Reed Hastings

Netflix shares set for worst quarter in seven years

Netflix’s shares took another tumble on Tuesday, setting the company on course for its deepest quarterly decline since 2012.  The streamer’s stock price dropped nearly 4% after two analysts further highlighted the threat of the upcoming Disney+ to Netflix’s market share.  Pivotal Research drastically cut its price target for Netflix’s stock from US$515 to US$350, […]

Netflix CEO admission causes stock to plummet

Shares in Netflix took a nosedive following CEO Reed Hastings’s admission that Disney+ and Apple TV+ will provide the company with additional competition. The statement, made while speaking at the Royal Television Society conference in Cambridge, is not surprising to anyone following the industry, but it was evidently enough to spook shareholders as the price […]

Netflix’s Hastings says no to joining Apple service

Netflix CEO Reed Hastings has confirmed that Netflix will not be part of the new Apple streaming offering, details of which are expected to be unveiled next week. Speaking at a press event, Hastings said that Netflix’s goal was to have people watch its content on its own service, and that the streaming giant would […]

Netflix set to ramp up European production

Netflix is set to increase the number of European titles it produces by a third in 2019, according to the Financial Times. Erik Barmack, Netflix’s VP of international originals, revealed to the publisher that the streamer will take on 221 projects in the new year, including 153 originals. Netflix is already on track to deliver 141 […]

Netflix’s Hastings expects US$15bn in subscriber fees this year

Netflix CEO Reed Hastings has said that Netflix is likely to earn around US$15 billion (€12 billion) in subscription fees this year by holding to its strategy of delivering original content. The streaming giant told Nikkei Asian Review reporters, who first reported the story, that the company’s guiding principle is turning subscribers “hard-earned money” into […]

Netflix targets India for next wave of growth

India will be a major driver for Netflix’s future growth with the company already benefitting from low internet costs and the expansion of 4G in the country, according to CEO Reed Hastings. Speaking at the Economic Times Global Business Summit in New Delhi, Hastings reportedly told attendees that while Netflix’s global subscriber base currently stands […]

Netflix discusses ‘YouTube envy’ and faith programming

Netflix bosses have told investors they have ‘YouTube envy’ and are looking to global shows to drive viewing numbers. They went on to say they will do more faith-based programming and brushed aside the rivalry with Amazon, instead insisting their real competitor was sleep. Reed Hastings, CEO of the US-listed streaming service, did an analyst […]

Netflix CEO: mobile operators will change data plans to boost video

Mobile operators are likely to experiment with new ways of selling mobile data that could help Netflix extend its reach – if it can provide high-quality streamed content at ultra-low bit-rates – according to CEO Reed Hastings. In an on-stage interview at Mobile World Congress in Barcelona yesterday, Hastings said that mobile network operators would […]

Netflix plans more market localisation

Netflix is setting its sights on more market localisation following the launch of tailored versions of the service in Poland and Turkey last September. Speaking on the company’s fourth quarter earnings call, Netflix CEO Reed Hastings said that the rollouts would be part of a “steady process” that should help Netflix establish a substantial presence […]

Netflix plans to raise US$1bn for content acquisitions

Netflix is looking to raise US$1 billion in order to fund further content acquisitions, investments and strategic transactions. Intriguingly, the announcement of a US$1 billion debt offering in senior notes was an adjustment on an plan to raise US$800 million revealed just hours before. Los Gatos-based SVOD giant Netflix said the funds would be used […]

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