Netflix Subscribers and Revenue Surge Beyond Estimates
Video Credit: Wibbitz Top Stories - Duration: 01:32s - Published
Netflix Subscribers and Revenue Surge Beyond Estimates
Netflix Subscribers and Revenue , Surge Beyond Estimates.
On Jan.
23, Netflix said that it added
13.12 million subscribers in Q4 2023.
It had only anticipated to get
about 9 million, Yahoo Finance reports.
.
The news saw Netflix's stock rise 10%
in premarket trading on Jan.
24.
Company revenue also surpassed Wall Street expectations of $8.71 billion to reach $8.83 billion.
Compared to the same time last year, that's a
12.5% increase in revenue, Yahoo Finance reports.
.
Price hikes, an ad-supported tier and an end to password sharing likely contributed to the growth.
.
Netflix expects to shell out $17 billion on content
in 2025, though it won't be acquiring linear assets.
.
We’re not interested in acquiring linear
assets.
Nor do we believe that further
M&A among traditional entertainment
companies will materially change the
competitive environment... , Netflix, via earnings reports.
... given all the consolidation that has
already happened over the last decade
(Viacom/CBS, AT&T/Time Warner, Disney/Fox,
Time Warner/Discovery, etc.), Netflix, via earnings reports.
Since streaming competition is still fierce, Netflix says, "continuing to improve our entertainment offering is so important, and as many of our competitors cut back on their content spend, we continue to invest in our slate."
‘Happy Gilmore 2’ , Officially Confirmed at Netflix.
Netflix confirmed the sequel
on May 15, 'Variety' reports.
Adam Sandler will reprise one of his most popular roles as Happy Gilmore, a hockey player who becomes a golfer.
Christopher McDonald, who played
Shooter McGavin in the original film,
first sparked sequel rumors in March.
I saw Adam [Sandler] about two
weeks ago, and he says to me,
‘McDonald, you’re gonna love this.’, Christopher McDonald, via 'Variety'.
I said, ‘What?’ He says, ‘How about
that,’ and he shows me the first
draft of ‘Happy Gilmore 2.’ , Christopher McDonald, via 'Variety'.
I thought, ‘Well, that would be
awesome.’ So, it’s in the works.
Fans demand it, dammit!, Christopher McDonald, via 'Variety'.
Drew Barrymore teased the
news on her talk show as well.
This just in, I have breaking news….
I’ll just say this, from my source, that
['Happy Gilmore 2'] is in process, Drew Barrymore, via 'The Drew Barrymore Show'.
Additional details such as storyline or
director have yet to be revealed.
'Happy Gilmore,' released in 1996, made close to $40 million at the global box office
Credit: Wibbitz Top Stories Duration: 01:30Published
After years of prayers, wishes and speculation, it's really happening -- Adam Sandler is slated to star in a sequel to his classic comedy, "Happy Gilmore" ..... TMZ.com
Reba McEntire is set to host the 59th ACM Awards this week on Amazon's Prime Video. The iconic singer spoke to THR all about her big return to Country Music's Party of the Year, new music, her new TV show, 'Reba' hitting Netflix and much more ahead of the ceremony that streams live on Thursday, May 16.
Credit: The Hollywood Reporter Duration: 03:09Published
Comcast to Bundle , Peacock, Netflix and Apple TV+.
On May 13, Comcast chief Brian Roberts announced the company's newest bundle, StreamSaver, NBC News reports. .
Peacock, Netflix and Apple TV+ will be
included in the bundle "at a vastly reduced
price to anything available today," Roberts said. .
This will be a pretty
compelling package, Brian Roberts, Comcast chief, via statement.
As streaming prices continue to climb,
other media companies have also started
to offer bundles, NBC News reports. .
Disney and Warner Bros. Discovery recently announced a bundle consisting of Max, Disney+
and Hulu which will be available this summer.
Disney and Warner Bros. Discovery recently announced a bundle consisting of Max, Disney+
and Hulu which will be available this summer.
Disney and Warner Bros. Discovery recently announced a bundle consisting of Max, Disney+
and Hulu which will be available this summer.
The prices for both companies'
bundles have yet to be revealed.
Comcast's bundle will be made available before Peacock raises its standalone price by another $2 ahead of the 2024 Paris Summer Olympic Games. .
The ad-free service will now cost $13.99 per month. .
The tier with ads will increase to $7.99 each month. .
Meanwhile, Disney, Warner Bros. Discovery and
Fox Corp. have teamed up to create a streaming sports bundle that is scheduled to debut this fall.
but critics allege that the venture
violates antitrust laws, NBC News reports.
Credit: Wibbitz Top Stories Duration: 01:31Published
Reddit Prices Shares , at $34 in IPO.
Reddit will go public on March 21 and has priced
its IPO at $34 a share, Yahoo Finance reports.
That is about a $6.4 billion valuation.
A social media company hasn't gone
public since Pinterest in 2019.
Reddit gained increased recognition
amid the meme stock craze of 2021.
Reddit had 500 million site visitors in 2023.
Its revenue increased 20%
from 2022 to $804 million.
According to an S-1 filing, Reddit said that its "content is particularly important" for the world of artificial intelligence.
We are exploring business
opportunities in licensing data
for purposes including machine
learning, business analysis, display
and training generative AI models, Reddit, via S-1 filing.
1.76 million shares have been set aside for eligible Reddit users and moderators. .
Headline venture partner Kamran Ansar
said the decision lends itself to volatility. .
You may see a big run up in
the stock price and a drop, Headline venture partner Kamran Ansar, via statement.
Because this has such a rabid
community around it, the Reddit
users, you could see Reddit itself
ironically become a meme stock
the way that you saw happen
with like AMC and GameStop, Headline venture partner Kamran Ansar, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
Experts Say Fed's , Rate Hikes Could Impact , Housing Market for Decades.
Yahoo Finance reports that the housing market
has been showing signs of bouncing back as
this year's spring home-buying season begins.
For the second week in a row, mortgage rates
fell, reaching the lowest level in over a month. .
According to Freddie Mac, the average rate
on a 30-year fixed mortgage dropped to
6.74% from 6.88% the week before.
At the same time, supply is also
starting to rebound, with new listings
hitting a 17-month high in February. .
Despite the improvement, experts warn
that the Fed's aggressive rate-hiking campaign could
have long-lasting side effects on the housing market.
Despite the improvement, experts warn
that the Fed's aggressive rate-hiking campaign could
have long-lasting side effects on the housing market.
According to economist Gary Shilling, the Fed's
campaign has created a "perfect storm,"
with higher rates causing would-be
home sellers to put their plans on hold. .
It won't continue
indefinitely, but it certainly
is disruptive right now, Gary Shilling, Economist, via Yahoo Finance.
Redfin CEO Glenn Kelman shared similar views on the future of the housing market, warning it could take decades to move beyond the impact of the Fed's efforts.
Redfin CEO Glenn Kelman shared similar views on the future of the housing market, warning it could take decades to move beyond the impact of the Fed's efforts.
There's going to be low
supply for a long time to
come. What the Fed did…
will have a 30-year tail on it, Glenn Kelman, Redfin CEO, via Yahoo Finance.
Yahoo Finance reports that mortgage rates may be
unlikely to fall much further in the near term, meaning
that a more substantial rebound may still be far off.
Credit: Wibbitz Top Stories Duration: 01:30Published
American actress Rachel Covey was just 8 years old when she conveyed her colorful imagination as Morgan -- Robert's adorable daughter in Disney's live-action.. TMZ.com
'Only Murders' is back and headed to Hollywood! As part of Disney's upfront presentation, Hulu revealed the trailer and premiere date for the upcoming fourth season of 'Only Murders in the Building.' As previously reported, season four of Only Murders starring Selena Gomez, Martin Short and Steve Martin will follow Mabel, Charles and Oliver searching for answers about who killed Jane Lynch's character Sazz Jane Lynch, if they were actually aiming for Charles and why anyone would want to kill either of them.
Credit: The Hollywood Reporter Duration: 01:19Published
'Kingdom of the Planet of the Apes' swings in theaters this weekend. We're breaking down how it's doing at the domestic box office so far. The 20th Century and Disney movie kicked off its run with a promising $6.6 million in previews, including a special fan event mid-week and regular Thursday evening previews. This number suggests the film should be able to achieve, if not exceed, the $50 million to $55 million opening predicted by tracking.
Credit: The Hollywood Reporter Duration: 01:09Published
Disney has finally released the first trailer for 'Mufasa: The Lion King.' The film, directed by Barry Jenkins, serves as both an origin story and follow-up to Jon Favreau's 2019 movie 'The Lion King' which was based on the 1994 Disney animated classic of the same name. The new film will tell the backstory of Simba's father, Mufasa, an orphan who grew up to be a wise, powerful and compassionate ruler.
Credit: The Hollywood Reporter Duration: 01:31Published
AT&T Confirms Data Breach , Affected 73 Million Customers.
73 million current and former
AT&T customers have had their sensitive
data compromised in a hack that some outlets
say dates back to 2021, Gizmodo reports.
The data, which includes social security numbers, email addresses, birthdates, phone numbers and AT&T account information, .
was located two weeks ago in a data
set released on the dark web.
It's not clear if it was AT&T's systems that were breached or if the information was stolen from one of the company's vendors.
Currently, AT&T does not have evidence
of unauthorized access to its systems
resulting in exfiltration of the data set, AT&T, via statement.
The company is communicating
proactively with those impacted and
will be offering credit monitoring at
our expense where applicable, AT&T, via statement.
As a precaution, AT&T has reset the
passcodes of its current customers. .
The company will be reaching out to customers whose information has been compromised. .
AT&T advises those who are worried about their accounts to monitor activity and credit reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
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