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☆ U.S. tech giants face pressure from Europe's telcos to pay for building the internet
  + stars: | 2022-10-28 | by ( Ryan Browne | ) www.cnbc.com   time to read: +8 min
Michael Bocchieri | Getty ImagesIn Europe, the battle between U.S. Big Tech companies and telecommunications firms has reached fever pitch. In May 2022, EU competition chief Margrethe Vestager said she would look into requiring Big Tech firms to pay for network costs. In South Korea, companies have similarly lobbied politicians to force "over-the-top" players like YouTube and Netflix to pay for network access. Tech companies, naturally, don't think they should pay for the privilege of sending their traffic to consumers. There's also the matter of why internet users pay their providers in the first place.
☆ Investors punish Zuckerberg as costly metaverse pitch falls flat
  + stars: | 2022-10-27 | by ( Chavi Mehta Katie Paul | Chavi Mehta | Katie Paul | ) www.reuters.com   time to read: +3 min
One Meta shareholder had recently voiced concerns calling the company's investments "super-sized and terrifying". Analysts on Wednesday called them "confusing and confounding" and Meta's inability to cut costs "extremely disturbing". In the July-September quarter, losses at Reality Labs ballooned to a whopping $3.67 billion from $2.63 billion a year earlier. In an open letter to Zuckerberg on Monday, Meta shareholder Altimeter Capital Management called on Meta to streamline by cutting jobs and capital expenditure. The fund suggested Meta cap annual investments in the metaverse to $5 billion instead of the current $10 billion.
☆ Amazon predicts sales growth slowdown for holidays, crushing shares
  + stars: | 2022-10-27 | by ( Jeffrey Dastin Tiyashi Datta | Jeffrey Dastin | Tiyashi Datta | ) www.reuters.com   time to read: +5 min
Oct 27 (Reuters) - Amazon.com Inc (AMZN.O) on Thursday forecast a slowdown in sales growth for the holiday season, disappointing Wall Street and warning that inflation-wary consumers and businesses had less money to spend. In a call with reporters, Amazon Chief Financial Officer Brian Olsavsky said the company was bracing for slower economic growth. Amazon forecast net sales of between $140 billion and $148 billion, or growth as little as 2% from a year earlier. The Amazon logo is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File PhotoPrior holiday quarter sales growth was 9% in 2021 and 38% in 2020. Amazon's cloud sales growth has ticked down consistently in the past year.
☆ Netflix targets global TV ad market as next business to disrupt
  + stars: | 2022-10-19 | by ( Dawn Chmielewski Lisa Richwine | Dawn Chmielewski | Lisa Richwine | ) www.reuters.com   time to read: +4 min
Now, Netflix is gunning for the last reel of the pay TV business: its estimated $153 billion pool of global advertising revenue. The company and some analysts see its new, cheaper ad-supported service, detailed in a rosy quarterly report on Tuesday, as a way to lift revenue as customers trim spending amid economic gloom. As TV's audience shrinks, it becomes less attractive for advertisers - and a plum target for Netflix to disrupt. Netflix plans to launch an ad-supported version of its service in the United States and 11 other countries in November. Some Wall Street analysts said the ad-supported version of the Netflix service might entice some price-sensitive existing subscribers to switch to the less-expensive option.
☆ Netflix reverses subscriber slump, shares surge 14%
  + stars: | 2022-10-18 | by ( Lisa Richwine Dawn Chmielewski | Lisa Richwine | Dawn Chmielewski | ) www.reuters.com   time to read: +4 min
From July through September, Netflix attracted 2.4 million new subscribers worldwide, more than double the 1.07 million consensus forecast of analysts polled by Refinitiv. Netflix now has a total of 223.1 million subscribers around the world. For the third quarter, Netflix topped Wall Street projections with revenue of $7.9 billion, up 6% from a year earlier. The company's forecast of 4.5 million customer pickups by the end of 2022 came in slightly ahead of Wall Street estimates, which had averaged 4.2 million. For the fourth quarter, Netflix is projecting revenue of $7.8 billion -- a sequential decline it blamed on the strong value of the U.S. dollar.
☆ Netflix's forecast in focus as streaming pioneer set to launch ad-supported tier
  + stars: | 2022-10-17 | by ( Eva Mathews Savyata Mishra | Eva Mathews | Savyata Mishra | ) www.reuters.com   time to read: +2 min
Oct 17 (Reuters) - Netflix Inc's (<NFLX.O>) subscriber growth forecast will be in focus when it reports third-quarter results on Tuesday, with the streaming pioneer set to launch an ad-supported plan to better compete with rivals such as Disney+ and HBO Max. Last week, Netflix said it would launch the plan in November at $6.99 a month, much before its previous estimate of early 2023 and Disney+'s December rollout. read more read moreAnalysts have said the long-resisted move will boost growth at a time when the market for connected TV advertising is booming. Analysts, polled by Refinitiv, expect Netflix to add a little more than 1 million subscribers in the third quarter. Netflix could generate net U.S/Canada ad revenue of $1.7 billion and international net ad revenue of $1 billion in 2025, according to brokerage MoffettNathanson.
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