Decisions must be made. US consumer prices are increasing at an alarming rate, with energy a major contributor. Homes are therefore becoming more expensive to heat. This comes as Netflix introduces a cheaper monthly plan for cost conscious consumers, which will be supported by ads. Netflix and chill? Maybe you don’t have to.

The lowdown

• 📈 Wall Street soars despite inflation numbers, but this may point to more volatility.

• 🎶 TikTok plans to expand its music streaming service, unsettling Spotify investors.

• 🚫 Liz Truss may reverse UK tax cuts announced in mini budget.

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Some Netflix plans will now have ads

Netflix announced it will introduce a cheaper, ad-supported plan in November. The new plan will include around five minutes of ads per hour, will offer lower video quality and will not include the entire Netflix catalogue – Netflix does not have the right to release some shows with ads.

After surging from 21 million subscribers in 2011 to 219 million subscribers in 2021, Netflix lost nearly 1 million subscribers from April to June 2022. Basic with Ads, as the new plan is called, is aimed at restarting subscriber growth by bringing cost conscious consumers to the platform.

While some may see the broken promise of no ads as an opportunity to dust off their DVD players, more may see it as an opportunity to dust off their pirate hats. And Plex, a company that sells media server software, is making the return very easy. While the software itself is legal, many use the software to upload copyrighted content and set up a micro streaming platform among friends.

The content we're consuming today

• Debate between Dan McCrum (FT and of Wirecard fame) and Fahmi Quadir (Safkhet Capital) on the disclosure of short positions.

• The Economist: It is becoming harder to take a sick day. ($)

Off-balance sheet items

• The podcast ‘No Such Thing as a Fish’ – Every Friday, researchers from the television show QI sit down and discuss their favourite facts.

The bottom line