9054 stories
·
69 followers

Investors are worried that Netflix is getting as big as it can get

1 Share

Netflix CEO Reed Hastings. (credit: JD Lasica)

Netflix missed its subscriber growth targets by about a million subscribers in the three months ending in June, sparking concern among investors that there might be a saturation limit for the streaming platform. The company's stock price fell 14 percent on the news, the BBC reports, although that came after an impressive run that saw the stock gaining much more value than that over the past year.

Netflix has 130 million subscribers globally. It had projected the addition of 6.2 million subscribers in the quarter, but it managed to get 5.2 million instead.

Some investors have seen Netflix as the future of television—a sure-to-be dominant hub for all our entertainment viewing. But the landscape is increasingly looking more like an unbundled version of the old cable model—dozens of channels from Netflix to CBS to Showtime, each with their own monthly fee. The economics of putting it all in one $8-15/month subscription service were never sustainable.

Netflix is expected to face increasing competition in the next year or two. Newly appointed HBO Chief Executive John Stankey recently told employees that the company needs to move away from its boutique, prestige-programming focus and closer to Netflix's high-content-volume strategy. The world's biggest tech company, Apple, also plans to launch a streaming service that would compete with Netflix. So, too, does one of the world's biggest entertainment media companies, Disney, which currently dominates the landscape in Hollywood with high-value properties like Marvel and Star Wars.

Netflix has generally been an investor darling in the past; there are many who have believed it will be to television what Amazon is for retail. Netflix accounts for 8 percent of TV viewing overall—an impressive number but not the dominance some expected.

Netflix CEO Reed Hastings has signaled to investors that they can expect good news with regard to engagement—frequency and length of viewing sessions. Research from CBH Insights cited by CNBC suggests that Netflix subscribers watch an average of 10 hours per week, compared to just five hours on Amazon and Hulu, whereas the National Bureau of Labor Statistics says traditional TV viewers watch nearly 20 hours per week. Cable is still on top.

Netflix will spend as much as $8 billion producing and acquiring TV shows and movies this year, including Disenchantment from The Simpsons and Futurama creator Matt Groening, new seasons of House of Cards and Making a Murderer, and presumably several series and films yet to be announced.

Read Comments

Read the whole story
fxer
21 hours ago
reply
Bend, Oregon
Share this story
Delete

Phoenician Walls of Erice in Erice, Italy

1 Share

Ancient walls.

Tourists flock to Erice, often via the newly reinstated cable car system from Trapani, to see its magnificent collection of Saracen, Norman, and medieval buildings (and to do a bit of shopping and dining). However, those who rush into the heart of the mountaintop town may miss some of its most important archaeological treasures.

Head to the north of the city, and you’ll find walls that have been standing since 800 BC. The limestone barriers are largely the work of the Phoenicians, who founded the city more than 2,500 years ago.

The Phoenician walls, and the parts later modified or built by the Elymians, once hugged the border of Erice. These cyclopean walls were—and still are—testaments to the small, historic town’s impressive fortifications. Walking along the walls reveals different layers of stone from different parts of the town's past. The larger chunks of rock toward the bottom date to its earliest builders, while the stripes of smaller stones along the top were placed there by Erice's medieval inhabitants.

But as with many of Italy's ancient villages, as the centuries wore on, its borders changed. The walls eventually became obsolete. Some parts are badly damaged (the city was sacked by the Carthaginians during the First Punic War) but others are remarkably intact. More than a dozen towers still cap portions of the wall.

Read the whole story
fxer
21 hours ago
reply
Bend, Oregon
Share this story
Delete

Tucker Carlson: Mexico is interfering in US elections by “packing our electorate”

2 Comments and 4 Shares

TUCKER CARLSON: I don’t think Russia is our close friend or anything like that. I think of course they try to interfere in our affairs. They have for a long time. Many countries do. Some more successfully than Russia, like Mexico, which is routinely interfering in our elections by packing our electorate. So those are all concerns.

These people aren’t even pretending any more.

Today was a dark, dark day in American history.  The president openly admitted that he was OK with a foreign power installing him in office, and nothing is going to be done about it.  This is how democracy dies and authoritarianism triumphs.

FacebookTwitterGoogle+Share

Read the whole story
fxer
1 day ago
reply
just like those damn Irish did 150 years ago. what's your game Ireland?!
Bend, Oregon
wreichard
2 days ago
reply
Nazis.
Earth
Share this story
Delete

Sacha Baron Cohen Is Hit-And-Miss In 'Who Is America?'

1 Share
Sacha Baron Cohen

Sacha Baron Cohen likes to dress up and try to get people to say dumb things, and in one case in his new Showtime series, he finds success. But other times, the show falls flat.

(Image credit: Gavin Bond/Showtime)

Read the whole story
fxer
2 days ago
reply
Bend, Oregon
Share this story
Delete

Cloudflare, Mozilla, Fastly, and Apple Working on Encrypted SNI

1 Share
Comments

Add this Tweet to your website by copying the code below. Learn more

Add this video to your website by copying the code below. Learn more

By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.

Preview


Comments
Read the whole story
fxer
2 days ago
reply
Bend, Oregon
Share this story
Delete

The US Has 4.6 Million Foreign Gold Coins Stashed in a Vault in New York

1 Share

Fort Knox is for American gold. The U.S. Mint facility in West Point, New York, it seems, is for foreign gold.

A new cache of documents have been released via the Freedom of Information Act that detail the U.S. government’s collection of approximately 4,686,358 foreign gold coins, held just a few hours drive from Manhattan along the banks of the Hudson River. British sovereigns, French francs, German marks, and many more coins (some now out-of-circulation) can be found within its vaults. Many of the gold coins were supposed to be melted into gold bars but instead, the government decided to store them in bags.

The memos contain hidden tales about how the Mint came to possess some of these coins. For instance, in 1944, a shipment of gold coins were picked up by a U.S. naval vessel in South Africa, bound for delivery to a Polish bank. Instead, it appears, the government kept the coins and paid the bank 351 gold bars—the coins would eventually be controlled by the Treasury’s “Special Gold Custody Account” and end up in New York. Other coins were purchased from countries such as Argentina and Greece as far back as the 1940s, and in 1982, 4,141 bags of this foreign gold was transferred to what was then called the West Point Bullion Depository.

According to CoinNews.net, the West Point facility was right behind Fort Knox in total gold storage during the 1980s. It’s original purpose, upon opening in 1938, was to store silver, and would go on to produce pennies, bicentennial quarters, and American Eagle Platinum Bullion Coins. In 1988, its status as a “Mint” became official when its named changed from the West Point Bullion Depository to the West Point Mint.



Read the whole story
fxer
2 days ago
reply
Bend, Oregon
Share this story
Delete
Next Page of Stories