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Netflix exec says 85 p.c of recent spending will go in direction of unique content material

In case you had any doubts that unique content material is an enormous precedence at Netflix, Chief Content material Officer Ted Sarandos estima...

 

In case you had any doubts that unique content material is an enormous precedence at Netflix, Chief Content material Officer Ted Sarandos estimated that 85 p.c of the corporate’s whole spending goes to new reveals and films.

That’s in keeping with Selection, which reported on Sarandos’ remarks immediately at MoffettNathanson’s Media & Communications Summit 2018 in New York. He additionally mentioned Netflix has a 470 originals scheduled to premiere between now and the top of the 12 months, bringing the entire as much as round 1,000.

It’s most likely not stunning that the service is prioritizing originals. In spite of everything, Netflix appears to be highlighting a brand new unique each time I open it up, and opponents like Apple, Amazon and Hulu are ramping up their very own spending.

However the depth of Netflix’s library, which is achieved by licensing content material from others, has at all times appeared like a power — the truth is, a current research discovered that licensed content material generates 80 p.c of Netflix viewing in the US.

A part of the context right here is that most of the studios which have offered their content material to Netflix previously at the moment are both saving it for their very own streaming providers or seeking to elevate the costs.

And whereas motion pictures account for one-third of viewing on Netflix, Sarandos pointed to new, massive price range titles as one space the place it not is sensible for the streaming service to spend a ton of cash — as a result of when you actually wish to catch the newest blockbuster, you most likely already noticed it in theaters.

“We mentioned, possibly we are able to put the billion we’d put in an output deal into unique movies,” he mentioned.

Sarandos additionally sees a possibility to develop extra unscripted content material like Queer Eye, and to signal massive offers with high-profile showrunners like Shonda Rhimes and Ryan Murphy.

Netflix had beforehand projected that it could spend $ 7 billion to $ eight billion on content material this 12 months. And simply immediately, Netflix introduced that it’s renewing Misplaced in House for a second season (we have been followers of season one) and picked up 10 After Midnight, a horror anthology sequence from Form of Water director Guillermo del Toro.

GoPro revenue plunges 47 percent, but beats estimates

 

GoPro revenue plunges 47 percent, but beats estimates

The company’s shares by 2.4 percent in volatile trading after the bell on Wednesday.

GoPro’s sales fell to $ 220.8 million in the second quarter ended June 30 from $ 419.9 million a year earlier.

Analysts on average expected revenue of $ 194.3 million, according to Thomson Reuters I / B / E / S

This is some 20 percent lower than the estimate on May 5, when GoPro announced first quarter results and delayed the introduction of its Karma pounding until the holiday season.

The company’s camera is worn by surfers, jumpers and other action-addicts, said controlled units in the second quarter rose 8 percent to 759 000 compared to the first quarter.

The average selling price is 11 percent sequentially and 14 percent on a year-over-year basis.

GoPro however maintained its full-year earnings guidance of $ 1350000000 to 1500000000. $ Analysts on average expected revenue of $ 1340000000.

GoPro has a loss of $ 91.77 million, or 66 cents per share, for the second quarter compared with a profit of $ 35030000, or 24 cents per share, a year earlier.

excluding items, GoPro lost 52 cents per share in the last quarter, less than analysts estimates of 58 cents.

(Reporting by Ismail Shakil and Anya George Tharakan in Bangalore; Editing by Savio D’Souza)

First Data shares could rise more than 70 percent: Barron’s

 

First Data shares could rise more than 70 percent: Barron's

The payments processor, who have seen shares fall 20 percent since the IPO in 2015, making progress strengthening the balance sheet and the recovery of its business, Barron’s said.

Under Chief Executive Officer Frank Bisignano, First Data has improved its technology, pay off debts and creditors to postpone to 2021 $ 5 billion in debt payments that were payable in 2018. Improved technology and his sales technique aid First Data needs to generate more revenue, Barron’s said.

First Dates are betting on a new platform called Clover helping to manage small businesses payments easier. The product is intended to increase customer loyalty.

First Data’s shares at about $ 11 trading eight times estimated 2016 earnings that are less than half the level of a number of competitors, added Barron’s.

(Reporting by Olivia Oran; Editing by Chris Reese)

Steve Ballmer takes 4 percent stake in Twitter, owns more than CEO

 

Steve Ballmer takes 4 percent stake in Twitter, owns more than CEO

The participation of Ballmer worth $ 800 million based on $ 21 billion market value of Twitter. Only co-founder Evan Williams and Saudi billionaire Prince Alwaleed bin Talal have more interest among individual investors.

Twitter shares rose 5.6 percent to $ 31.34 on Friday, hours after Ballmer tweeted from an unverified account that he developed his game over the last month.

His new Tweet hailed “moments” feature of Twitter, which is the best tweets commissioner of the day, and the appointment of Dorsey as permanent CEO last week.

“Bonn Twitter employment, innovation twitter moments, Jack Ceo, leaner, more focused” the tweet said. “I’m glad I bought 4% in recent months”.

Twitter declined to comment. Ballmer himself not return requests for comment.

Steve Ballmer, in February 2014 the Los Angeles Clippers bought after his retirement as CEO of Microsoft, has a personal fortune of about $ 21.5 billion, him 35th richest person do in the world, according to Forbes magazine .

But his support as an investor does not guarantee success on Twitter. Ballmer laughed famous iPhone first Apple Inc. and Microsoft shares fell over the 14 years of his leadership.

Ballmer now owns more than Twitter co-founder and CEO Dorsey, who owns 3.2 percent, according to Thomson Reuters data. Williams is the largest individual shareholder with about 7.5 percent, followed by Alwaleed by about 5.2 percent.

Similar to alwaleedbinT words tweeter of Ballmer said. Alwaleed and his investment company, Kingdom Holding Co <4280.SE>, said earlier this month that they had increased their stake in Twitter for more than 5 percent.

Ballmer investment is a sign that Twitter’s efforts to revive growth is appreciated in Dorsey, Monness, Crespi, Hardt & Co. Inc. analyst James Cakmak says

“I think it’s just another proof point that the step they are taking the company to growth is in resonance, & redirect” – Cakmak said.

Twitter has some new announcements Dorsey, who also served as CEO in 2008, returned on a permanent basis last week. Tuesday, Twitter said it will lay off about 8 percent of the workforce, and on Wednesday he hired Google Inc Executive Omid Kordestani as executive chairman.

FBN Securities analyst Shebly Seyrafi said the participation of Steve Ballmer may be a sign of widespread confidence in Dorsey and his strategy

“It depends on the time of investment. I’m not sure how many of its 4 percent before Dorsey was acquired was named interim CEO or Permanent”.

(Reporting by Yasmeen Abutaleb in San Francisco and Anya George Tharakan, Krishna Kumar and Devika Lehar Moon in Bengaluru, edited by Ted Kerr, Savio D’Souza and Bill Rigby)