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The streaming giant’s chief executive believes its big spending is sustainable – and isn’t worried about losing out to rivals such as Amazon
“I joke with Larry Page that his vision is of making the world more productive ... and mine is making it in some ways less productive,” says Reed Hastings, over a half pint in a bar in London’s Soho. The Netflix chief executive may not have achieved the same kind of global dominance as Page’s Google, but there’s evidence he’s having an impact on productivity levels, at least in the UK.
The day before we meet, regulator Ofcom revealed that 23% of people in the UK said they had watched Netflix in the previous week, up from 13% a year and a half earlier. “That’s a start, but that’s 77% not using it,” says Hastings. “So we’ve a long way to go to »
- Jasper Jackson
A second season of Stranger Things is all but a given at this stage – the Duffers Brothers want it, the show’s producers want it and perhaps most important of all, Netflix subscribers have thrown their support behind the hit ’80s series.
Granted, Hastings stopped short of giving a definitive answer on whether Stranger Things season 2 will be commissioned, but much of that comes down to the business model Netflix adheres to – one that’s fairly different to most, if not all major networks.
“Because we don’t have advertising we are under a whole different model to not compare all the shows and rank other shows, because it kind of doesn’t matter what everybody loves the most it, matters what you or I love most. »
- Michael Briers
When I was a teenager and the internet was young, there weren't many resources readily available in suburban Sacramento for finding the weird, way-out films that made me smile. In fact, at the time, there was really only one place I could go to explore the darker side of my cinematic affinities, the video store. In the mid-90s, my town had several independent video stores that hadn't quite been gobbled up by the Hollywood Video and Blockbuster chains. DVD hadn't quite arrived and "streaming" wasn't even a twinkle in Reed Hastings's eye, but there were videos aplenty to quench my thirst for the bizarre. At the time there weren't online reviews, YouTube trailers, or a massively connected worldwide community to help me make my decisions....
[Read the whole post on screenanarchy.com...] »
Netflix kicked off this year with a massive international roll-out. In January, Reed Hastings announced the company had tripled the number of countries where it's available, bringing the total to 190. With the (major) exception of China, Netflix truly is everywhere. So how to explain Netflix's quarterly figures, released Monday, which showed international subscriber growth slowing, with just 1.5 million new Netflix customers added outside the U.S.? Netflix's own forecast for the third quarter calls for 2 million new international additions, or 25 percent fewer than it added over the same period in 2015. “The deceleration
- Scott Roxborough, Georg Szalai
If Netflix execs are concerned about Hulu’s plan to launch a live streaming service along with video on demand, they aren’t showing it. “We haven't seen impact from existing Hulu” services, Netflix CEO Reed Hastings told investors in a conference call today. In addition, Netflix penetration among users of Dish Network’s live streaming Sling TV “is quite high.” He characterized the Hulu plans as “cable getting better.” Nor is the company concerned that Hulu’s owners… »
Updated: Shares in the streaming giant dropped around 15% after trading on Monday as the company missed its projections on subscriber growth for the second quarter.
However second-quarter earnings of $2.1bn were in line with Wall Street’s prediction of $2.11bn and gained 31% on the same period in 2015.
Netflix poured water on prospects of an imminent launch for China, saying in a letter to investors before Monday’s earnings call that the regulatory climate had become “more challenging” this year.
The company vowed to continue working towards a China launch, despite noting that Disney’s joint venture with Alibaba had closed down as had a service launched by Apple.
Turning to other markets, a concern of analysts, the company said efforts were underway to “localise” in Poland and Turkey with subtitling and dubbing.
With regard to subscriber losses, Netflix intimated this was due to the previously announced price rise and said in its letter: “We are growing, but not »
- email@example.com (Jeremy Kay)
According to the U.S. Ninth Circuit Court of Appeals, using someone’s password to access an online service without the authorization of the owner is a crime that can be prosecuted under the U.S. Computer Fraud and Abuse Act.
The decision came after a July 5 ruling where a former employee at the executive-teach firm Korn Ferry continued to access the company’s candidate database using another employee’s login information. As noted by Fortune, that means that it could potentially “makes millions of people who share passwords for services like Netflix and HBO Go into ‘unwitting federal criminals,’” according to the opinion of Judge Stephen Reinhardt.
Read More: Netflix And The CW Reach New Multi-Year Licensing Deal For Scripted Series
- Liz Calvario
The feud between Netflix and Comcast has been very public and very bitter, but it appears as if the two longtime enemies are coming together - for now. According to Recode, the feuding parties have agreed to a deal that will bring the former company’s streaming video on-demand (Svod) service to the latter company’s X1 set-top box.
Netflix and Comcast have sparred with one another on several occasions, but the most significant battle between the two came in 2014, when Netflix accused Comcast of throttling its traffic, perhaps in response to the massive traffic costs generated by the then-recent release of season two of House of Cards. Ultimately, it was the Svod platform that backed down; it agreed to pay Comcast a fee in exchange for smoother streaming.
- Sam Gutelle
Netflix lost an appeal to void their output deal with Relativity Studios on Thursday, TheWrap has learned. The lucrative licensing agreement guarantees Ryan Kavanaugh‘s company millions of dollars to stream the studio’s films — and the battle over the longtime contract has been raging for months. “District Court finds Netflix likelihood of success on merits of its appeal ‘exceedingly low,'” the court ruled. Also Read: Relativity to Seek $1 Billion From Netflix Over 'Bad Faith' in Contract Challenges Netflix’s legal strategy has been varied throughout the fight, which gained momentum when the studio emerged from bankruptcy earlier this year. »
- Matt Donnelly
Compared to The Ridiculous 6, The Do-Over is a Criterion-bound masterpiece. Then again, compare anything to The Ridiculous 6 and I’m sure you’d mistake it for the second coming of Kubrick, so let’s be honest about The Do-Over – it’s not Adam Sandler’s worst, but that bar couldn’t sink any lower. Netflix has given the once-legendary comedian carte blanche, as Sandler tries desperately to win back his fanbase’s waning support – a gamble CEO Reed Hastings has to be questioning by now. The Do-Over is more survivable than expected, but Sandler just seems to be begging for help at this point, hoping social justice and David Spade can save him from yet another critically-ignored misfire.
- Matt Donato
In a Paley Media Council interview Thursday with CNN’s Brian Stelter, HBO CEO Richard Plepler was asked whether viewers could expect to see Stewart, former host of Comedy Central’s “The Daily Show,” on HBO before the general election.
“Yeah, I’m hopeful,” Plepler said.
Stewart signed a four-year production deal with HBO in November, three months after ending his Comedy Central run. The first project under that deal involves working with 3D graphics company Otoy on the creation of short-form video projects.
Plepler described Stewart’s approach to his upcoming HBO work as improvisational.
“It is a perfect example of bringing a remarkable original voice into the house, giving a new opportunity of expression to that original voice and saying, ‘We now have the flexibility to let you paint however you want to,'” Plepler said. »
- Daniel Holloway
The recent alliance between French conglomerate Vivendi and Italy’s Silvio Berlusconi-controlled Mediaset TV group is likely to spark a battle for subscribers that will be played out across the European media landscape.
French billionaire Vincent Bolloré, Vivendi’s chair and biggest shareholder, is looking to take on Murdoch’s Sky empire and Hastings’ Netflix streaming giant by combining a telecommunications company, TV outlets and scads of content into a yet-unnamed Southern European-based media mega-conglomerate.
“You see At&T buying DirecTV, Telefónica buying Via Digital, etc. The integration of telcos and media content is the present and the future,” says Franco-Tunisian media mogul Tarak Ben Ammar, a Vivendi supervisory board member, who brokered the deal.
“The integration of telcos and media content is the present and the future.” Tarak Ben Ammar
On April 8, Vivendi bought pay TV »
- Nick Vivarelli
Marseille – Unspooling in Marseille’s spectacular, hilltop Palais du Pharo, built by Emperor Napoleon III for his wife, the first two episodes of Gerard Depardieu-starrer “Marseille,” Netflix’s first 100% European original series, world premiered Wednesday night to 10 seconds or so of polite applause, but no more, from a packed largely local audience.
That is the power of Netflix, a global reach central to a business model which Netflix chairman Reed Hastings and Ted Sarandos, Netflix chief content officer, explained at length to a select group of journalists hours before the “Marseille” premiere, talking at the city’s Sofitel Hotel, which offered magnificent views of Marseille’s Old Port.
Netflix has 30 scripted series in production and 12 films and will raise its »
- Emilio Mayorga
Chris Albrecht made $2.4 million in 2015, down just a hair from the prior year’s $2.5 million. In reality, it was mostly rounding differences for the Starz chief executive officer. Albrecth’s non-equity incentive plan compensation slid $28,750, while he made $300 more this time around under the catch-all “all other compensation.” Albrecht’s salary was flat at $1.25 million. His non-equity compensation rounded to $1.2 million once again this year. Also Read: Netflix CEO Reed Hastings' 2015 Pay Grows 50 Percent, Ted Sarandos' Rises Even More Albrecht’s big money year was 2013, when he scored a sum of $30.5 million. The vast majority of that — »
- Tony Maglio
Netflix executives enjoyed a fruitful 2015, a year that saw CEO Reed Hastings’ pay rise 50 percent and Chief Content Officer Ted Sarandos’ jump 59 percent. All told, Hastings (pictured, left) made $16.6 million last year, while Sarandos (right) earned $14 million. So, it is time to Netflix and chill on their own private islands? Here’s how the president and chairman’s take breaks down: Hastings had $1.1 million in salary and a whopping $15.5 million in option awards. As for Sarandos, he earned the same rounded $1.1 million in salary, a beefy $10.9 million in options, and a cool $2 million in non-equity incentive »
- Tony Maglio
Turner has launched its Korean-themed Oh!K channel and its U.S. entertainment network Warner TV on Indonesia’s Transvision pay-tv platform.
The two channels carry shows in Asia within hours of their broadcast premieres in the U.S. and Korea.
Oh!K, includes “Monster” and, debuting from May, “Lucky Romance,” both within 24 hours of their premiere. Other fast-track titles include “Just Married” and variety show “Infinite Challenge.” They all have Bahasa Indonesia language options.
Warner TV screens superhero shows “DC’s Legends of Tomorrow,” “Gotham,” “iZombie” and “Arrow,” action series “Blindspot,” and comedy series “The Big Bang Theory.” DC Comics series include “The Flash” and “Supergirl.”
The announcement was made on the eve of the Apos convention in Bali, Indonesia. The conference proper gets under way Wednesday (April 27) with keynote speeches from Netflix’s Reed Hastings and China Media Capital’s Li Ruigang.
- Patrick Frater
Paris – Seen in an extended multi-scene promo, Netflix’s Gerard Depardieu-starrer “Marseille’ wowed an industry audience Wednesday at Series Mania, making good on its promise as one of the highlights of the high-profile Paris TV Fest.
That is no footnote for Netflix. Presented in Paris by Netflix’s Joris Evers, Netflix communications head, Europe, and French-film director Florent Emilio-Siri (“My Way”), “Marseille” director-showrunner in his first TV gig, when it bows worldwide May 5 “Marseille” will be not just France’s but Europe’s first Netflix original series to be made available to subscribers (Norway’s “Lilyhammer” and Denmark’s “Rita” were co-productions; ITV’s “Marcella” and Channel 4’s “Kiss Me First” early global acquisitions).
The Paris “Marseille” sneak peek comes one day after Netflix chairman-ceo Reed Hastings focused at Netflix’s April 19 first-quarter earnings on international original productions, developed locally, distributed globally, as “a powerful formulation that will »
- John Hopewell and Elsa Keslassy
In the teaser, Charlie (Spade), a bank manager down on his luck, reunites with Max (Sandler), an old high school friend, at their 25th high school reunion. While Max appears to be living the good life as an FBI agent, taking Charlie to clubs, on “sexcapades” and boat trips, things take an unexpected turn when Charlie awakens to find that Max faked their deaths and is not who he claimed to be.
The two end up vacationing at a beautiful location before getting involved in gunfights, high-speed chases and running down pedestrians on the roadside.
- Lamarco McClendon
Company has left Amazon and Sky trailing in online entertainment sector – notching up 5m UK subscribers – and plans to spend $5bn on original content
Ten years ago, when Netflix was just a DVD mail-order business based in California, co-founder Reed Hastings vowed to built the “leading company” in the then-emerging online consumer entertainment business.
Last week figures from the TV ratings body Barb showed Hastings’ vision had become reality in the UK. Barb estimated that more than 5m British homes subscribed to Netflix in 2015, compared with 1.6m for rivals Amazon Prime Instant Video and fewer than 1m for Sky’s internet service Now TV.
Related: Netflix races ahead of Amazon and Sky with 5m UK households
Continue reading »
- Tara Conlan
Investors know they’re in for a roller coaster ride with Netflix stock, but they still had a lot of ups and downs over the last two days of trading. Like roller coaster passengers, they ended up pretty much where they started. That’s despite Netflix reporting its fourth-quarter earnings, and the Dow dropping more than 500 points Wednesday. Also Read: 'Pee-wee's Big Holiday' Gets Netflix Premiere Date, First Teaser Trailer (Video) On Tuesday, Nflx opened at $106.69 per share. By 12:30 p.m. Et, it was down to $105.81 — not terrible, but surely not trending in the direction that CEO Reed Hastings (pictured. »
- Tony Maglio
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