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Netflix Appoint content chief Ted Sarandos as co-CEO, Shares Fall 10%

17Jul By PriyankaNo Comments

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Netflix Appoint content chief Ted Sarandos as co-CEO, Shares Fall 10%

San Francisco, 17th Jul 2020: Online streaming platform Netflix promoted its content chief Ted Sarandos as a co-CEO after it forecast that subscriber growth would slow even more than Wall Street expected during the third quarter, sending its shares tumbling 9.5% to $477.15 in after-hours trading. The move to promote content chief as a co-CEO is a clear indication of a successor to co-founder Reed Hastings. Sarandos will continue his role in leading the content operations. Hastings said the two would each work full time as co-CEOs and that he had no plans to leave the company soon. Netflix also gave Chief Product Officer Greg Peters the additional role of a chief operating officer. Netflix forecast it would add 2.5 million new paid streaming customers around the world in this q...

9Apr By AnkitaNo Comments

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Disney+ Hits 50 Million Paid Users

The Walt Disney Company said its television streaming service has already won 50 million paid subscribers just five months after its launch in the US. Disney+ rolled out in India and eight Western European countries in recent weeks. About eight million of its paid subscriptions are in India, where Disney+ is offered in conjunction with existing Hotstar service. "We’re truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year," direct-to-consumer and international chairman Kevin Mayer said in a release. The Walt Disney Company last month rolled out Disney+ streaming service in seven European countries, but had reduced bandwidth...

Netflix forecast disappoints ahead of Disney+ launch

17Apr By reutersNo Comments

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Netflix forecast disappoints ahead of Disney+ launch

Netflix gave a weak forecast that unnerved investors just as Walt Disney and others prepare to escalate Hollywood’s streaming video wars, although the company’s quarterly results beat Wall Street targets. Shares of Netflix traded down about 1 percent at $355.02 in after-the-bell trading. Netflix predicted it would pick up 5 million new streaming subscribers from April through June. That was below the 5.48 million consensus of industry analysts surveyed by FactSet. “What’s making investors nervous is that there are signs of a slowdown in the second-quarter subscriber growth,” said Haris Anwar, senior analyst at Investing.com. “This is made all the more prominent by the looming threat of competition from Disney and Apple.” Netflix added a record number of paid streaming customer...

Star India Will Promote Indian Content Internationally Using Hotstar

22Jan By AdityaNo Comments

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Star India Will Promote Indian Content Internationally Using Hotstar

Media major Star India is quite upbeat over the viewership numbers of Hotstar and gearing up to engage more global audience by placing high quality Indian content on its video streaming platform, said a top official. Speaking to Pixr8, Star India Managing Director Sanjay Gupta said, "Hotstar is witnessing over 100 million new users coming to the platform every month across the globe." As part of its strategy to address all age groups, Star is ensuring a strong presence across screens, be it television, iPads or mobile handsets couped with strong content, he explained. To maintain its leadership position in the digital space, the company is investing heavily on content and has acquired broadcasting rights of the major sporting events such as IPL, Kabbadi apart from adding India-spe...

Spotify Raises $1 Billion in Funding: Report

31Mar By PriyankaNo Comments

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Spotify Raises $1 Billion in Funding: Report

AFP- Music streaming giant Spotify has raised $1 billion (roughly Rs. 6,632 crores) in convertible debt from investors, with strict conditions, the Wall Street Journal reported late Tuesday. Private-equity firm TPG, hedge fund Dragoneer Investment Group and clients of Goldman Sachs are taking part in the deal, the paper said, citing people familiar with the transaction. Convertible debt are bonds that can be exchanged for stock. If Spotify holds a public offering in the next year, TPG and Dragoneer will be able to convert the debt into equity at a 20 percent discount to the listing price, the Journal reported. Spotify will pay annual interest starting at five percent, increasing by one percentage point every six months until the company goes public, or it hits 10 percent, it ad...