Netflix has joined the Motion Picture Association of America (MPAA), reports the Hollywood Reporter. Netflix is the first streaming service to join the entertainment industry’s lobbying group whose members are Walt Disney Studios, Paramount Pictures, Sony Pictures Entertainment, Twentieth Century Fox Film, Universal City Studios, and Warner Bros Entertainment. The report adds that the MPAA will lose a member after Fox and Disney are merged, leading a possible decline in annual dues of $10-12 million. Its sources say that the MPAA is looking for new members, including Amazon, to gain memberships to the association. Where do we go from here? Netflix joining the MPAA signals a perception shift in the entertainment industry as Netflix has gone from being a DVD rental company to a streaming only service to one that produces films, TV shows and other content. Netflix produced its first piece of content in 2012, 7 years ago. This is not to say that Netflix has been able to turn a profit on its content: For its Q4FY19 quarter, international revenues stood at $2.1 billion, while revenues from paid memberships stood at $80.7 million. Paid net adds for the entire year were 33% higher than the 22 million net adds in 2017. The company reported revenues of $4.1 billion for Q4FY19, 27% higher YoY from $3.2 billion in Q4FY18. Netflix said that it accounted for 10% of TV screen time in the US. “In other countries, we earn a low percentage of screen time due to lower penetration of…
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