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☆ Netflix to stop reporting quarterly subs in Q1 2025
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix to stop reporting quarterly subs in Q1 2025Gene Munster, Deepwater Asset Management, and Jamie Lumley, Third Bridge analyst, join 'Closing Bell Overtime' to talk Netflix earnings.

Persons: Gene Munster, Jamie Lumley, Third Organizations: Netflix, Deepwater Asset Management

☆ Disney's $8.5 billion Reliance merger is a streaming wars win in sports-obsessed India
▼ + stars: | 2024-02-29 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Disney announced Wednesday that the companies will be merging their respective Star India and Viacom18 units into a newly created Star India joint venture, valued at roughly $8.5 billion on a post-money basis, excluding synergies. The merger is expected to have more than 750 million viewers in the rapidly growing Indian market. Cricket feverDisney acquired Indian streaming service Hotstar and Star TV channels in 2019 and had exclusive streaming rights to cricket's lucrative Indian Premier League (IPL), which it had turned into a paid service by 2020. Disney lost 4.6 million customers for its streaming service, Disney+ Hotstar, in India during the first three months of last year. "I think I said six months ago that they're [Disney] going to see profitability in streaming by the end of 2024.

Persons: Pavlo Gonchar, Walt Disney, Mukesh Ambani, Nita Ambani, Ambani, Jamie Lumley, Lumley, Jason Ware, CNBC's Organizations: Disney, Getty, Walt, Reliance, Star India, Cricket, Star, Indian Premier League, IPL, Indian Premier League cricket, CNBC, Albion Financial Locations: India

☆ Netflix is benefiting from a short-term windfall, says Third Bridge's Jamie Lumley
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix is benefiting from a short-term windfall, says Third Bridge's Jamie LumleyJamie Lumley, senior analyst at Third Bridge, joins 'Closing Bell: Overtime' to discuss Netflix earnings.

Persons: Jamie Lumley Jamie Lumley Organizations: Netflix

☆ Nasdaq 100 futures rise after Netflix posts subscriber jump: Live updates
▼ + stars: | 2024-01-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise. Futures tied to the tech-heavy Nasdaq 100 climbed Tuesday evening after Netflix reported its subscriber count reached a new record in the fourth quarter. Nasdaq 100 futures rose 0.26%, while S&P 500 futures gained 0.19%. Dow Jones Industrial Average futures inched up just 24 points, or 0.06%. Fourth quarter gross domestic product will also be released later in the week.

Persons: Dow Jones, Jamie Lumley, Dow Organizations: New York Stock Exchange, Futures, Netflix, Nasdaq, Dow Jones Industrial, Revenue, Third Locations: New York City

☆ T-Mobile lifts free cash flow forecast as profit, subscriber additions beat estimates
▼ + stars: | 2023-10-25 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

T-Mobile now expects adjusted free cash flow for the year to be between $13.4 billion and $13.6 billion, compared with its prior forecast of $13.2 billion to $13.6 billion. T-Mobile added 850,000 postpaid phone customers in the third quarter, the highest among peers, beating FactSet estimates of 773,400 additions. It raised its full-year forecast for wireless subscriber net additions to between 5.7 million and 5.9 million, up from its earlier forecast of 5.6 million to 5.9 million. The telecom industry has been seeing a gradual moderation in postpaid phone net additions after hitting record levels in 2021 and 2022. Industry-wide postpaid phone net additions are expected to moderate in 2023 to 8.5 million from a near-record 9.3 million in 2022, according to analysts at Goldman Sachs.

Persons: Leonhard Foeger, Jamie Lumley, Goldman Sachs, Samrhitha, Vinay Dwivedi Organizations: Mobile, REUTERS, Verizon, Rivals Verizon, Thomson Locations: Mobile Austria, Vienna, Austria, Bengaluru

☆ AT&T lifts free cash flow target as subscriber additions top estimates
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photo Acquire Licensing RightsOct 19 (Reuters) - U.S. wireless carrier AT&T (T.N) raised its annual free cash flow forecast on Thursday as promotions and phone upgrades boosted subscriber additions that trounced third-quarter estimates, sending its shares up nearly 5% before the bell. The company expects free cash flow of about $16.5 billion in 2023, up from its prior forecast of $16 billion or higher. It added 468,000 net monthly bill-paying wireless phone subscribers in the third quarter, surpassing expectations for 398,200 additions, according to Factset. The company raised its forecast for full-year adjusted core earnings growth to more than 4%, from a prior view of 3% or more.

Persons: Edgard Garrido, Jamie Lumley, Samrhitha, Arun Koyyur Organizations: Forbes, REUTERS, AT, Revenue, U.S, Thomson Locations: Mexico City, Mexico, Bengaluru

☆ As Hollywood strikes press on, Wall Street weighs in on the outlook for TV, streaming stocks
▼ + stars: | 2023-09-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +10 min

At the same time, legacy media companies face off against another well-known demon: cord-cutting. Technology companies such as Apple and Amazon can lean on their respective hardware and e-commerce businesses, said Paul Fanelli, a research analyst at Gabelli Funds. Even so, Wall Street sees only a handful of pure-play winners in the TV and streaming space winning consumer attention over the long run. Already, the technology companies have shown some promise. Consumers are increasingly forgoing pay TV packages from cable companies and opting for bundles from companies like Alphabet, he said.

Persons: Rosenblatt, Barton Crockett, It's, Netflix's, Ken Leon, Hollywood's, Leon, Jamie Lumley, Paul Fanelli, it's, Apple's, Amazon's, That's, Needham, Laura Martin, Martin, —, John Hodulik, CNBC's, bode, Crockett, NBCUniversal's Peacock, Brandon Nispel, Nispel, Disney's hasn't, Fanelli, that's Organizations: Netflix, Apple, Paramount, Sky, Third, Gabelli, Warner, UBS, ESPN, Fox, NFL, Hulu, YouTube, KeyBanc, Comcast, Disney, Warner Bros, Max, DIS, Rosenblatt, ABC, Nexstar, CNBC Locations: France, United Kingdom

Aug 3 (Reuters) - Warner Bros Discovery (WBD.O) warned Thursday that uncertainty over the dual strikes by Hollywood writers and actors could impact the timing of its film slate and its ability to produce and deliver content. The Alliance of Motion Picture and Television Producers, which represents Warner Bros Discovery and the other major studios in negotiations, asked to meet on Friday with the writers' guild to discuss the possibility of resuming talks. Warner Bros Discovery's revenue took a hit in the second quarter due to soft box office results, including the underperformance of the DC Comics-inspired film, "The Flash." The exterior of the Warner Bros. Under Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business more efficiently.

Persons: David Zaslav, Fran Drescher, Alyssa Pointer, Jamie Lumley, Samrhitha, Helen Coster, Mark Porter, Jonathan Oatis, Shounak Dasgupta, Marguerita Choy Organizations: Warner Bros Discovery, Hollywood, Writers Guild of America, Screen, SAG, Hasbro, Alliance, Television Producers, Paramount, Times, Variety, Warner Bros, DC Comics, Warner Bros . Discovery, Alliance of Motion Pictures, REUTERS, Discovery Inc, Total, HBO, Max, Thomson Locations: New York, Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru

The exterior of the Warner Bros. REUTERS/Alyssa Pointer/File photoAug 3 (Reuters) - Warner Bros Discovery (WBD.O) warned Thursday that the dual Hollywood strikes by writers and actors could hit its flagging studio business already bruised by high-profile box office flops including "The Flash." The shutdowns "may have implications for the timing and performance of the remainder of the film slate as well as our ability to produce and deliver content," Warner Bros Discovery CFO Gunnar Wiedenfels said. Total global subscribers for its HBO, Max and Discovery+ services stood at 95.8 million at the end of the quarter. Under CEO David Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business more efficiently.

Persons: Alyssa Pointer, Gunnar Wiedenfels, Jamie Lumley, David Zaslav, Zaslav, Samrhitha, Helen Coster, Mark Porter, Jonathan Oatis, Shounak Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Hasbro, Warner Bros, Discovery Inc, Total, HBO, Max, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

☆ Roku may have positive signs in ad revenue in the medium-term, says Third Bridge's Jamie Lumley
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoku may have positive signs in ad revenue in the medium-term, says Third Bridge's Jamie LumleyJamie Lumley, Third Bridge, joins 'Closing Bell: Overtime' to discuss Roku earnings and outlook for the company.

Persons: Jamie Lumley Jamie Lumley

☆ How Netflix can end the Hollywood strike in a way Disney, Paramount can't afford
▼ + stars: | 2023-07-20 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"The strike is not something we wanted," said Sarandos, whose company is negotiating jointly with competing movie studios like Disney and Paramount whose parent companies also own streaming services. Some big-media companies that own streaming services, like Paramount and Disney, have seen their shares drop even in the renewed bull market of the past year. LightShed Partners analyst Rich Greenfield says Netflix made $6.5 billion last year excluding interest, taxes, and non-cash charges, while rival streaming services at Paramount, Disney and NBC lost more than $8 billion. That's a relatively small number for an industry with revenues topping $70 billion, $31.6 billion of it last year at Netflix. Paramount Global's Paramount+ service lost $1.8 billion last year, but saw losses shrink in the first quarter.

Persons: Mike Blake, Mark Mahaney, Ted Sarandos, Greg Peters, Michael Pachter, Robert Iger, Iger, CNBC's David Faber, Max, Rich Greenfield, Mahaney, hasn't, Jake Urbanski, Jamie Lumley, Peters, Spencer Neumann Organizations: Guild of America, Netflix, Alliance, Producers, Wednesday, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Disney, Paramount Global, Amazon, Wedbush Securities, Television Producers, CNBC, Walt Disney Co, Sun, Paramount, Warner Bros, LightShed, NBC, Hollywood, Moody's Investors Service, Writers ' Guild of America, WGA, Twitter, Hulu, Comcast, Apple Locations: Los Angeles , California, U.S

☆ Netflix shielded from Hollywood strike by global crew, strong pipeline
▼ + stars: | 2023-07-17 | by ( Samrhitha A | ) www.reuters.com time to read: +4 min

Some of the people on strike are also picketing the Netflix offices in Los Angeles. Netflix's international production capabilities are a "huge differentiator", and a lot of their content comes from countries that are not involved in the strike, analysts at SVB MoffettNathanson, Credit Suisse and Insider Intelligence said. Netflix is expected to have added a net 1.77 million subscribers, according to Refinitiv, in what is typically a weak quarter due to school holidays. The company lost nearly 1 million subscribers in the year-ago period. The second quarter also featured some strong programming from Netflix, including hits like "Queen Charlotte: A Bridgerton Story" and "Never Have I Ever Season 4".

Persons: Gal, Michael Nathanson, Nathanson, Jamie Lumley, Charlotte, Samrhitha, Aditya Soni, Shounak Organizations: Netflix, U.S, Credit Suisse, Insider Intelligence, Disney, Reuters, Macquarie, Intelligence, Thomson Locations: Hollywood, Los Angeles, United States, U.S, Bengaluru

☆ Warner Bros Discovery's surprise loss clouds strong streaming unit show
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +3 min

[1/2] The exterior of the Warner Bros. Warner Bros Discovery reported a per-share loss of 44 cents, while analysts had expected a profit of 1 cent, according to Refinitiv data. Warner Bros Discovery's new streaming service, christened "Max," is set to launch on May 23, combining HBO Max's scripted entertainment with Discovery's reality shows. Warner Bros Discovery reported revenue of $10.70 billion for the first three months of 2023, compared with analysts' estimates of $10.78 billion, according to Refinitiv data. The Warner Bros studio segment missed on its revenue forecasts, as its big March release "Shazam!

☆ Theater chain AMC falls 8% on worries of slower box-office recovery
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said. "It will take years to see box office revenues return to 2019 levels, which they may not ever do at all," said Jamie Lumley, analyst at Third Bridge. Wedbush Securities analysts expect 2023 box office to be down 24% from 2019 levels. AMC, however, said it expects box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest. Still, AMC said it would pay down its debt of about $4.95 billion as it continued to raise cash.

☆ Roku promises cost cuts, sees robust first-quarter revenue; shares jump
▼ + stars: | 2023-02-15 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

Shares of the San Jose, California-based company rose 20% in after-market trading and later pared gains to 10% after Roku also beat fourth-quarter revenue estimates and reported a 16% jump in active users. "Despite tightening advertising budgets in the fourth quarter, ad spend on the Roku platform outperformed the overall ad and traditional TV markets in the U.S.," the company said in a statement. Roku said while pressure on ad budgets would continue in the near term, ad spending from restaurants, travel firms, consumer packaged goods and health and wellness had improved in the first quarter. For the quarter that ended Dec. 31, it reported revenue of $867.1 million, beating analysts' estimates of $801.7 million. On an adjusted basis, Roku posted a loss of $1.70 per share, narrower than an estimated loss of $1.73 per share.

"With improving churn numbers and strong 5G wireless net adds, AT&T is entering 2023 in a good position," Third Bridge analyst Jamie Lumley said. Apart from 5G technology, AT&T is also investing in bolstering its fiber-optic network, which lets it sell both broadband services and video packages. "We will be operating in a challenging macroeconomic environment where wireless industry growth is likely to return to more normalized levels." Wireless stocks in the last 12 months Wireless stocks in the last 12 monthsFor the latest quarter, AT&T added 656,000 postpaid phone subscribers, above Factset estimates of 644,800 additions. The number also came in well above Verizon's 217,000 additions, although it failed to match T-Mobile's expected 927,000 additions.

"This was my road to Damascus experience, a turning point in my understanding of the role of talent density in organizations," Hastings wrote. Hastings credits the company's culture of internal transparency and innovation, which endows top-performers with unusual autonomy, for Netflix's success. "This is a big psychological change for Netflix," said Neil Saunders, managing director of GlobalData. "There's no big strategy shifts or big culture shifts," he said in a post-earnings video interview with an analyst. They'll also need to find new sources of revenue, including in video games -- where Netflix will confront established rivals.

☆ Netflix set for slowest revenue growth as ad plan struggles to gain traction
▼ + stars: | 2023-01-17 | by ( Eva Mathews | ) www.reuters.com time to read: +4 min

REUTERS/Bing GuanJan 17 (Reuters) - Netflix Inc (NFLX.O) is expected to report its slowest quarterly revenue growth on Thursday as its ad-supported plan struggles to attract customers in the saturating U.S. market, which could pressure the company to pull back on content spending this year. "Given current interest rates, Netflix will have to be very selective about green-lighting content and how they would finance it." It returned to subscriber growth in the third quarter, but its stock, an investor favorite during its years of rapid growth, still ended the year with a drop of more than 50%. "As overall streaming growth flattens out, most of the more mature streaming platforms have leveled off as well," MoffettNathanson said, adding that Netflix's reach fell by 200 basis points in the quarter. Reuters GraphicsStill, some analysts believe that the ad-supported plan will pay off in the long run, especially in developing markets, where spending power is weaker.

☆ 3 key takeaways on how Bob Iger's surprise return to Disney could shape its sports strategy, from 'deep cost-cutting at ESPN' to 'quick wins' in sports betting
▼ + stars: | 2022-11-21 | by ( Colin Salao | ) www.businessinsider.com time to read: +7 min

Analysts expect Iger to make major changes to ESPN's broadcasting strategy for live sports. Bob Iger has been reinstated as the CEO of the Walt Disney Company, replacing Bob Chapek after less than three years at the helm. Iger's return has boosted Disney's stock price by 6% in the past day with experts predicting major strategic changes within the company. The cost of these rights deals have also continued to shoot up amid the transition from linear TV to direct-to-consumer services. It actually strengthens the brand of ESPN when you have a betting component, and it has no impact on the Disney brand."

☆ Theater chain AMC in need of more blockbuster movies, shares fall
▼ + stars: | 2022-11-08 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) said its third-quarter loss widened, with the theater chain operator burning through more cash to keep its 950 theaters running as fewer blockbuster releases reduced footfall in cinemas. The company also said it raised just $36.4 million from the sale of 14.9 million of its preferred shares APE , listed in August, sending them down 5.6% in extended trading. On an earnings call with investors, Chief Executive Adam Aron noted the number of big movie titles being released by major studios was still down 20% to 30% versus pre-pandemic norms. It is this: movie theater operators need more movies," he said. "The question for AMC comes down to how to stem losses and manage its balance sheet while facing fewer major movies in the pipeline and ongoing operational challenges," said Jamie Lumley, analyst at Third Bridge.

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