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[1/3] A man looks at his phone as he passes by a screen advertising Walt Disney's streaming service Disney+ in New York City, U.S., November 12, 2019. The division ended the quarter with an operating loss of $659 million, compared with $1.1 billion in the prior quarter. At the same time, total subscribers to the flagship Disney+ service dropped by 4 million to 157.8 million. Inge Heydorn, a fund manager at GP Bullhound, said a question for investors is: "are the trade offs from lower marketing costs leading to lower subscribers?" "We've only just begun to scratch the surface of what we can do with advertising on Disney+," Iger said on a conference call with analysts.

The company plans to expand its streaming offerings by the end of the year with a new app that combines Disney+ and Hulu, Chief Executive Bob Iger said. Total subscribers to the flagship Disney+ service dropped by 4 million from the previous quarter to 157.8 million. Most of the defections came from the Disney+ Hotstar offering in India after it lost streaming rights to Indian Premier League cricket matches. "Striking a fine balance between customer acquisition versus financial performance is no easy feat." As Disney tries to build streaming, its traditional television business faces hurdles.

☆ Streaming broke the career ladder, striking Hollywood writers say
▼ + stars: | 2023-05-08 | by ( Lisa Richwine | ) www.reuters.com time to read: +4 min

How to train and support a new generation of writers is a sticking point in contract negotiations between the WGA, which represents 11,500 film and TV writers, and Hollywood's major studios. Netflix Inc (NFLX.O) and other streaming services began crafting shorter series in "mini rooms" with fewer writers. The WGA, however, is seeking a requirement for at least six TV writers per series, with half of them being employed throughout the production. Now, half of all writers work at minimum salary levels, the WGA said. "I want to be part of fighting for a better future," Smith said while holding a "Writers Guild of America On Strike" sign.

LOS ANGELES, May 8 (Reuters) - Writing for a new season of "The Handmaid's Tale" and a coming "Game of Thrones" prequel was halted as a nearly week-long strike by thousands of film and television writers rippled across Hollywood on Monday. Writing of the dystopian drama stopped when the Writers Guild of America (WGA) called a strike last week, Chang told Reuters on Monday. Martin said in a blog post that the writers' room for prequel series "A Knight of the Seven Kingdoms: The Hedge Knight" was "closed for the duration of the strike." Warner Bros has not announced a release date for "The Hedge Knight." The second season of "House of the Dragon," another "Game of Thrones" prequel, began filming in April, Martin said, and will continue in London and Wales.

[1/3] Writers Guild of America members and supporters picket outside Sunset Bronson Studios and Netflix Studios, after union negotiators called a strike for film and television writers, in Los Angeles, California, U.S., May 3, 2023. REUTERS/Mario AnzuoniLOS ANGELES, May 4 (Reuters) - The group representing Hollywood studios fired back on Thursday at claims from striking film and television workers that they have been forced into the "gig economy" because of changes brought by the streaming TV era. Roughly 11,500 members of the Writers Guild of America (WGA) went on strike on Tuesday, saying that studios had "created a gig economy inside a union workforce." Most TV writers, the group said, are employed on a weekly orepisodic basis, with a guarantee of a specified number of weeks or episodes. Writers say they are working more and making less as studios have shifted their focus to streaming over traditional TV and cable.

Production also was halted in Los Angeles for the rest of the week. REUTERS/Aude GuerrucciThe writers are seeking changes in pay and the formulas used to compensate writers when their work is streamed, among other proposals. The last WGA strike in 2007 and 2008 lasted 100 days. Writers say changes from the streaming TV boom have made it difficult for many to earn a living in expensive cities such as New York and Los Angeles. Half of TV series writers now work at minimum salary levels, compared with a third in the 2013-14 season, according to WGA statistics.

LOS ANGELES, May 1 (Reuters) - Thousands of film and television writers will go on strike starting Tuesday, throwing Hollywood into turmoil as the entertainment business grapples with seismic changes triggered by the global streaming TV boom. The rise of streaming has led to declining television ad revenue, as traditional TV audiences shrink and advertisers go elsewhere. The last WGA strike, in 2007 and 2008, cost the California economy an estimated $2.1 billion as productions shut down and out-of-work writers, actors and producers cut back spending. Writers say they have suffered financially during the streaming TV boom, in part due to shorter seasons and smaller residual payments. Half of TV series writers now work at minimum salary levels, compared with one-third in the 2013-14 season, according to Guild statistics.

"The companies' behavior has created a gig economy inside a union workforce," said the WGA, which represents roughly 11,500 writers. The rise of streaming has led to declining television ad revenue, as traditional TV audiences shrink and advertisers go elsewhere. The last WGA strike in 2007 and 2008 lasted 100 days. Writers say they have suffered in the streaming TV boom with shorter seasons and smaller residual payments. Reporting by Lisa Richwine and Dawn Chmielewski in Los Angeles; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Alyssa PointerLOS ANGELES, May 1 (Reuters) - Negotiators for Hollywood writers and film and television studios engaged in 11th-hour contract talks on Monday to try and avert a strike that would disrupt TV production across an industry grappling with seismic changes. The Writers Guild of America could call a work stoppage as early as Tuesday if it cannot reach a deal with companies such as Walt Disney Co (DIS.N) and Netflix Inc (NFLX.O). Writers say they have suffered financially during the streaming TV boom, in part due to shorter seasons and smaller residual payments. Half of TV series writers now work at minimum salary levels, compared with one-third in the 2013-14 season, according to Guild statistics. The WGA wants safeguards to prevent studios from using AI to generate new scripts from writers' previous work.

☆ Measurement Messiness Complicates TV’s Annual Sales Season
▼ + stars: | 2023-05-01 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: 1 min

ABC late-night host Jimmy Kimmel hosted Disney’s annual presentation to ad buyers last May. Photo: Disney General EntertainmentMedia companies are preparing to spotlight their buzziest television shows at the TV industry’s annual advance-sales presentations to advertisers, but marketers may be more preoccupied with measuring how many people watch and how to translate that into deals. Veteran players like Comcast Corp.’s NBCUniversal and newer platforms such as Netflix Inc. will try to win over ad buyers during star-studded “upfront” pitches in mid-May at New York City venues including Radio City Music Hall and the Paris Theater. Before that, tech players including Amazon.com Inc., Snap Inc. and Roku Inc. will kick off the selling season with their so-called NewFronts events this week.

LOS ANGELES, May 1 (Reuters) - Negotiators for Hollywood writers and film and television studios engaged in 11th-hour contract talks on Monday to try and avert a strike that would disrupt TV production across an industry grappling with seismic changes. Writers say they have suffered financially during the streaming TV boom, in part due to shorter seasons and smaller residual payments. Half of TV series writers now work at minimum salary levels, compared with one-third in the 2013-14 season, according to Guild statistics. The WGA wants safeguards to prevent studios from using AI to generate new scripts from writers' previous work. The last WGA strike in 2007 and 2008 lasted 100 days.

☆ Big Tech’s Rebound Plays to Individual Investors’ Growth-Stock Bets
▼ + stars: | 2023-04-30 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

Shares of large U.S. technology companies are powering the broader market higher again, vindicating many individual investors who bet big on growth stocks. Together, Advanced Micro Devices Inc., Google parent Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc., Microsoft Corp., Netflix Inc., Nvidia Corp. and Tesla Inc. comprise roughly a quarter of the S&P 500’s market cap, according to FactSet. That means they have an outsize influence on the direction of the major stock index.

☆ Netflix Study Shows Streamer Making Progress in Diversifying Casts
▼ + stars: | 2023-04-27 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Arsema Thomas in ‘Queen Charlotte: A Bridgerton Story.’ Photo: Nick Wall/Netflix/Everett CollectionNetflix Inc. has made progress in casting more women and Black actors in major roles in recent years, but diversity is still lacking behind the camera in the making of many of its films and TV shows, according to a new report from the company and the USC Annenberg Inclusion Initiative. In the aftermath of the 2020 police killing of George Floyd , Netflix and other large companies pledged to invest more in inclusion efforts and expand opportunities for people of color and other underrepresented groups. The report found that Netflix has made strides in some areas, like increasing the representation of girls and women on screen and increasing the percentage of its films and series with a Black lead or co-lead.

The study released on Thursday showed opportunities for women in lead roles, directorial roles and key creative roles have improved. However it also found that Netflix still lacks significant representation of characters with disabilities, gender-balanced storytelling in series, roles for girls and women of color and opportunities for women writers. Despite 27% of the U.S. population identifying as disabled, only 1.1% of all characters in Netflix films and series have a disability, the study released on Thursday found. Only 1.9% of writers for Netflix films have been Latino, the study said. Diversity in casting has improved markedly for Asians, with 41.5% of Netflix series having an Asian lead or co-lead in 2021, compared to only making up 4% of leads and co-leads in both films and series in 2018.

☆ Walt Disney Co to begin second wave of layoffs, cutting several thousand jobs - sources
▼ + stars: | 2023-04-24 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

April 24 (Reuters) - Walt Disney Co (DIS.N) will begin a second wave of layoffs on Monday involving thousands of jobs, as part of efforts to eliminate 7,000 positions and save $5.5 billion in costs, according to sources familiar with the matter. The company will cut "several thousand" jobs through Thursday, with the latest round of reductions bringing the total number of jobs culled to 4,000, Disney officials say. The cuts will occur across the company's business segments, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products, according to the sources, but are not expected to affect hourly frontline workers employed at the parks and resorts. Disney announced its layoff plan in February, together with a reorganization that returned decision-making to its creative executives. On March 27, Disney began notifying employees affected by the workforce reductions, and said a second, larger round would follow in April.

Thomas Johnson ’s daughter texted him Tuesday afternoon with difficult news: Netflix Inc. planned to get rid of its DVD-by-mail business later this year. “I went, ‘Noooo,’” said Mr. Johnson, a 66-year-old retiree in St. Charles, Mo., who has received Netflix’s red-and-white DVD envelopes in his mailbox for more than a decade.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The Dow Jones Industrial Average (.DJI) fell 79.62 points, or 0.23%, to 33,897.01; the S&P 500 (.SPX) lost 0.35 points, or 0.01%, at 4,154.52; and the Nasdaq Composite (.IXIC) added 3.81 points, or 0.03%, at 12,157.23. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.8%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. The S&P 500 posted 16 new 52-week highs and one new lows; the Nasdaq Composite recorded 59 new highs and 123 new lows.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.7%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. Shares of Western Alliance Bancorp (WAL.N) surged 23% after the company posted stronger-than-expected earnings, helping lift the SPDR S&P Regional Banking ETF (KRE.P) 4%. The S&P 500 posted 15 new 52-week highs and one new low; the Nasdaq Composite recorded 48 new highs and 111 new lows.

The two-year Treasury yield , most reflective of short-term rate expectations, hit a one-month high and the 10-year yield hit a four-week high as traders scaled back expectations of rate cuts later this year. Earnings from regional banks were mixed, with Citizens Financial Group Inc (CFG.N) falling 3.4% after its first-quarter results missed estimates. Western Alliance Bancorp (WAL.N) rallied 17.3% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Declining issues outnumbered advancers by a 3.70-to-1 ratio on the NYSE and a 2.40-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 17 new highs and 57 new lows.

Netflix Inc (NFLX.O) fell 2.5% after the video-streaming pioneer beat analysts' earnings estimates for the first quarter but offered a downbeat forecast. The two-year Treasury yield , most reflective of short-term rate expectations, hit a one-month high of 4.29% and the 10-year yield hit a four-week high as traders scaled back expectations of rate cuts later this year. Chicago Fed President Austan Goolsbee and New York President John Williams are set to speak later in the day. Earnings from regional banks were mixed, with Citizens Financial Group Inc (CFG.N) falling 2.4% after its first-quarter results missed estimates. Western Alliance Bancorp (WAL.N) rallied 20.4% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis.

☆ Futures retreat as Treasury yields rise, Tesla slides
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +3 min

Netflix Inc (NFLX.O) slipped 1.6% after the video-streaming pioneer beat Wall Street earnings estimates for the first quarter but offered a downbeat forecast. ET (1800 GMT), and investors will scrutinize it for impact on the recent banking crisis on economic activity. ET, Dow e-minis were down 165 points, or 0.48%, S&P 500 e-minis were down 25.5 points, or 0.61%, and Nasdaq 100 e-minis were down 120.75 points, or 0.92%. Western Alliance Bancorp (WAL.N) rallied 15.5% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Shares of banks First Republic Bank (FRC.N), Zions Bancorporation (ZION.O) and Pacwest Bancorp (PACW.O) rose between 1.1% and 4.1% in premarket trade.

April 19 (Reuters) - Netflix Inc's (NFLX.O) shares fell nearly 3% on Wednesday after the streaming pioneer forecast current-quarter revenue and profit below Wall Street estimates, hit by a delay in the wider roll-out of its solution to password sharing. The company will now launch paid sharing widely, including in the U.S., between April and June. It reported a rise in subscriber growth in the first quarter in Canada - one of the markets where it has cracked down on password sharing. The move is expected to result in some knee-jerk churn and near-term earnings risks but should ultimately pay off, analysts said. "The next few months will likely be noisy as paid sharing headline risk grows louder, but we'd be buyers of related pullbacks," J.P.Morgan analyst Doug Anmuth said.

☆ Netflix Winds Down DVD-Rental Business
▼ + stars: | 2023-04-18 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Netflix is ending 25 years of mailing shows and movies to subscribers. Netflix Inc. will ship its last red DVD envelopes in September, the company said, ending 25 years of mailing shows and movies to subscribers. The streaming service said in a Tuesday blog post that the mailed DVDs changed how people watch content at home, giving them choice and control over what they watched. Mailed DVDs “paved the way for the shift to streaming,” Netflix’s co-chief executive, Ted Sarandos , said in the blog.

☆ No more red envelopes: Netflix to end DVD-by-mail business
▼ + stars: | 2023-04-18 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Netflix Inc (NFLX.O) is winding down its DVD-by-mail business, the company said in a blog post on Tuesday, ending the service it started around 25 years ago. The company said its DVD rental business had been shrinking and it will not be able to continue to offer quality service. "Those iconic red envelopes changed the way people watched shows and movies at home - and they paved the way for the shift to streaming," Netflix Co-CEO Ted Sarandos said in a blog post announcing the DVD service had entered its "final season." "Betting on DVDs was a risk," Randolph wrote in his book, "That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea." When Netflix attempted in 2011 to split its DVD rental business from online streaming into a separate service called Qwikster, it provoked howls of protest from consumers.

Revenue and earnings for the first quarter came in roughly in line with the average analyst estimates from Refinitiv. Shares of Netflix dropped as much as 11% in after-hours trade following the report but recovered to gain 1.4%. From January through March, Netflix added 1.75 million streaming subscribers, missing analyst estimates of 2.06 million additions. The clampdown on password sharing will begin in the United States during the current quarter, Netflix said. UBS media analyst John Hodulik wrote that the password- sharing crackdown could well fuel Netflix's nascent advertising business, as it drives these "sharers" to the lower-priced version of the service.

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