Netflix revenue grew to $11.08 billion in Q2, a 16 percent year-over-year increase that helped drive net profit up 46 percent to $3.1 billion. The company’s operating margin rose to 34.1 percent in Q2, a nearly 7-point rise over Q2 2024 that along with 30 percent full-year guidance puts the streamer on par with tech giants such as Apple (31 percent) and Google (32 percent). Although Netflix no longer provides quarterly subscriber updates, the company did share results of its half-year Engagement Report, indicating members watched more than 95 billion hours of Netflix content during the first six months of the year. Continue reading Netflix Records Impressive Q2: Revenue Reaches $11 Billion

Spotify has launched a Netflix Hub designed to extend the experience of enjoying one’s favorite streaming films and shows through official soundtracks, playlists, podcasts and  exclusive Spotify content. Spotify explained the evolution of the pre-existing partnership by pointing out that within two weeks of the premiere of Netflix’s “Squid Game,” Spotify listeners “created more than 22,500 unique themed playlists.” The new Hub will include “experiences” like the recent Netflix collaboration on an “enhanced album” for the revisionist Western “The Harder They Fall,” featuring producer Jay-Z in a behind-the-scenes look at the soundtrack. Continue reading Spotify Launches Netflix Hub with Soundtracks and Podcasts

Streaming giant Netflix has plans to open an e-commerce shop to sell branded goods tied to its many popular shows. The effort is led by Netflix vice president of consumer products Josh Simon, who held a similar position at Nike. Thus far, Simon has grown his team to 60 people (from 20) and inked deals with Amazon, Sephora, Target and Walmart to sell beauty kits, clothes, toys and other products related to its series and films. The online store — which Simon dubs a “boutique” — was created with e-commerce tech company Shopify. Continue reading Netflix to Launch Online Shop for Show-Branded Merchandise

Streaming services have operated worldwide, largely untouched by local censorship laws. As Netflix expands, however, it’s starting to encounter local sensitivities. So far, the company has experienced the impact of local laws in Turkey, India and Saudi Arabia. In its 2018 annual report, among business risks, Netflix listed “censorship” and “the need to adapt our content and users interfaces for specific cultural and language differences.” But with subscriber growth plateaued at home, Netflix must seek expansion abroad. Continue reading Netflix Seeks Growth Abroad, Bumps into Local Censorship