazon Prime streaming's plans for an ad-supported tier, and Instagram's new Twitter-like app. We've also included a few charts in today's issue. Let us know what you think by hitting reply or visiting our Inside Tech community page. Beth
p/beth-duckett | |
| 1 | | Netflix has seen a surge in sign-ups following its recent password sharing crackdown in the U.S. According to analytics firm Antenna, Netflix in late May had the four single biggest days of U.S. sign-ups since it started tracking the data over four years ago. More: - On May 23, Netflix began notifying users about the new policy, which limits accounts to a single subscriber and people in their household.
- The streaming service saw the largest four days of user acquisition ever recorded by Antenna, with nearly 100,000 daily sign-ups on May 26 and May 27.
- The average daily sign-ups during the period reached 73,000, which is 102% higher than the previous 60-day average.
- Since May 23, the ratio of sign-ups to cancels is up 25.6% compared to the past 60 days, according to Antenna.
Zoom out: - For those sharing accounts, Netflix offers two options: transferring outside profiles to a new paid membership, or adding an extra outside member to a household for $7.99/month.
- The crackdown is expected to add $1.6B in revenue per year in new subscriptions for Netflix.
Source: Antenna |     | |
| 2 | | The news: Amazon is reportedly planning to launch an ad-supported tier for its Prime Video streaming service, joining the likes of Netflix and Disney, according to the WSJ. Background: Amazon is in the early stages of discussions, so details on pricing and launch date are not yet available. Prime Video is part of Amazon Prime, which costs $15 per month or $139 per year, or can be subscribed to separately for $9 per month. Amazon already has ad-supported streaming experience with Amazon Freevee (previously IMDb TV), a free streaming service supported by limited ads. What the numbers say: Netflix has seen relative success with its own ad-supported tier, which gained almost 5 million monthly active users within six months of its launch. Over 25% of new signups in eligible countries opt for the ad-supported option, according to co-CEO Greg Peters. Why it matters: By introducing an ad-supported subscription option, Amazon aims to attract more subscribers and compete with rivals. The tier could boost Amazon's revenue as the streaming industry experiences a slowdown in new sign-ups. According to Insider Intelligence, Amazon is the third-largest player in digital ad revenue in the U.S., trailing Google and Meta. Amazon generated $9.5B in ad services revenue last quarter, up 21% YoY. 
| | | |
| A message from our sponsor, Pendulum. |  | | The powerful probiotic Halle Berry swears by to improve her sugar & carb metabolism Meet Metabolic Daily, the multi-strain probiotic blend that helps your body do more with the food you eat. As award-winning actor Halle Berry says, “Metabolic Daily is a probiotic that everyone can take to help maintain healthy blood sugar and curb sugar cravings.” Halle reached out to Pendulum—the company that makes Metabolic Daily—after experiencing life-changing results taking Metabolic Daily which led to her newest role as their Chief Communications Officer. Formulated with the next-generation strain Akkermansia muciniphila, Metabolic Daily optimizes how your body metabolizes sugar and carbs to support a healthy weight. And if that wasn't enough, it also helps break down fiber and supports beneficial postbiotics and hormones, such as butyrate and GLP-1. The result? Less sugar cravings and crashes—just balanced, sustained energy throughout the day. Don’t wait—Inside readers get 20% off the first month of any Pendulum membership with code INSIDE20. Shop Now | |
|
| 3 | | Meta has showcased a standalone Instagram app, which is set to rival Twitter. The text-based app for conversations was unveiled to employees during an all-hands meeting by Chief Product Officer Chris Cox, who positioned it as Meta's response to Twitter. More: - The app, which combines elements of Instagram and Twitter, allows users to sign in using their Instagram credentials.
- It auto-transfers a user's followers, handle, bio, and verification to the new app.
- A decentralized app, it reportedly has a central feed where users can share text posts of up to 500 characters, along with links, photos, and videos.
- The platform, internally codenamed P92, is currently being tested among influencers and creators.
- Meta, Instagram's owner, is in discussions with high-profile figures, such as Oprah Winfrey and the Dalai Lama, to use the app, according to Cox.
| | | |
| 4 | | Apollo, Reddit's top third-party app, is shutting down due to new Application Programming Interface (API) fees imposed by the platform. Developer Christian Selig confirmed that Apollo for Reddit will cease to exist by the end of this month. More: - In April, Reddit announced it would charge companies to use its API while keeping it free for developers creating user-assisting apps, bots, and non-commercial academic research.
- To avoid charges, Selig said he will delete Apollo's API token on the evening of June 30, PST.
- Selig revealed that the API cost per user exceeds the premium plan price paid by users of his freemium app.
- To operate the app, he estimates he would have to pay over $20M a year.
- Apollo has 900,000 active daily users, while mobile app analytics firm Data.ai estimates global downloads of Apollo for Reddit at 5 million.
Zoom out: - As a result of the shutdown, some Reddit users said they will no longer use the platform.
- Some Reddit communities, including r/gaming and r/todayilearned, plan to block posts or go dark on June 12 to protest the API charges.
- Reddit declined to comment in reports but said CEO Steve Huffman will host an AMA (Ask Me Anything) on Friday covering the API updates.
| | | |
| A message from our sponsor, Notion. |  | | There’s a better way to work. Notion combines project management with your docs and knowledge base, so you can stop jumping between tools and stop paying too much for them too. - Consolidate your work: Track tasks, write specs, and organize team knowledge in one workspace to ship faster.
- Customize your setup: View projects as a timeline, table, or kanban. Filter, sort, and build automations. Notion is infinitely configurable so you can work the way you want.
- Track every detail: Organize sprints, list subtasks, and catch dependencies so nothing falls through the cracks.
- Powered by AI: Automate tedious work with Notion AI. Write user stories, summarize notes, find action items, and more.
Get Notion Projects free | |
|
| 5 | | Spotify is testing "Your Offline Mix," a feature that automatically downloads recently played songs for offline listening. While CEO Daniel Ek shared a screenshot of the feature, he didn't provide a release date or further details. More: - Similar to YouTube Music's "Smart Downloads," Spotify's feature auto-selects and downloads a mix of recently played songs for when there's no internet connection, such as flying.
- According to Ek's screenshot, the offline mix can store at least three-and-a-half hours of music.
- Some users report already seeing the Spotify feature in their apps.
- Those without access can manually download the "Your Top Songs" playlist as a backup option.
- Spotify recently surpassed 500 million monthly active users.
Related: - On Monday, Spotify said it is laying off 200 employees in its podcast division as part of a strategic realignment.
- The cuts account for around 2% of its workforce and follow a previous 6% staff cut in January due to a decline in ad spending.
| | | |
| 6 | | LinkedIn is the latest company to launch an AI tool for ad campaigns, responding to the growing trend of marketers adopting generative AI. More: - LinkedIn's tool suggests advertising headlines and text copy using OpenAI models.
- It leverages data from a marketer's LinkedIn page and Campaign Manager settings to offer AI-generated suggestions.
- While currently only available to select North American advertisers in English, the tool will expand to more regions and languages soon.
Zoom out: - Meta, Google, and Amazon have also jumped on the trend of generative AI in advertising, launching or exploring similar tools in the past few months.
- A survey by Salesforce and YouGov found that marketers believe generative AI could save them an average of five hours of work a week.
| | | |
| 7 | | QUICK HITS - One of "The 7 Best Startups You Can Buy on StartEngine Right Now" according to InvestorPlace is open for investment again — join their funding round before it closes.*
- A U.S. district court has issued a summons for the crypto exchange Binance's CEO, Changpeng Zhao (CZ). The move came after the U.S. Securities and Exchange Commission (SEC) filed a 136-page complaint against Binance and CZ over U.S. law violations with 13 charges.
- Google contractors in the Bay Area are organizing a union after they said they were reassigned from page content creation to work on Google's AI chatbot Bard.
- Trading firm Citadel Securities is actively seeking to license software from AI startups focused on large-language models or acquire stakes in them, sources told The Information.
- Try AI-powered project management in Notion to ship faster.*
*This is a sponsored post. | | | |
| Upcoming Events | | JUN
14 | | Monthly Meditation guided by Nicholas Whitaker | | | | | | | JUN
15 | | Transform your product roadmap with AI @ A.Team's Generative AI Salon* | | | | | | | JUN
20 | | Contract Negotiations 101 with Mathew Kerbis | | | | | | * This is a sponsored event | | | |
Term of the Day Amalgamation: Amalgamation is the process of combining two or more companies into one entity to improve business strategies or goals. Question of the Week Have you ever had to compromise your values for your career? Join the conversation |
INSIDE TECH LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at Beth.Duckett@inside.com. | | This newsletter was edited by Eduardo Garcia | |
| |
| |
|
| |
|
| |
