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Is Netflix recession resistant? JPMorgan thinks so
  + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com   time to read: +2 min
Netflix is one of the few bright spots among media names in the case of an economic slowdown, according to JPMorgan. Netflix shares are trading just 2% lower following its second-quarter earnings announcement on July 18, whereas the S & P 500 is currently down 4% over the same period. In the second quarter, Netflix reported a 34% yearly increase in its ad-supported memberships, and total memberships topped analysts' forecasts. Anmuth added, "We generally view subscription services like NFLX (and SPOT ) as being more resilient during periods of macro pressure." A potential weak spot for Netflix may be a softening digital ad market.
Persons: Doug Anmuth, NFLX, Anmuth, — CNBC's Michael Bloom Organizations: Netflix, JPMorgan, Big Tech, Spotify
But, Mau said, she was also inevitably able to draw from some of her own personal experiences. He won’t stop talking about her, and she seems to be taking up a lot of space in his life. Maybe it’s not so much who she is, but what she gives you.’”It’s that kind of moral ambiguity that, Mau speculates, has transformed “Baby Reindeer” into a global phenomenon. Unmasking the real identity of Martha is “not what the show is about,” Mau said. But the general public doesn’t seem to realize “that trans people are also really funny,” Mau added.
Persons: Mau, Donny, “ I’ve, ” Mau, Teri, Martha, , , Richard, “ Donny, hasn’t, Fiona Harvey, Harvey, Gadd, Penn Badgley, Organizations: Netflix, Television, Association, Gotham TV, NBC Locations: Latina, Scottish
Though she commands a hefty $400,000 salary today, Sora Lee knows about starting small. Lee earned a $40,000 base salary, plus a $6,000 bonus, at a startup called TubeMogul after graduating from college in 2011. Before starting at TikTok, she worked for — and successfully negotiated big salary increases at — Netflix and Meta. Be ready to negotiateAlong with plenty of other career experts, Lee recommends preparing to negotiate when you're expecting a job offer. When she was interviewing for her role at Netflix, Lee received an offer for a job at another firm.
Persons: Sora Lee, Lee, — Lee Organizations: , Netflix, Meta Locations: TikTok
Signs of Life Appear in TV Show Purchases
  + stars: | 2024-07-01 | by ( John Koblin | ) www.nytimes.com   time to read: +1 min
It has been nearly seven months since Hollywood resolved its strikes, but momentum still hasn’t taken hold in the entertainment industry. But the global market for ordering new TV shows is beginning to show some signs of life, and it’s been overwhelmingly driven by two players — Netflix and Amazon. Netflix greenlit more scripted television projects through the first quarter of this year than in any quarter since 2022, according to Ampere Analysis, a research firm. Amazon had its most active quarter since Ampere started tracking market activity five years ago, the firm said. As a result, Netflix and Amazon collectively accounted for 53 percent of the scripted television series orders among the major studios through the first three months of the year, according to Ampere.
Persons: it’s, Ampere Organizations: Hollywood, Netflix, Ampere, Amazon
When my editor asked me to track all the ads I saw in a day, I wasn't sure how it would go. To personalize Google ads, for example, you can go to "My Ad Center" and opt to turn personalized ads on or off in the top-right corner. If you turn them on, Google will use the information it collects about you to give you more personalized ads. I decided to keep personalized ads off for Google because that's how I usually have it. I also found some of the TikTok ads interesting or helpful.
Persons: , Elon Musk's X, Instagram, I'm, Ana Altchek, I've Organizations: Service, Business, Google, Facebook, YouTube, Urban Outfitters, Netflix, Amazon, Spotify
Read previewWarning: spoilers ahead for "Bridgerton" season three, part one. "Bridgerton" star Luke Newton improvised a move described as one of season three's most "insane" moments. Since "Bridgerton" season three, part one, came out last Friday, fans have obsessed over the long-awaited sex scene between Colin Bridgerton (Newton) and Penelope Featherington in episode four. In the scene, Colin puts his hand underneath Penelope's dress as they make out in a carriage. We have Nicola Coughlan and Luke Newton reacting to THE CARRIAGE SCENE.
Persons: , Luke Newton, Colin Bridgerton, Penelope Featherington, Colin, Colin's, Penelope, ikki, Lu, Li Organizations: Service, Business, ASK, IDEA Locations: "R
CNN —Tom Brady took some major hits by his former teammates, comedians and even Kim Kardashian during Netflix’s “The Greatest Roast of All Time” on Sunday. Boston-native and Brady fan Ben Affleck revealed that while the two were filming a Super Bowl spot, Brady asked the actor and director to look at his social media comments. #TomBradyRoast pic.twitter.com/Mp0mYZXdn3 — Netflix (@netflix) May 6, 2024Brady may have seen certain defeat on Sunday but his decades-long NFL career is nothing short of remarkable. He is also a five-time Super Bowl MVP and won three NFL MVP awards. At the end of the roast, Brady finally had the chance to defend himself, saying that people had asked him why he agreed to do the event.
Persons: Tom Brady, Kim Kardashian, Netflix’s, Kevin Hart, Gisele Bündchen, “ deflategate ”, Jeff Ross, Brady, Kardashian, “ I’d, I’d, , Ben Affleck, ” Affleck, ” Will Ferrell, Ron Burgundy, , ” Brady, Rob Gronkwoski, Julian Edelman, Randy Moss, Drew Bledsoe, Bill Belichick, Peyton Manning, Robert Kraft, Gronkowski, Belichick, Bert Kreischer, Tom Segura, Nikki Glaser, Andrew Schulz, Tony Hinchcliffe, Sam Jay, Glaser, Tom, I’ve Organizations: CNN, Netflix, NFL, New England Patriots, Patriots, Sunday, Rings, Tampa Bay Buccaneers Locations: Boston, Denver, Louisiana
Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, the quarter marks one of the last glimpses investors will get of the company's subscriber base going forward. The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarter. Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. As of Thursday morning, the company's stock was up 27% year to date and around 85% over the last 12 months.
Persons: we've, we're, Ted Sarandos, Jake Paul, Mike Tyson Organizations: Netflix, LSEG Revenue, LSEG, TKO, Holdings, WWE
Related storiesHere's the true story of "Baby Reindeer," and what we know about the real Scott. Gadd knew he had an interesting story to tell when Scott was stalking himRichard Gadd as Donny Dunn and Jessica Gunning as Martha Scott in "Baby Reindeer." pic.twitter.com/7jKVplc5vX — Netflix (@netflix) April 13, 2024Gadd told Netflix's Tudum that he knew he had a good story to tell, even while being stalked. Jessica Gunning as Martha Scott in "Baby Reindeer." It's unclear if this also happened in real life, but Gadd told The Times that the situation is over.
Persons: , Richard Gadd, Donny Dunn, It's, Martha Scott, Gadd hasn't, Donny, I'd, Scott, Gadd, Jessica Gunning, Ed Miller, didn't, " Gadd, That's, Netflix's, Dunn Organizations: Service, Netflix, Edinburgh Fringe, Business, Independent, Times Locations: Edinburgh
Netflix's "Perfect Match" season two will premiere sometime this summer. AdvertisementNetflix's super-reality show "Perfect Match" is coming back — and you'll recognize a few familiar faces from "Love Is Blind." We don't know too much yet about "Perfect Match" season two — but here's everything that we've learned so far. When will 'Perfect Match' season 2 premiere? But host Nick Lachey confirmed during the "Love Is Blind" season six reunion that it would be hitting screens sometime this summer.
Persons: alums Izzy Zapata, Micah Lussier, Jessica Vestal, , it's, we've, Nick Lachey, Vanessa Lachey, Izzy Zapata, Micah, Jess, Izzy, Lachey, Vestal, Zapata, Stacy Snyder, didn't, Lussier, Paul Peden, Netflix hasn't, Constantin, Trevor Sova, Sova's, Natalia Coelho, Harry Jowsey, Reality Ashley, Dom Gabriel, Jowsey Organizations: Service, Netflix, Clemson, TMZ, Jowsey Locations: Mexico
Read previewThe year of the chicken nugget (2017) and the chicken sandwich wars (2019) might have paved the way for fried chicken's latest role: star of a Netflix show. Next month, the streaming giant is releasing a bizarrely fun-looking comedy based on a Korean web cartoon called, fittingly, "Chicken Nugget." 🐣 Premiering March 15 pic.twitter.com/syGYVrzZS7 — Netflix (@netflix) February 15, 2024The premise of "Chicken Nugget" is silly, of course — but the show underscores the bird's soaring global popularity. And in the early 1960s, a renowned Cornell University professor engineered one of the Ivy League's greatest contributions to humanity: the frozen chicken nugget. It's unclear if the young woman in the forthcoming Netflix series turns into a particular flavor of chicken nugget.
Persons: , ike, ince, ounger,, oung Organizations: Service, Netflix, Business, ust, EO Locations: oman
My town was a filming location for several scenes in "Avengers: Infinity War," and it wasn't uncommon to stumble upon a set. AdvertisementNow, Edinburgh seems to be a hot spot for film crews. But, as a resident, the luster of celebrity sightings and film crews is starting to wear off. In this small city, the stunt immediately raised alarm bells. The small city has been greatly impacted by the attention from Hollywood.
Persons: , Wanda, Vision's, Bethany Gemmell, Captain America, there'd, Marvel, Guillermo Del Toro's, I've, it's Organizations: Marvel, Service, University of Edinburgh, Waverley, Edinburgh Fringe Locations: Edinburgh, Scotland, Bethany, London, Hollywood
Read previewCash-hungry entertainment studios are back in the content licensing game, sending their valuable shows like HBO's "Sex and the City" and Disney's "Grey's Anatomy" back to Netflix. Licensing has historically been a mainstay of entertainment companies, except for a brief period when many hoarded content while they built up their own streaming services. "It's the future," said Dan Cohen, the chief content licensing officer at Paramount. Netflix and other entertainment companies that sought full ownership of content as they built up their streaming services are now becoming more agnostic about it. But, for now, the major entertainment companies don't have much of a choice.
Persons: , Mike Pears, Pears, Jessica Reif Ehrlich, Dan Cohen, Reif Ehrlich, Mitch Metcalf, Metcalf, Meeka Bondy, Perkins, John Hodulik, Tim Nollen, Netflix's, it's, Nollen Organizations: Service, Netflix, Business, AMC, Apple, Warner Bros . Discovery, Paramount, Bank of America, ABC, NBC, Metcalf Entertainment Intelligence, UBS, CBS, Macquarie, Hulu
Netflix movie boss Scott Stuber, who joined in 2017, is leaving. AdvertisementOn Monday, when Netflix announced that Scott Stuber, their longtime film boss, was leaving to start his own production company, we wondered what the backstory was. Or, more accurately, one version of the answer: Stuber, who Netflix brought in to ramp up its movie business in 2017, was sick of making so many movies. Related storiesHe also wanted to get those movies into movie theaters, with wide distribution, before they came to Netflix. Sarandos and Bajaria—Stuber's boss since last January—wanted none of that, even though Netflix loses many coveted projects over the theater issue.
Persons: Scott Stuber, , Ted Sarandos, Bela Bajaria —, — Kim Masters, Matt Belloni, Stuber, Here's, Bela Bajaria, He'd, Chris Nolan wouldn't, Oppenheimer, Belloni, Sarandos, Oscar Organizations: Netflix, Service, — Netflix, Hollywood, Apple, Sundance, Big Bad Locations: Puck, Hollywood
Netflix — Netflix's stock price jumped 9.2% after topping analysts' revenue and subscriber growth expectations during the fourth quarter. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025.
Persons: SAP's, Dupont, Tesla, , Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Netflix, Texas, SAP, Dupont de Nemours, EBay, NewStreet Research, AMD
SAN FRANCISCO (AP) — Netflix registered its third-consecutive quarter of accelerating subscriber growth in the final three months of 2023, closing out a comeback year that included a crackdown on viewers freeloading on the video-streaming service and a smattering of price hikes. Political Cartoons View All 253 ImagesThe rising tide of customers left Netflix with more than 260 million global subscribers at the end of 2023 — an annual increase of nearly 30 million subscribers. Last year’s performance was a stark contrast to 2022’s increase of 8.9 million subscribers — a lackluster showing that raised questions whether the video-streaming pioneer was losing steam amid stiffening competition for viewers. The revenue exceeded analysts' forecasts, while earnings per share missed analyst targets, partly because of a $239 million charge tied to its foreign debt. The company's shares rose nearly 7% in Tuesday's extended trading after its fourth-quarter numbers came out.
Persons: , Oscar, “ Maestro Organizations: FRANCISCO, Netflix, Research, Revenue, Walt Disney Co, Warner Bros, Discovery Locations: Gatos , California
If you do work in movies, you almost certainly have heard of him: He's the guy in charge of Netflix's movie division, and for years, Netflix's movie division made a lot of movies, at a time when lots of studios were shrinking. Now that's changing, and now Stuber isn't going to be at Netflix anymore: Netflix says he's leaving to start his own media company. And a few months after that, when Stuber's name was floated as a possible contender to run Amazon's movie business, he didn't seem long for the place. Now, Stuber said, Netflix was going to cut its output in half so it could make things better things. Asked for comment, a Netflix spokesperson supplied quotes from Stuber, Sarandos, and Bajaria saying nice things about each other.
Persons: Scott Stuber's, Stuber, Ryan Reynolds, Martin, Scott, Reed Hastings, Ted Sarandos, Greg Peters, Bela Bajaria, We'd Organizations: Netflix, Business, Universal, Stuber, Hollywood, Variety Locations: Hollywood, Stuber
In the clip, player Spencer Hawkins gags and curls up into a ball after losing the cookie challenge. Hawkins reacted to going viral in a TikTok video, and shared more behind-the-scenes insight. Advertisement"Squid Game: The Challenge" contestant Spencer Hawkins — player 299 — has responded to a viral clip of him crying and gagging after being eliminated from the show. So, going into the game, Hawkins said in a TikTok video posted Monday, he was already feeling anxious. AdvertisementHawkins went on to say they he also made some friends in the umbrella group.
Persons: Spencer Hawkins, Hawkins, , @spencer_hawkins299, ince, ines, ike, hank, ove Organizations: Service, Netflix, ust
New York CNN —Hollywood writers and actors are going back to work after one of the longest strikes ever in the entertainment industry. Hollywood is in a rebuilding era — a painful, awkward transition fueled by tectonic changes in technology and consumer behavior. Strikes, while disruptive, were only a blip compared with the many other existential quandaries weighing on media companies. Cable TV sign-ups have been rapidly falling for a decade, and no one believes that trend is going to reverse. Netflix and Disney aren’t just competing against each other, they’re also competing with YouTube and TikTok and endless podcasts.
Persons: CNN Business ’, Bob Iger, , , We’re, Hulu —, Peacock, HBO Max — we’re, Max, “ OTT ” —, Iger, aren’t, Harrison Ford, Disney, they’re, That’s, Barbenheimer ”, Taylor Swift, Indiana Jones, you’ll Organizations: CNN Business, New York CNN, Hollywood, Studio, Disney, Paramount, Warner Bros, Cable, Netflix, Hulu, Apple, Amazon Prime, HBO, CNN, Discovery, Disney aren’t, YouTube, Intelligence Locations: New York
The $15.50 per month price for Netflix's most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials. The increase left Netflix with about 247 million worldwide subscribers, well above the 243.8 million projected by analysts surveyed by FactSet Research. Netflix has picked up more than 16 million subscribers through the first nine months of the year, already eclipsing the 8.9 million subscribers that it added all of last year. The crackdown also has boosted Netflix’s in another way – current subscribers can share their accounts with someone living outside their households by paying higher monthly fees. The higher prices for Netflix's premium plans also seems likely to divert more subscribers into the ad-supported option.
Persons: it’s, , Greg Peters, hasn’t, Harding, Uday Cheruvu, Peters, ” Cheruvu, , , Scott Purdy Organizations: FRANCISCO, Netflix, FactSet Research, Google, Facebook, Microsoft, KPMG Locations: U.S, , France, Los Gatos , California
LOS ANGELES — Netflix is due to report third-quarter earnings after the closing bell Wednesday. The streaming company is still navigating its transformation from focusing on subscriber growth to focusing on profit, using price hikes, password crackdowns and ad-supported tiers to boost revenue. Investors will be looking to hear from the company's executives about how Netflix will grapple with these headwinds and for a status report on its ad tier. Additionally, they have signaled that operating margins will grow more gradually going forward as it invests in more growth opportunities. It's been less than six months since Netflix instituted its password crackdown, so it's unclear what impact that initiative has had for the company and how much executives will share.
Persons: It's Organizations: Netflix, Wall Street, Company, shouldn't
Whether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game. Netflix announced it would broadcast "The Netflix Cup" live, a matchup between athletes that appeared in the Formula 1 docuseries and the golf series "Full Swing." Even though customers are fleeing traditional TV, from the cable-TV bundle to broadcast, those that stick around often do so for the live sports. That showed in September, when the return of the National Football League and college football seasons propelled both broadcast and cable-TV viewership. It has been a gradual move toward both sports and live streaming — Netflix had technical issues when it aired the finale of reality show "Love is Blind" earlier this year — but one the streamer appears ready to make.
Persons: Max, NBCUniversal's Peacock Organizations: Netflix, Sports, Heineken Silver Las Vegas, National Football League, Nielsen, ESPN, Warner Bros, Disney, NFL, NBC, CNBC Locations: Las Vegas
Harry Bosch, has become the longest running character on streaming television. Based on his book series, “Bosch” ran seven seasons on Amazon, and then spun off as “Bosch: Legacy,” which premieres its second season Friday on Amazon Freevee. AP: How many different adventures can Harry Bosch and these characters have on screen? CONNELLY: Harry Bosch and Mickey Haller have daughters the exact same age as my daughter. So, Harry Bosch started out as a cop, and he was an outsider.
Persons: — Michael Connelly, Harry Bosch, ” Connelly, “ Bosch ”, “ Bosch, that’s, Mickey Haller, Bosch, CONNELLY, we’ve, ‘ Bosch, Maddie, I’m, ? CONNELLY, don’t, Mickey, Harry Organizations: Netflix, Lincoln Lawyer, Associated Press Locations: Los Angeles, Ukraine
On Friday, Gordon Haskett upgraded the stock to buy , saying Dollar General's latest leadership change could help stabilize the company. Wells Fargo — The bank stock gained close to 3% after Wells Fargo posted third-quarter results that beat expectations. Citigroup — Shares of the New York-based bank rose 1.4% after posting its third-quarter results . Citigroup reported $1.63 in earnings per share, or $1.52 per share, excluding the effect of divestitures. Post Holdings — Shares of the packaged food company gained 2% after JPMorgan initiated coverage with an overweight rating on shares.
Persons: Todd Vasos, Gordon Haskett, JPMorgan Chase, Wells Fargo, LSEG, JD.com, Morgan Stanley, UnitedHealth, CNBC's Hakyung Kim, Samantha Subin, Pia Singh, Tanaya Macheel, Jesse Pound Organizations: Boeing —, Boeing, JPMorgan, Revenue, LSEG, Citigroup —, Citigroup, PNC Financial, PNC, Oil, EOG, ConocoPhillips, Exxon Mobil, Progressive, Post Holdings, Netflix, Wolfe Research, Dow, United Food, Commercial Workers International Union, Hormel Locations: York, China
Netflix replaced its top advertising executive, Jeremi Gorman, after just a year, in a surprise shakeup of its nascent ads business. Insiders said they believed the choice of Reinhard to replace Gorman was a move designed to help sell the advertising business internally. But she's been with the company since 2016 and is known as a level-headed exec who understands the Netflix culture well. This summer, the company eliminated its lowest-priced ad-free tier to incentivize customers to sign up for the ads tier. We've built a world-class team and laid the foundations needed to create a forever ads business."
Persons: Jeremi Gorman, Gorman, Peter Naylor —, Amy Reinhard, Naylor, Reinhard, Greg Peters, Eunice Kim, Elizabeth Stone, she's, She's, they've, We've, Spencer Neumann, Peters Organizations: Netflix, Microsoft, Yahoo
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