Netflix beat Wall Street expectations

by THEFUTURE.TEAM

October 21, 2024

Netflix beat Wall Street expectations on both earnings and revenue. The company added 35 million paid subscribers on a year-over-year basis, sending the streaming giant’s stock higher.

KEY FACTS

Netflix reported earnings of $5.40 per share and revenue of $9.82 billion in the third quarter of 2024 ended Sept. 30, beating analysts’ consensus estimates of $5.12 and $9.77 billion, respectively, according to FactSet.
The company saw a roughly 14% jump in global subscribers to 282 million from 247 million in the third quarter of last year – although subscriber growth slowed as the platform added just over 5 million paid members last quarter, compared to 8 million in the second quarter of 2024 and 8.76 million in the third quarter of 2023.
Revenues are up 15% year-on-year.
After months of strong subscriber growth (largely stemming from the introduction of a cheaper advertising tier in May and the implementation of password-sharing measures), the stock hit a record high of $736 last Friday, surpassing its previous high of $733. placed just the day before.

KEY STORY

Analysts had expected the price hike to support strong revenue growth as the explosion in subscriber growth from a crackdown on password sharing began to wane. Netflix’s last major price increase in the US was in October 2023, when it raised the “Basic” plan to $11.99 per month and the “Premium” plan to $22.99 per month. Netflix Originals continued to drive engagement in the third quarter with shows like Emily in Paris Season 4, The Perfect Couple, according to a UBS analyst report.

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EU Adopts New Package Travel Rules With 14-Day Refund Requirement

by THEFUTURE.TEAM

April 3, 2026

The Council of the European Union adopted updated rules on package travel, introducing stricter requirements for refunds, transparency and consumer protection across member states. Updated provisions revise the existing directive and define obligations for travel providers offering bundled services such as flights, accommodation and transfers.

Clarifying The Package Travel Directive

The updated directive clarifies the definition of package travel and excludes certain linked travel arrangements from its scope. Coverage applies to services sold as a single product, including combinations of transport, accommodation and additional services. This revision standardizes how travel products are classified and clarifies rights and obligations for both providers and consumers at the point of purchase.

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Enhancing Transparency And Consumer Rights

New rules require providers to disclose key information before and during travel, including payment terms, visa requirements, accessibility conditions and cancellation policies. These disclosures aim to reduce disputes and improve consumer awareness. Defined refund timelines include a 14-day period for cancellations due to extraordinary circumstances and up to six months in cases of organiser insolvency. The measures address gaps identified in earlier versions of the directive.

Ensuring Accountability And Trust In Travel Services

Organisers must implement complaint-handling systems and provide clear information on insolvency protection under the updated framework. These provisions aim to improve accountability across the travel sector. Previous disruptions, including the collapse of Thomas Cook and travel restrictions during COVID-19, exposed weaknesses in refund processes and consumer protection. Updated rules respond to those issues.

Implications For Cyprus And The Broader Industry

Tourism accounts for approximately 14% of Cyprus’s GDP, with package travel playing a central role in visitor flows. Major operators such as TUI and Jet2 provide structured travel offerings that support demand. Such operators contribute to revenue stability and help extend the tourism season by securing transport and accommodation in advance. Greater regulatory clarity may support continued sector growth.

A Model For Future Consumer Protection

Clearer rules on vouchers, refunds and insolvency protection now apply across the European Union. These measures aim to reduce consumer risk in cross-border travel. Implementation across member states will determine the impact on both consumers and travel providers. The framework may influence future regulatory approaches in the sector.

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