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   Technology StocksNetflix (NFLX)


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From: Sr K9/9/2020 12:09:25 AM
   of 2017
 
9/8/2020
11:00 PM

wsj.com

Netflix Names Bela Bajaria as New Head of Global TV

Cindy Holland, key architect of the streaming giant’s original-content strategy, is leaving

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From: FUBHO9/12/2020 4:31:29 PM
   of 2017
 
Following @netflix’s disturbing promotion of “Cuties,” I sent a letter calling on @TheJusticeDept
to investigate whether Netflix, its executives, or the filmmakers violated any federal laws against the production and distribution of child pornography.

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From: Glenn Petersen10/9/2020 6:35:56 PM
   of 2017
 
Quibi is being shopped around.

Quibi approached Apple about a potential acquisition, but Eddy Cue wasn’t interested

Filipe Espósito
9to5 Mac
- Oct. 9th 2020 1:41 pm PT

Quibi was introduced earlier this year as a streaming platform with content targeted to be watched on mobile devices. While the platform slowly grows, a new report from The Information revealed that Quibi CEO Jeffrey Katzenberg is now looking for someone to buy his company, and he even tried to sell it to Apple.

Just like Apple TV+, Quibi focuses on exclusive content and original productions instead of offering a catalog with movies and TV shows from different studios and channels. While it’s hard to imagine Apple taking advantage of Quibi’s platform, the company could release its shows on Apple TV+.

The report mentions that Katzenberg has reached out to several tech and entertainment executives, including Eddy Cue — Apple’s Senior Vice President of Internet Services. However, Cue wasn’t interested in Quibi and the proposal was rejected by Apple. The streaming company also tried to negotiate with WarnerMedia and Facebook, but they all rejected the deal.

The stakes are high for Katzenberg, a veteran of Hollywood. Quibi was an ambitious idea: a service aimed at people on the go, airing episodes of everything from news programs to dramas with episodes of just a few minutes each. Major talent including Kevin Hart and Chrissy Teigen made shows for the service.

Katzenberg raised $1.75 billion to found Quibi, but the platform has struggled to become popular — mostly because it was designed for mobile devices rather than TVs. Quibi currently has 500,000 subscribers, which is far less than any other popular streaming platform.

In order to make the platform more attractive, Quibi was later updated with AirPlay integration and video screenshots in its iOS app, but that wasn’t enough to make it popular. As pointed out by The Information, the Quibi platform has nothing special to offer, so it will be difficult to sell it to another company.

Quibi is available in the US with a $4.99 monthly subscription with ads or $7.99 without ads.

9to5mac.com

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From: Glenn Petersen10/12/2020 4:42:39 PM
1 Recommendation   of 2017
 
Disney says its ‘primary focus’ for entertainment is streaming — announces a major reorg

PUBLISHED MON, OCT 12 20204:15 PM EDT
UPDATED 10 MIN AGO
Sarah Whitten @SARAHWHIT10
CNBC.com

KEY POINTS

-- Disney is restructuring its media and entertainment divisions.

-- In order to further accelerate it’s direct-to-consumer strategy, the company will be centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.

-- The change comes as the global coronavirus pandemic has crippled its theatrical business and ushered more customers towards its streaming options.

Disney is restructuring its media and entertainment divisions, as streaming becomes the most important facet of the company’s business.

On Monday, the company revealed that in order to further accelerate its direct-to-consumer strategy, it would be centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.

Shares of the company jumped more than 5% during after hours trading.

The move by Disney comes as the global coronavirus pandemic has crippled its theatrical business and ushered more customers towards its streaming options. As of August, Disney has 100 million paid subscribers across its streaming offerings, more than half of which are subscribers to Disney+.

Only last week, activist investor Dan Loeb called on Chief Executive Officer Bob Chapek to end the company’s annual $3 billion dividend to divert more capital to new Disney+ content.

Loeb’s Third Point Capital is one of Disney’s largest shareholders and bought more shares earlier this year in support of Disney’s repositioning around Disney+, its flagship subscription streaming service.

As part of this reorganization, Disney has promoted Kareem Daniel, the former president of games and publishing within Disney’s consumer products division. He will now oversee the new media and entertainment distribution group.

He’ll be in charge of making sure streaming becomes profitable, as the company continues to invest heavily in its various streaming products. Daniels will hold the reins to all of the company’s streaming services and domestic television networks, including all content distribution, sales and advertising.

Disney is becoming more reliant on Disney+ as movie theaters have been unable to recover after being shuttered in March due to the outbreak. Ticket sales have been particularly lackluster at domestic cinemas since the industry attempted a large-scale reopening in late August.

In recent months, the company pushed back a number of its theatrical releases including Marvel blockbuster “Black Widow.” The much anticipated Pixar film “Soul” has also been postponed. It will now arrive on Disney+ in December.

Analysts are still awaiting word from Disney about how “Mulan” fared after Disney removed it from theatrical release and sold it through Disney+ for $30. It is expected the company will share more details about its performance during its next earnings report in November.

Daniel will be responsible, in part, for making big decisions about Disney’s theatrical and streaming release schedules going forward.

Reorganizing Disney’s media business

Alan Horn and Alan Bergman will remain in charge of the company’s studios, Peter Rice will continue to head the company’s general entertainment group and James Pitaro will stay as head of the company’s sports content.

All will report directly to CEO Bob Chapek. The company’s parks, experiences and products segment will remain under the leadership of Josh D’Amaro and Rebecca Campbell will remain on as the chairman of direct-to-consumer and international operations. Campbell will report directly to Chapek for all things related to international operations but will report to Daniel when it comes to Disney+, Hulu and ESPN+.

“Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value,” Chapek said in a statement announcing the reorganization. “Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it.”

Under Horn and Bergman, the studios segment will focus on creating content for theatrical release, Disney+ and Hulu. Walt Disney Studios, Marvel Studios, Pixar Animation Studios, Walt Disney Animation Studios, Lucasfilm, 20th Century Studios and Searchlight Pictures all fall under their perview.

Rice’s general entertainment segment includes 20th Television, ABC Signature and Touchstone Television, ABC News, Disney Channels, Freeform, FX and National Geographic.

As for Pitaro’s sports segment, that will focus on live sports programming, sports news and original and non-scripted sports-related content across ESPN, ESPN+ and ABC.

Daniel’s media and entertainment distribution group will manage all distribution, operations, sales and advertising across the three content groups. Daniel has spent 14 years at with company in a variety of positions. He helped transform Disney’s Star Wars property into the two Star Wars: Galaxy’s Edge lands in Disney World and Disneyland as well as aided in bringing Toy Story Land, Pixar Pier and Avengers Campus to the parks.

“Kareem is an exceptionally talented, innovative and forward-looking leader, with a strong track record for developing and implementing successful global content distribution and commercialization strategies,” said Chapek.

This new structure is effective immediately. The company currently expects to transition its financial reporting to reflect these changes beginning in the first quarter of fiscal 2021.

Additionally, Disney announced that it will hold a virtual investor day on Dec. 10.

— CNBC’s Julia Boorstin contributed to this report.

This story is developing. Check back for updates.

cnbc.com

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From: Glenn Petersen10/20/2020 3:50:24 PM
   of 2017
 
Netflix set to report third quarter 2020 earnings after the bell

PUBLISHED TUE, OCT 20 20203:31 PM EDT
Lauren Feiner @LAUREN_FEINER
CNBC.com

KEY POINTS

-- It’s the first report since longtime Chief Content Officer Ted Sarandos was promoted to co-CEO.

-- Netflix told shareholders last quarter that growth was beginning to slow again after an initial uptick when stay-at-home orders proliferated around the world.

Netflix is set to report earnings for its third quarter of 2020 after the bell on Tuesday.

Here are the key numbers:

Earnings per share (EPS): $2.14 expected, according to Refinitiv consensus estimate


Revenue: $6.38 billion expected, according to Refinitiv


Global paid net subscriber additions: 3.57 million expected, according to FactSet

It’s the first report since longtime Chief Content Officer Ted Sarandos was promoted to co-CEO alongside long-time CEO Reed Hastings.

Netflix told shareholders last quarter that growth was beginning to slow again after an initial uptick when stay-at-home orders proliferated around the world. Executives expect to feel the impact of postponed filming more in 2021, but still said last quarter that the total number of original programs that year would exceed that for 2020.

Netflix has tightened up its subscription practices in recent months. In May, the company said it would proactively cancel customers’ subscriptions if they hadn’t watched anything in a year and didn’t respond to outreach messages. This month, several outlets reported that Netflix had phased out its 30-day free trial offer as it experiments with new marketing tactics, like letting prospective customers watch a sampling of shows on their platforms or YouTube.

This story is developing. Check back for updates.

cnbc.com

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To: Glenn Petersen who wrote (1995)10/20/2020 4:21:14 PM
From: The Ox
   of 2017
 
At a glance, trailing EPS/Revs make the stock very pricey. With slowing growth, I think the stock is about 20% overvalued at $500/share. $420ish is more in line based on the current projections for 2021. Maybe a slightly higher multiple due to low interest rates but at $500/share - I think if you're a holder of the stock, it's time to consider taking profits...

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To: The Ox who wrote (1996)10/20/2020 4:59:17 PM
From: Glenn Petersen
   of 2017
 
No argument from me.

I think that NFLX has done a good job of managing expectations. They have not overhyped their pandemic advantage.

Netflix misses on subscriber additions and EPS

PUBLISHED TUE, OCT 20 20203:31 PM EDT
UPDATED 19 MIN AGO
Lauren Feiner @LAUREN_FEINER
CNBC.com

KEY POINTS

-- It’s the first report since longtime Chief Content Officer Ted Sarandos was promoted to co-CEO.

-- Netflix told shareholders last quarter that growth was beginning to slow again after an initial uptick when stay-at-home orders proliferated around the world.
Netflix reported earnings for its third quarter of 2020 after the bell on Tuesday. The company fell short of analyst estimates on earnings per share and global paid net subscriber additions, but exceeded expectations on revenue.

Shares fell as much as 6% during after hours trading.

Here are the key numbers:

Earnings per share (EPS): $1.74 vs $2.14 expected, according to Refinitiv consensus estimate


Revenue: $6.44 billion vs $6.38 billion expected, according to Refinitiv


Global paid net subscriber additions: 2.20 million vs. 3.57 million expected, according to FactSet



Netflix said in its letter to shareholders that the slowed subscriber growth was largely expected. In the same quarter last year, Netflix added 6.8 million subscribers, though this time it’s dealing with the fallout of a global pandemic.

The company attributed to slowed growth to its “record first half results.” The stock was considered a good buy early in the pandemic as stay at home orders left consumers looking for ways to fill their time.

For the fourth quarter, Netflix forecast 6.0 million paid net adds, still well below the 8.8 million it added in the fourth quarter of 2019.

“The state of the pandemic and its impact continues to make projections very uncertain, but as the world hopefully recovers in 2021, we would expect that our growth will revert back to levels similar to pre-COVID,” executives wrote in their letter to shareholders.

Subscribers in the Asia-Pacific region were the largest contributor to paid membership growth — a first for the company — accounting for 46% of all global paid net adds.

“We’re pleased with the progress we’re making in this region and, in particular, that we’ve achieved double digit penetration of broadband homes in both South Korea and Japan,” Netflix said in its letter.

It’s the first report since longtime Chief Content Officer Ted Sarandos was promoted to co-CEO alongside long-time CEO Reed Hastings.

Netflix said it still expects the number of Netflix originals it launches next year to still be up year over year each quarter despite delays to production due to global shutdowns. The company said it’s begun to restart production on some of its most popular titles, like “Stranger Things.”

The company’s free cash flow was positive for the third straight quarter, and is at positive $2.2 billion for the first nine months of 2020. It said it expects to be slightly negative on free cash flow in Q4 as production restarts. It expects free cash flow to be about $2 billion for the full year 2020, up from its previous break-even to positive estimate.

For 2021, Netflix said it expects free cash flow to be -$1 billion to break-even.

This story is developing. Check back for updates.

cnbc.com

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To: The Ox who wrote (1996)10/21/2020 1:09:27 PM
From: bobby is sleepless in seattle
   of 2017
 
would you pay 20/month for their services?

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To: bobby is sleepless in seattle who wrote (1998)10/21/2020 1:59:02 PM
From: The Ox
   of 2017
 
Our family has an account with NFLX. It's a decent product, especially for a family of 4 with different tastes. I don't believe we're paying that much but I don't pay that bill. With the various other streaming services we use, it's not required to keep but it's content is solid.

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To: Glenn Petersen who wrote (1997)10/23/2020 4:54:06 PM
From: Following-Mr.Pink
   of 2017
 
Agreed; I thought earnings were well-managed. It's unfortunate that the growth story couldn't continue to chug along but this is a LT hold for me.

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