Streaming takes a hike… Netflix added ~6M subs last quarter following its password crackdown, and last week it axed its cheapest ad-free plan. It isn’t the only streaming bill on the rise: NBCUniversal’s Peacock (which expects to lose $3B this year) plans to jack up prices for the first time next month. In the past year, Disney+, Hulu, Warner Bros. Discovery’s Max, and Paramount+ have all bumped sub costs. With profitability still eluding nearly all streamers, the generosity era could be over.
Too hot to handle… As extreme heat bakes the planet, farmers are feeling the burn. Sunbelt states like Texas are seeing crops like cotton, rice, and corn wither in triple-digit temps. In the Midwest, the heat and a potential drought could put grain-producing states at risk of crop failure. Meanwhile, cereal production in Europe is expected to fall as much as 60% this year. Spain, the world’s top olive producer, is facing a second straight year of bad harvests