Connect with us


Pre-market stocks: why Netflix doesn’t hit the panic button




This is not good news for a company that has experienced tremendous growth in the past, inspiring rivals such as Disney (SAY), Apple (AAPL), Comcast (CMCSA) and CNN’s parent company, WarnerMedia, to launch their own streaming services.

But Netflix isn’t panicking. The company added 10 million new global customers in the same quarter last year, when the pandemic was raging and consumers in many countries were limited to home entertainment.

And the streaming giant made up for weaker 2021 numbers in its home market with growth in Asia and Latin America, surpassing its global forecast of 1 million new paid subscriptions by 500,000 between April and June.

But it also showed that much better days are ahead. In a letter to shareholders, Netflix argued that it does not need to grow through acquisitions to fend off rivals, and highlighted its enormous potential for global growth.

“We are primarily competing with ourselves to improve our service as quickly as possible. If we can do that, we are confident that we can maintain our strong position and continue to grow well,” Netflix said.

Netflix fails to increase subscriber count, confirms plans to jump into gaming

Acquisitions? No thanks: Netflix made it clear in its letter to shareholders that it does not plan to join the media industry’s trend of using mergers and acquisitions to grow bigger and add more successful content.

Amazon (AMZN), for example, spent nearly $ 9 billion in May to buy MGM, the Hollywood studio synonymous with Leo the Roaring Lion. WarnerMedia has meanwhile joined forces with Discovery (DISK).
Netflix (NFLX) says he doesn’t need to play this game.

“The industry has consolidated considerably over the years, and we don’t think this consolidation has affected our growth much, if at all,” the company said in its letter to shareholders.

“Although we continually assess opportunities, we do not see any asset as ‘must have’ and have yet to find any on a large scale convincing enough to act,” he added.

Where is the growth? Netflix said the second quarter has traditionally been a tough time to add subscribers in the United States and Canada, a trend even more pronounced by the easing of pandemic restrictions in many places.

But it is now a global business. Netflix added more than one million new subscribers in Asia-Pacific between April and June, and another 760,000 in Latin America. It now has 209 million subscribers worldwide.

The global nature of audience and content offers benefits. The second part of the French-language heist thriller “Lupine” was a huge international success, for example, with 54 million households connected in its first four weeks.

Netflix said there is still room to grow.

Citing figures from data provider Nielsen, the company said streaming only accounts for 27% of U.S. television screen time. Netflix represents 7%.

“Considering that we are less mature in other countries and that this excludes mobile screens (where we think our share of engagement is even lower), we are convinced that we have a long avenue for growth”, a- he declared.

Bottom line: Netflix’s profit in the second quarter of this year was $ 1.3 billion, up from $ 720 million in the previous year’s quarter. Its turnover jumped 19% to $ 7.3 billion. Shares rose slightly in the pre-market.

CEO says economic losses from Olympics will be “huge”

One of Japan’s most prominent business leaders says the Olympics are losing their commercial value.

Suntory CEO Takeshi Niinami told CNN Business Monday that his company decided not to sponsor the next Tokyo Games, saying it was “too expensive”.

“We thought we were an Olympic partner … but the economy was not there,” said the boss of the Japanese beverage giant, owner of Orangina and bourbon Jim Beam.

Instead of signing as an official sponsor, Suntory had charted another path to increase its visibility during the Games, which kick off on Friday: The company planned to use restaurants and bars around sports venues to promote its drinks, and d ” open several establishments to serve. his products.

“I thought this opportunity would really be a showcase for us,” Niinami said in an interview. “I expected a lot of spectators from overseas to come and see us.”

Organizers’ decisions to ban foreign visitors and then spectators from Tokyo Games venues for public health reasons canceled those plans.

“The economic losses will be huge,” Niinami said, estimating that Japanese companies could have benefited from an increase of around 10% in their sales if fans had been allowed.

The absence of domestic spectators could cost the Japanese economy 146.8 billion yen ($ 1.3 billion), according to an estimate by Takahide Kiuchi, an economist at the Nomura Research Institute.

“It’s time [when] we have to think about: what is the value of the Olympics? “said Niinami.” I think the Olympics lost [their] value.”

China extends technological crackdown

China’s internet watchdog said on Wednesday it would fine some of the country’s biggest tech companies for disseminating obscene content related to children.

The Cyberspace Administration of China (CAC) said in a statement posted on social media that it had summoned executives from technology platforms, including Alibaba’s Taobao shopping service, messaging app Tencent QQ and the giant from social media Sina Weibo.

The regulator said the platforms were ordered to “comprehensively rectify and clean up illegal information and accounts within a specified time frame.”

This is the last movement in a Beijing drama campaign to expand its control over the technology sector. The CAC is the same agency that banned Didi, China’s largest ridesharing service, from app stores days after the company went public for “gross violation of laws” over data collection.


Gains of Daimler (I go), Coke (KO), Harley davidson (PORK), Johnson & johnson (JNJ) and Verizon (VZ) came out before the opening bell.

Also today :

  • Gains of Whirlpool (RTH) and CSX (CSX) after closing.
  • US Energy Information Administration crude inventory data.
Coming tomorrow: Financial results of Unilever (the), American Airlines (AAL), AT&T (T), Domino’s Pizza (DMPZF) and Intelligence (INTC). In addition, the latest political decision of the European Central Bank.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]