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By Joe Flint The Wall Street Journal Sat., July 21, 2018 Netflix is coming to radio. The streaming-content giant has cut a deal with Sirius XM Holdings Inc. to create a comedy channel with the satellite-radio broadcaster, according to the companies. For Netflix Inc., the platform — dubbed Netflix Is a Joke Radio — will give it a new outlet to use its rapidly growing library of comedy content and potentially drive SiriusXM subscribers back to its own service. Besides using the channel as a promotional tool for its stand-up specials, Netflix will also create original content for it with its talent. The SiriusXM partnership, scheduled to launch by January 2019, marks the first time Netflix has moved beyond video and partnered with another distribution platform to create a Netflix-branded product. The push beyond its own platform comes as Netflix faces increased competition from its rivals. Hulu — the streaming service co-owned by Walt Disney Co., 21st … [Read more...] about Netflix creating comedy radio channel with SiriusXM
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Netflix shares tank after big miss on subscriber growth
(Reuters) - Netflix Inc’s subscriber growth fell short of Wall Street expectations on Monday, sending shares of the normally high-flying stock down 14 percent on fears that the company’s expansion is slowing. The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson The company added 5.2 million customers from April through June, 1 million fewer than forecasts from Thomson Reuters I/B/E/S, as it added new programming including “Lost in Space” and new episodes of Marvel’s “Jessica Jones” and “13 Reasons Why.” “We had a strong but not stellar Q2,” Netflix said in a quarterly letter to shareholders. Netflix said it had “over-forecasted” quarterly fluctuations in the pace of new customers. The company noted that it had underestimated subscribers for seven of the past 10 quarters. Before the earnings report, Netflix shares had … [Read more...] about Netflix shares tank after big miss on subscriber growth
Netflix shares tank after subscriber numbers miss targets
(Reuters) - Netflix Inc’s subscriber growth and forecast fell short of Wall Street expectations, sending shares of the normally high-flying stock crashing 14 percent on Monday. The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson The company’s total monthly customers reached 130 million worldwide, 1 million fewer than forecasts from Thomson Reuters I/B/E/S, as it added new programming including “Lost in Space” and new episodes of Marvel’s “Jessica Jones” and “13 Reasons Why.” “We had a strong but not stellar Q2,” Netflix said in a quarterly letter to shareholders. Netflix said it had “over-forecasted” quarterly fluctuations in the pace of new customers. The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson Before the earnings report, Netflix … [Read more...] about Netflix shares tank after subscriber numbers miss targets
Tencent and JD.com invest in Leshi’s smart-TV unit
HONG KONG (Reuters) - Technology giants Tencent, JD.com and TCL are among investors in Chinese TV maker New Leshi Zhixin, its controlling shareholder Leshi Internet Information and Technology said on Wednesday. A Tencent sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song Affiliates of Tencent Holdings, JD.com Inc, TCL Corp and Suning.com Co have agreed to each invest 300 million yuan ($48 million) in the manufacturer of smart TVs among backers investing a combined total of up to 3 billion yuan, Leshi said in a Shenzhen stock exchange filing. The new funds will help with a capital shortage at the company and boost operations, Leshi said. Leshi’s holding in New Leshi Zhixin will be diluted to 33.46 percent from 40.31 percent after the transactions, but it will remain as the biggest shareholder. A JD.com sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, … [Read more...] about Tencent and JD.com invest in Leshi’s smart-TV unit
Netflix original shows lure more new subscribers than expected
(Reuters) - Netflix Inc’s blitz of new programming attracted a surprisingly high 7.4 million new customers from January to March, reassuring investors who are betting the video streaming pioneer’s massive spending will fuel growth around the world. The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake Shares of Netflix jumped more than 7 percent in after-hours trading on Monday to $330.30. They are up 65 percent this year. Wall Street expected Netflix to add 6.5 million new subscribers, according to FactSet data. Netflix topped that and also said it would bring in 6.2 million more customers from April through June, one million more than analyst predictions. Netflix is spending up to $8 billion on global TV shows and movies in 2018. As it has expanded to some 190 countries, investors accepted negative free cash flow in exchange for the potential of outsized growth in … [Read more...] about Netflix original shows lure more new subscribers than expected