Netflix beat Q3 expectations, adding more than 2.4 million subscribers, more than twice the StreetAccount projection. The majority of growth was generated in the Asia-Pacific region, accounting for an additional 1.43 million paid accounts, while North America increased by 100,000. Improvements on the top and bottom lines sent Netflix shares surging more than 14 percent after Tuesday’s bell. Revenue was $7.93 billion, versus a $7.837 billion Refinitiv estimate. That was up almost 6 percent from Q3 2021, although the $1.4 billion in profit represents a 3 percent decrease from the same period last year. Meanwhile, Netflix will launch its ad-supported tier in two weeks and plans to start cracking down on account sharing in 2023. Continue reading Netflix Tops Q3 Forecasts as the Service Schedules Changes

Twitter’s second quarter revenue of $1.18 billion underperformed 2021 by only one percent but fell short of estimates by more than 10 percent, disappointing Wall Street, which projected revenue of $1.32 billion for the period. Advertising crept up two percent, to $1.08 billion, but overall Twitter had a quarterly net loss of $270 million, largely attributed to recessionary headwinds and uncertainty about Elon Musk’s proposed takeover. In its earnings report, Twitter said its lawsuit against Musk has been granted an expedited trial for October 2022. Continue reading Ad Market and Musk Credited for Twitter’s Missed Earnings

Global research firm Nielsen has unveiled The Gauge, a new metric for measuring monthly total TV and streaming audiences. The company revealed that, in May 2021, 64 percent of the time U.S. viewers watched content via network and cable TV and 26 percent of the time watched via streaming services. Another 9 percent of the time, they used their TV screens for content recorded on DVRs or playing video games. Nielsen added that streaming was at 20 percent last year and 14 percent in 2019 and that its share could go up to 33 percent by the end of 2021. Continue reading Nielsen Unveils The Gauge, a Metric for Streaming Platforms

Google’s YouTube earned $6.01 billion in advertising revenue in Q1, a 49 percent growth from the $4 billion a year ago. In Q4, YouTube’s growth rate was 46 percent. But, more notably, its current growth rate is almost twice that of Netflix’s, which reported a 24 percent revenue bump in Q1 and anticipates 19 percent growth in Q2. Market data provider Refinitiv reported that, should the trajectory continue, YouTube is on track to take in between $29 billion and $30 billion in revenue in 2021, compared to Netflix’s expected $29.7 billion. Continue reading YouTube Revenue Could Surpass Netflix Numbers This Year

Major Hollywood movies are finally being released in movie theaters, with “The New Mutants,” which had a $70+ million budget, and director Christopher Nolan’s “Tenet,” a $200 million thriller. But it’s still unclear how many people in the U.S. feel safe enough to go inside. Abroad, “Tenet” raked in $53 million on its opening day weekend from 41 global markets, a source of optimism for Warner Bros. (the film opens in the U.S. and China this week). Pirates have been foiled, meanwhile, fooled into downloading fake torrents of the blockbuster. Continue reading Release of ‘Tenet’ Could Be a Bellwether for Movie Exhibitors

The coronavirus is hitting the National Association of Theatre Owners particularly hard, as local governments close movie theaters and consumers turn to streaming services. Regal Cinemas announced it is closing all its theaters, effective today, until further notice. Meanwhile, studios are reconsidering the exclusive 90-day window for theatrical exhibition. Universal Pictures is the the first major studio to announce a change to the traditional model. “We hope and believe that people will still go to the movies in theaters where available, but we understand that for people in different areas of the world that is increasingly becoming less possible,” said NBCUniversal CEO Jeff Shell. Continue reading Theaters Hit Hard by Coronavirus as Streamers Reap Rewards

Locast is a streaming service that allows those without a pay-TV subscription to watch sports, news and primetime broadcast programming. Backed by the non-profit Sports Fan Coalition, Locast last week received a $500,000 contribution from AT&T. The service has launched in New York and Los Angeles among other large markets. But Locast has not received TV stations’ consent to carry their feeds, something required by federal copyright law, nor is it paying fees, which comprise a significant portion of broadcasters’ revenue. Continue reading Streaming TV Service Locast Receives a Boost From AT&T

Instagram is threatening to overshadow its parent company Facebook. The platform now has 1 billion users, more than Facebook had when it bought Instagram for $715 million, and, according to Bloomberg Intelligence, is worth more than $100 billion. Most critically, Instagram appeals to a younger demographic, which Facebook needs to keep growing. Other Facebook users are also gravitating to Instagram’s more lighthearted photo and video app, in the wake of Facebook’s involvement in privacy and political scandals. Continue reading Facebook Strategizes Ways to Draft Off Instagram’s Growth

AT&T launched WatchTV, a “skinny bundle” video service aimed at luring cord cutters. The package offers a select number of TV channels for as little as $15 per month and gives free access to subscribers on unlimited data plans. For now, the service will be free with the company’s two top-tier wireless plans; the $15 per month plan will launch later. Among the channels to be included are AMC Networks and Discovery; Viacom’s Comedy Central and MTV2 will be added after launch. AT&T just acquired Time Warner for $81 billion. Continue reading AT&T Looks to Attract Cord Cutters With New Video Service

Hulu with Live TV has reached about 450,000 paid subscribers, while YouTube TV now has more than 300,000, according to sources familiar with the private figures. Neither service has reached the success of leading live-streaming services such as Dish’s Sling TV (more than 2 million subscribers) and AT&T’s DirecTV Now (1 million subscribers), but Hulu and YouTube only launched their offerings last year. Sling TV is the oldest, having launched in 2015, and DirecTV Now experienced recent growth after promotional deals offered free HBO and the option to add the service to mobile plans for $10 a month. Continue reading YouTube TV, Hulu Live TV Experience Early Subscriber Growth

Later this year, Comcast will debut a prepaid service similar to the plans wireless companies use to attract low-income households. Dubbed Xfinity Prepaid Services, the customer can buy TV or Internet services for seven or 30 days at a time, with a one-time equipment set-up fee. Upon completion of the term, the user can renew the service with no limitations. Xfinity Prepaid Services will first be available in Illinois, Michigan, Georgia, Florida and Indiana. Comcast will extend the service to all its customers by end of 2017. Continue reading Comcast to Roll Out its Xfinity Prepaid Services in Five States

As more consumers are cutting the cord and watching broadcast and cable TV shows via Netflix, Amazon and Hulu, network executives are rethinking their deals with those streaming services. They’re especially eyeing contracts with Netflix, which pays a flat fee, doesn’t have advertising and has upped its production of original content. Just how volatile the field is was reflected in an August sell-off of media stocks during which entertainment companies lost over $60 billion in value in two days. Continue reading Cord-Cutting Trend Spurs Hollywood to Tweak Netflix Deals

When PBS talked with “Sesame Street” producers about the future of the 45-year old children’s educational TV series, the choices were few. The show had been running a production deficit for years and suffered from changes in viewing habits. If the show wanted to continue production and stay on PBS, it only had one solution: find a production partner. HBO stepped into that role, highlighting a little known fact: that companies like HBO, Netflix and Amazon all take kids’ TV seriously. Continue reading Children’s Programming Counts on HBO, Netflix, and Amazon

Netflix and the Weinstein Company announced yesterday that they plan to release the sequel to “Crouching Tiger, Hidden Dragon” simultaneously via Netflix and a select number of IMAX theaters next August. This will mark the first time a major film debuts via online streaming and in theaters at the same time. The follow-up to Ang Lee’s Academy Award-winning martial arts drama will reportedly be the first of several films backed by Netflix that are expected to follow the new release model. Continue reading ‘Crouching Tiger’ Sequel Slated to Debut Via Netflix and IMAX