Business
From 'Squid Game' to 'Frankenstein,' Netflix takes brand promotion to a new level at Tudum
Vanessa Agabo-Davalos has spent hours watching the dystopian drama “Squid Game” on Netflix. But nothing could prepare the 21-year-old college student for seeing one of the show’s actors walk the red carpet a few feet in front of her.
She found herself starstruck in the presence of Kang Ae-sim, who portrays Geum-ja (Player 149) on the South Korean thriller. All the more so when they snapped a photo together.
“You forget everything. You forget how to talk — it’s just like ‘Wow, I saw you on TV,’” said Agabo-Davalos, who traveled an hour from the Inland Empire and can’t wait to see the final season this month. “I feel like it’s a dream come true for the ones that really enjoyed these shows.”
She was among the more than 9,500 Netflix fans who gathered Saturday at the Kia Forum in Inglewood for Netflix‘s Tudum live event, an hours-long extravaganza meant to hype up audiences for upcoming series, movies and returning franchises.
People traveled from all over the world to celebrate their love for shows including “Squid Game,” Addams Family series “Wednesday” and sci-fi show “Stranger Things.”
During Netflix’s variety-show like program onstage at the famed venue, the company showed off how its computer animated version of Tony Tony Chopper, a toddler-sized reindeer-boy character in the live action pirate series “One Piece,” would appear in the upcoming season.
Oscar-winning director Guillermo del Toro unveiled a new teaser trailer for his November Netflix movie, “Frankenstein,” starring Oscar Isaac and Mia Goth, who both appeared onstage with the filmmaker. Fans also saw the first six minutes of the first episode of Season 2 of “Wednesday,” which will be released in August.
The event, named after the sound that plays before a Netflix program begins (“tuh-dum”), was part of Netflix’s ongoing effort to harness the enthusiasm its viewers have for its most popular programs and inspire them to keep streaming.
“It is about celebrating fans and giving something back to them,” Netflix’s Chief Marketing Officer Marian Lee told The Times after the event. “Of course it is also about promoting … we have a huge slate coming up.”
Netflix hosted the first Tudum event in 2020 in São Paulo, which came from the company’s Brazil team, which had an idea for an event that rewarded the streamer’s fans of young adult shows. That later led to Tudum evolving into different formats including festivals and livestreams, events that were more like a fan convention.
In 2023, Netflix held Tudum again in São Paulo, drawing more than 35,000 attendees and more than 78 million views through Netflix’s social channels.
But Saturday’s festivities in Inglewood took Netflix brand promotion to a new level.
It was the first time Tudum was livestreamed directly on Netflix, rather than on YouTube or social media outlets. The event played like a roughly two-hour live variety show, featuring “ask me anything” segments, as well as performances from music artists including Lady Gaga, who appears in the next season of “Wednesday.”
Xavier Woods, left, and Kofi Kingston attend Netflix Tudum 2025: The Live Event at the Kia Forum on Saturday in Inglewood.
(Emma McIntyre/Getty Images for Netflix)
There was plenty of cross promotion of Netflix content during the show, as WWE wrestlers talked about why people should tune into their weekly live show on the platform, while also speaking about their love for “One Piece,” based on manga.
Tudum host Sofia Carson touted her upcoming Netflix movie, “My Oxford Year,” which also stars Corey Mylchreest, known for portraying King George III in Georgian era romance series “Queen Charlotte” from the “Bridgerton” universe. Sesame Street‘s Cookie Monster also made an appearance with actors Ben Affleck and Matt Damon, who star in the new Netflix movie “The RIP.”
“I don’t think another studio can pull this off in the way that we did,” Lee said. “Fandoms can be unique and distinct. They’re putting all those fans in a room together, WWE fans next to [mystery movie] ‘Knives Out’ fans next to Lady Gaga fans for ‘Wednesday.’ That’s an incredible achievement. That is something only Netflix can do.”
To some people, Tudum is a page borrowed from Walt Disney Co., which hosts the biennial D23 fan convention in Anaheim, pulling together disparate fandoms (Disney princesses, Marvel, Pixar, Star Wars) to converge in the same place. It raises the question: Does Netflix, a streaming service that produces shows from just about every genre for just about every kind of audience, have fans in the same way that Disney does?
Over the years, Netflix has expanded its live events and in-person experiences to keep viewers engaged. Those have included “Bridgerton” balls, Netflix-themed eateries and retail stores selling merch based on “Stranger Things” and other shows.
Lee declined to say how much Netflix spent on the event. Some fans bought tickets, ranging from $25 to $75, while others said they scored free tickets. Netflix said tickets sold out in about a week.
Netflix doesn’t have iconic animated characters like Mickey Mouse or storied franchises like “Star Wars” or Marvel. But Netflix’s strategy is to have something for everyone, and because of that, people are reluctant to quit it, industry observers say, even as economic anxieties run rampant.
“That is the competitive advantage of Netflix,” said Larry Vincent, a marketing professor at USC Marshall School of Business. “It really has become the big tent of streaming. They’ve invested pretty significantly to develop a stockpile of content.”
The streamer said last year it had more than 301 million subscribers globally. On Saturday, the attendees reflected that expansive audience.
Netflix Tudum 2025: The Live Event at the Kia Forum on Saturday in Inglewood.
(Adam Rose/Netflix)
Fans dressed up as their favorite characters from Netflix shows. People wore black dresses similar to Wednesday’s attire, straw hats in support of “One Piece” and green tracksuits like the ones players wear in the deadly “Squid Game.”
When Cookie Monster appeared behind a DJ booth on the “N” shaped red carpet to sing “‘C’ is for Cookie,” adults in “Squid Game” tracksuits joined in the chorus.
“It’s all-encompassing and global and passionate,” Tudum host Carson, known for starring in Netflix movies including “Carry-On” and “Purple Hearts,” said in an interview after the event ended. “It is truly extraordinary to feel the love from every single part of the world — it crosses languages, it crosses cultures.”
Shaheidi Jimenez, 21, came to the Netflix event as a fan of “Wednesday” and “Squid Game.” She hadn’t watched “Stranger Things,” but seeing the screaming fans for the show’s actors on the red carpet made her more curious about the sci-fi series.
“When I see the cast, it makes me want to watch it now,” Jimenez said. “I’m familiar with them more. It makes me want to watch the show and probably get into it.”
Business
Rent-hike ban to protect fire victims ends despite gouging concerns
A rule intended to prevent rent gouging in the wake of the Eaton and Palisades fires has lapsed in Los Angeles County, possibly exposing some renters to hikes.
The executive order that blocked rent increases was issued by Gov. Gavin Newsom amid the devastating wildfires last year. Under the order, landlords couldn’t increase rents by more than 10% above their prefire levels.
The rule, which was supposed to be temporary and was repeatedly extended, ended Friday after a vote to extend it again failed to garner enough votes. Supervisor Lindsey Horvath, whose district includes Pacific Palisades, sounded the alarm in a motion to extend price protections that failed to pass at the Board of Supervisors’ May 19 meeting.
“These price gouging protections continue to be necessary as construction and rebuilding continue, and as thousands of people remain displaced,” the motion said. “Families which signed short-term leases could face drastic price increases of 50% or more without further price gouging protection.”
Los Angeles County is home to more than 1 million rental properties, though not all of them needed protection from the new rule. There are already stricter rent increase caps for many residences, depending on the location, type and age of the building. Despite the rent control in the region, the people of Los Angeles pay among the highest rents in the country.
It is uncertain whether renters will face rapidly rising rents now that the protection has lapsed. But some real estate experts and policymakers said there was no need for the temporary rule that was part of the governor’s state of emergency.
Supervisors Kathryn Barger, Janice Hahn and Holly Mitchell abstained from voting on the motion to extend the protection, while Supervisors Hilda Solis and Horvath supported it.
“I abstained because I did not see sufficient evidence to justify extending this emergency ordinance, nor did I see evidence to eliminate it entirely,” Hahn said.
Barger’s office said she supported allowing the protections to sunset while waiting to see whether new information emerged.
“Market data already shows countywide rents are only about 2% above pre-emergency levels and rental inventory has grown,” Barger representative Helen E. Chavez Garcia said. “The Supervisor is also mindful of the burden these ongoing protections place on small property owners throughout the county.”
Mitchell did not immediately respond to a request for comment.
There haven’t been steep rent hikes in neighborhoods within three miles of the Palisades fire, according to a Times analysis of data from Zillow, the property listing company.
In ZIP Codes within three miles of the Palisades fire, rent increased 4.8% from December 2024 to April 2025. In areas around the Eaton fire, which destroyed swaths of Altadena, rent jumped 5.2% in the same period.
In L.A. County, ZIP Codes farther from the fires saw only about a 2% increase.
A landlords representative, Jesus Rojas of the Apartment Owners Assn. of Greater Los Angeles, told the supervisors during public comment at the meeting that the county’s rent-gouging rules have “long outlived the emergency they were intended to address” and are now being “wrongfully used to harm thousands of rental housing providers throughout the county.”
“There is no proof that multifamily rental housing providers are hugely increasing rents for impacted homeowners,” Rojas said.
Indeed, there are strong signs that the property market in the Los Angeles area has at last begun to cool.
L.A. metro-area rent prices recently fell to a four-year low, with the median rent slipping to $2,167 in December.
Meanwhile, condominium sales had their slowest start of the year in decades. Condo sales in Los Angeles have plummeted to a 20-year low, with fewer than 2,000 units sold in January and February — the worst start to the year since 2005.
Newsom defended the price-gouging protections shortly after they went into effect.
“In the days following the Los Angeles firestorms, we worked quickly to protect Los Angeles survivors from any form of exploitation,” he said in February 2025. “The state has the tools in place to not only block price gouging during this emergency, but also to prosecute bad actors.”
The Los Angeles County Department of Consumer and Business Affairs said it received more than 2,000 complaints after the fires, alleging that retailers and landlords were taking advantage of people put in hardship by their losses, and sent out more than 2,000 cease-and-desist letters to businesses and landlords for alleged price gouging, said Morine Merritt, who oversees department investigations into consumer and real estate fraud.
“Close to 90% of the complaints that we received involved allegations of rent increases,” Merritt said in an interview. Now that the fire-related protections have expired, existing laws and “regular market conditions determine price increases for goods and services, including rents,” she said.
Crackdowns on fire-related rent gouging have been rare, said Chelsea Kirk of the activist organization the Rent Brigade, which analyzed L.A. County’s rental market in the year after the fires. It reported 18,360 potential examples of price gouging in listings but said that few lawsuits had been filed by authorities so far.
Last week, Rent Brigade announced what it said was the first private civil lawsuit brought by a family that claimed to be rent-gouged in the aftermath of the wildfires. Plaintiffs Randall and Candy Renick, whose Altadena home was damaged, said they were charged nearly three times the maximum permitted rate for nearly 10 months. They seek restitution of $96,000 plus civil penalties and attorneys’ fees.
The rental market has probably stabilized since the fires, Kirk said, but other families may still be “locked into illegal rents” that they agreed to pay when they were in a rush to find housing after they were displaced.
Business
Read Nick Bilton’s Letter to Scott Pelley
Dear Mr. Pelley:
I meant what I said in my letter last week to the 60 Minutes team: joining 60 Minutes is the honor of my career and I am grateful to be working alongside the people who have contributed to the most important television journalism brand this country has ever produced. While I’m new to 60 Minutes, I’ve devoted my career to investigative journalism and storytelling. I started this job excited to collaborate and to benefit from the wisdom and experience of the 60 Minutes veterans, with you among them. For that reason, one of the first things I did in my new role was call you to talk and invite you to dinner. It is a profound disappointment that you rejected that overture and chose ambush instead. Yesterday, you hijacked my first meeting with staff to disparage me, my qualifications, and my intentions with remarkable incivility and contempt. I welcome a diversity of viewpoints and respectful debate among the team, but this was nothing of the sort. Yesterday’s performative display of hostility enacted in front of the staff instead of in a civil, private conversation-demonstrated that you have no interest in contributing to the future success of the show, or approaching my new tenure with a mind open to collaboration and progress. I am here to deliver first-in-class news programming, not to make headlines about newsroom drama. I am eager to work alongside those who share this goal.
Despite yesterday’s misconduct, I had hoped that in sitting down with you today we could find a path forward together. You made clear that you are not interested in such a path.
Your antipathy to the future of the show has come through loud and clear. And I have heard you. I therefore write on behalf of CBS News, Inc. (“CBS”) to inform you that your employment with CBS is terminated for cause effective immediately. Enclosed is your formal termination letter.
Sincerely,
Nick Bilton
Executive Producer, 60 Minutes
Business
Aspiration co-founder sentenced to 14 years for fraud
The co-founder of Aspiration, Joseph Sanberg, was sentenced to 14 years in prison on Monday after defrauding investors and lenders of over $248 million.
The startup, an eco-friendly digital banking company boasting fossil fuel-free investments, carbon offsets for gas purchases, and a debit card with cash-back benefits for shopping at clean companies, was founded by Sanberg and Andrei Cherny. Cherny left the company in 2022 and has not been charged.
Sanberg, an Orange County native, pleaded guilty to wire fraud in October after being arrested in March last year. Aspiration subsequently filed for bankruptcy and liquidated all of its assets by July.
Sanberg and venture capitalist Ibrahim AlHusseini, who also faces charges, together forged a series of bank statements in order to obtain loans. From 2020 to 2021, the pair forged AlHusseini’s bank statements to show millions of dollars in assets in order to obtain millions of dollars from lenders.
Additionally, they forged a letter from their audit committee stating that $250 million in funds were available, when in reality Aspiration had less than $1 million. The amount of loans defrauded exceeded $248 million.
In 2021, Sanberg artificially inflated Aspiration’s 2021 revenue by $44 million by recruiting 27 fake customers to sign letters of intent pledging tens of thousands of dollars per month for tree planting services. Sanberg himself funded the contracts and used the inflated revenue numbers to obtain more loans.
The charges sparked an NBA investigation into salary cap allegations due to Aspiration’s connections with Clippers owner Steve Ballmer.
Ballmer personally invested $60 million in Aspiration, all of which was lost. He is now the target of a civil lawsuit alleging his participation in the scheme. Ballmer denies the allegations.
The team announced a $300-million sponsorship deal with Aspiration, and Clippers player Kawhi Leonard signed a four-year, $28-million marketing contract with the company, which reportedly performed no duties. The issue has raised concerns about how players are circumventing the NBA’s salary cap.
The team lost the $300-million sponsorship deal and an additional $20 million paid for carbon offset purchases.
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