The video streaming service led by CEO Reed Hastings launched in France and Germany this week, part of its previously announced plan to focus on international expansion to grow subscribers over the next year. Netflix, which has about 48 million global subscribers, roughly 12 million of them in international markets, plans to launch in four more European countries in the next year.
As many as 10% of HBO’s 30 million subscribers are “non-revenue generating.” A new report from Barclays Capital says converting half of those subscribers to paying ones would generate between $72 million and $144 million in cash.
The streaming video service’s CEO, Reed Hastings, made the comments in his first-quarter letter to shareholders. Netflix also said it added 4 million global subscribers for a total of 48.35 million.
Comcast has been through this type of regulatory dance before, and has always won.
It depends on who you ask.
Reed Hastings, when asked for his thoughts on HBO’s view that it doesn’t mind users sharing HBO Go passwords, joked that his rival Richard Plepler’s password was “Netflix Bitch.”
The company now has 33.4 million U.S. streaming subscribers and 44 million total members worldwide. Netflix was, basically, the corporate equivalent of Peyton Manning in 2013.
The company needs to spend money on content to continue growing its subscriber base. But the cost of content is hurting its profit growth.
Netflix, led by CEO Reed Hastings, now has more U.S. subscribers than HBO and ranks as the most-watched cable network by certain metrics. Small wonder its stock is up about 300% this year and is one of the best performing stocks in the S&P 500.
Time Warner Cable subscribers have been unable to watch CBS for 17 days due to a contract dispute. But, if historical trends are any guide, the beginning of fall — not the start of the football season — could provide the impetus to end the standoff.
Far from innovative, it was just as dull as any other earnings call, and more confusing to follow.
In a first, the online video service received Emmy nominations for House of Cards and Arrested Development. While recognition is nice, what Netflix really wants from the awards ceremony is more subscribers.