19-01-2020, 17:23
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#7195
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 68
Services: Premiere Collection
Posts: 43,621
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Re: Netflix/Streaming Services
From today's Sunday Times (behind paywall).
Quote:
Wall Street watches for Netflix wobble
Wall Street is on tenterhooks ahead of annual results from Netflix, as the film and TV juggernaut grapples with its biggest challenge since it was launched 13 years ago.
The figures, to be released on Tuesday, are the first since Disney and Apple launched competing offerings in November. NBC Universal’s Peacock, which is due to go live across America in July, will be the new home of The Office, one of Netflix’s most popular shows. NBC splashed out an estimated $500m for the exclusive rights.
HBO Max, another new competitor, launches in May and has also nabbed a key Netflix property — Friends.
With 160m subscribers, the California-based giant is by far the world’s top streaming company. RBC Capital Markets has pencilled in $1.5bn (£1.1bn) of profits on $20bn of sales, up from $1.2bn on $15.6bn last year. Netflix this year netted 24 Academy Award nominations — beating all Hollywood studios for the first time.
Yet the awakening of Hollywood, not to mention the billions of dollars being spent on new shows by tech rivals Apple and Amazon, will pile on pressure. According to a survey carried out by RBC, 11% of subscribers to the new Disney + service said they had cancelled their Netflix membership, while 10% of Apple’s viewers said they had abandoned the service.
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