The main event in streaming video looks to be HBO vs. Netflix. The veteran pay cable service confirmed plans to offer a standalone HBO streaming service in 2015. Time Warner's HBO currently offers an online-video service, but viewers must be subscribers via cable or satellite. "It is time to remove all barriers to those who want HBO," said … [Read more...]
Netflix’s strong hand
Citing "a general recovery of the brand," Netflix told Wall Street what it wanted to hear with its first-quarter earnings, and then some. The streaming video/DVD rental company added more than 3 million sign-ups in the quarter, for a total of 36 million subscribers. Its stock soared 24 percent after earnings were announced April 22. In the … [Read more...]
Netflix: 1 bil hours served
Netflix subscribers watched more than 1 billion hours of the service's streaming video in June, a record for the company. "When 'House of Cards' and 'Arrested Development' debut, we'll blow these records away," Netflix CEO Reed Hastings said in a congratulatory Facebook message to content czar Ted Sarandos. TechCrunch points out that using … [Read more...]
Netflix’s Q3 nightmare
Netflix's tale of woe took a turn for the even-worse as the company reported third-quarter subscriber losses that were deeper than it had predicted only a month ago. Netflix also predicted lower revenue and profits for the fourth quarter. The earnings release came after the bell, and Netflix investors braced for another sickening day at the … [Read more...]
Streaming vids boost Netflix profits
Saying "it's very clear that streaming is energizing our growth," Netflix chieftain Reed Hastings announced strong earnings, revenues and subscriber increases for the fourth quarter, sending its stock on a two-day tear. Profits were up 45%. Hastings credited Netflix's movie-streaming service Watch Instantly with the flashy numbers, which handily … [Read more...]