Tag Archives: Netflix

Netflix cuts 150 US-based jobs after losing subscribers | BBC News

Netflix has made about 150 staff redundant, a month after the streaming service said it was losing subscribers for the first time in a decade. The redundancies, announced by the entertainment giant on Tuesday, will mainly affect its US office in California. They account for about 2% of its North American workforce. Netflix said the job losses were due to the slump in the company’s revenue. The streaming service is battling an exodus of viewers this year.

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Netflix is working on adding live streaming to its service, report claims | Mashable

Netflix wants to do it live.

So reports Deadline, which notes that the streaming giant is “exploring” bringing live streaming to its service. That’s right, live entertainment — presumably with none of the pausing, rewinding, or fast-forwarding we’ve all come to take for granted in our post cord-cutting world.

The move into live entertainment would follow on Netflix’s apparent plan to add an ad-supported tier to the subscription platform sometime this year, and would reportedly focus on stand-up specials and unscripted shows.

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What’s Going on With Netflix? Everything You Need to Know About the Company’s Massive Fall | Entrepreneur

Netflix was down over 26% premarket on Wednesday following the release of the company’s latest earnings report, which brought the total market capitalization of the company down nearly $50 billion.

The company reported a 10% increase in revenue during Q1 of 2022, including an 8% increase in average streaming paid memberships. Here’s everything you need to know about what’s going on with the streaming service.

Netflix is bleeding subscribers

The company announced that it had lost a record net 200,000 subscribers during Q1 of 2022, its biggest drop off in over a decade.

“In the near term though, we’re not growing revenue as fast as we’d like,” the company warned in a letter to shareholders. “COVID clouded the picture by significantly increasing our growth in 2020, leading us to believe that most of our slowing growth in 2021 was due to the COVID pull forward. Now, we believe there are four main inter-related factors at work.”

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The Rise Of Disney Streaming | Getentrepreneurial.com

In 2021, the biggest US beneficiary of the streaming bonanza will be Disney. After a plethora of streaming competitors launched in 2020, Netflix still added a substantial number of subscribers. As impressive as Netflix’s sustained dominance was Disney+’s ability to quickly gain viewers. These developments show there’s room for multiple services to thrive in this fast-growing market.

But no other new US streaming service had a debut like Disney+ did—we estimate that it will reach 72.4 million US monthly viewers in 2020, its first full year in service. We forecast that more than one-fifth of the US population will use Disney+ this year, and in 2024, more than one-third will. So far, other streaming entrants suffered from distribution limitations, confusing branding, or a lack of quality programming. None of these problems have hampered Disney+, which will become the third most popular US streaming service by the end of 2024.

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Netflix commits $1 billion to make New Mexico home to one of the world’s largest studios | TechCrunch

Netflix is committing $1 billion in production spend at its ABQ Studios in Albuquerque, New Mexico, along with plans to expand those studios, the company said.

In an announcement alongside New Mexico’s Governor Michelle Lujan Grisham and Albuquerque Mayor Tim Keller, Netflix’s chief executive Ted Sarandos said the company would add 300 acres to its existing space in ABQ Studios, creating one of the largest film production facilities in North America.

That means roughly 1,000 new production jobs in New Mexico over the next 10 years, the company predicted, and an additional 1,467 construction jobs to complete the expansion.

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How to group stream Hulu, Amazon, Netflix, and more with your friends | Mashable

Maybe your state is staying closed. Maybe it’s opening back up, but you still don’t feel safe going out. Either way, movie nights with friends are still vital and most of the major streaming services have official and non-official solutions to facilitate them.

We’ve done a good deal of group streaming coverage at Mashable since the COVID-19 pandemic started, and the space has evolved greatly in just a few months. Arguably, the biggest developments have come from the streaming services themselves. Six months ago, the idea that Hulu and Amazon would officially let users join a remote watch party might have seemed unthinkable. Now, it’s a reality born from unfortunate circumstances.

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Where are all the robots? | TechCrunch

We were promised robots everywhere — fully autonomous robots that will drive our cars end-to-end, clean our dishes, drive our freight, make our food, pipette and do our lab work, write our legal documents, mow the lawn, balance our books and even clean our houses.

And yet instead of Terminator or WALL-E or HAL 9000 or R2-D2, all we got is Facebook serving us ads we don’t want to click on, Netflix recommending us another movie that we probably shouldn’t stay up to watch, and iRobot’s Roomba.

So what went wrong? Where are all the robots?

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HBO Max vs. HBO Now: What if you use an unsupported device? | Fast Company

Streaming TV, once heralded as a high-tech liberator that would save us from the headaches of big cable bundles, just got another big cable-like bundle yesterday with the launch of HBO Max.

WarnerMedia’s long-awaited rival to heavy hitters like Netflix and Disney Plus includes a broad mix of movies and TV shows from the Warner and HBO libraries, along with exclusive offerings you can find only on Max. It costs $14.99 a month and you can cancel it at any time.

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Netflix adds 8.8M subscribers despite growing competition | TechCrunch

Netflix grew by 8.8 million net subscribers in the fourth quarter of 2019, according to its latest earning report, putting its growth well ahead of its forecast of 7.6 million.

The company says it has 167 million paid memberships worldwide, with more than 100 million outside the United States. It also reported stronger-than-expected financials, with revenue of $5.47 billion and earnings per share of $1.30, compared to analyst estimates of $5.45 billion and EPS of 53 cents.

That’s all despite the launch of two major streaming services, Disney+ and Apple TV+, with more competition coming this year from WarnerMedia’s HBOMax and NBCUniversal’s Peacock.

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Netflix’s Worst Nightmare Has Come True | Forbes

If there were a stock market “hall of fame,” Netflix would be a shoe-in.

Its stock has soared 8,500%+ in the last decade as “streaming” video has caught fire.

Netflix achieved those gains by stealing tens of millions of customers from cable companies. Last year, half of Americans age 22–45 didn’t watch a second of cable TV. And 35 million Americans have dropped cable in the last decade.

But it’s time to come to terms with a sad truth…

Netflix’s glory days are over. And what’s coming next won’t be pleasant if you own Netflix stock.

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