Warner Bros. Discovery will reportedly implement paid-sharing on Max as it gets stricter later this year about subscribers letting other people use their accounts.Bloomberg reported this week that Warner Bros.
17.04.2024 - 13:13 / variety.com
Todd Spangler NY Digital Editor Wall Street is betting that Netflix‘s stream machine continued to fire on all cylinders coming into 2024. After netting a whopping 13.1 million new subs in Q4, Netflix is riding a wave of momentum that continues to be buoyed by the paid-sharing strategy, as it converts password borrowers into paying members, according to analysts.
Netflix “remains the undisputed leader in streaming TV,” Macquarie Equity Research’s Tim Nollen said in a research note to clients Monday. Netflix is scheduled to report Q1 2024 earnings after market close Thursday (April 18).
The company previously said it expects Q1 net adds to be higher than the year-earlier period, when it gained 1.75 million subs. And financial analysts anticipate the number to be much, much higher, with several raising their price targets on the stock — which has zoomed 86% in the last 12 months — ahead of the Q1 earnings report based on upward revisions to their financial estimates.
Morgan Stanley’s Ben Swinburne estimates Netflix reeled in 7.5 million new paid customers in the first quarter, with Q1 featuring more “breakout hits” than the year-end 2023 quarter, such as live-action series “Avatar: The Last Airbender,” “Fool Me Once” and “The Gentlemen.” In an April 12 note, the analyst raised his price target on Netflix’s stock from $600 to $700/share, based on better-than-expected subscriber growth driving higher earnings (with Morgan Stanley’s estimated 2026 earnings per share increasing from $27 to $29). According to Morgan Stanley’s analysis, licensed series represented less than 10% of aggregate engagement among the top 50 shows from Q3 2021 to Q1 2024.
Warner Bros. Discovery will reportedly implement paid-sharing on Max as it gets stricter later this year about subscribers letting other people use their accounts.Bloomberg reported this week that Warner Bros.
Todd Spangler NY Digital Editor Jessica Casano-Antonellis is exiting SiriusXM to join the new Disney, Fox Corp. and Warner Bros. Discovery sports-streaming venture as head of communications.
Todd Spangler NY Digital Editor SAG-AFTRA will license Nielsen‘s streaming content data, which the union will to enforce the terms of its 2023 contract with Hollywood studios. Under the deal for Nielsen’s Streaming Content Ratings, SAG-AFTRA will have “an objective source of domestic viewership data for original streaming programming,” the parties announced.
Todd Spangler NY Digital Editor Crunchyroll, the Sony-owned anime streaming service, is raising prices for its two top tier packages in select countries — the first pricing hike in five years. The pricing is increasing for Crunchyroll’s Mega Fan and Ultimate Fan subscription tiers in select countries. “The price change reflects the increase in content on Crunchyroll in recent years, expanding its catalog to more than 45,000 episodes via 1,400 series and films,” the company said in a blog post.
Todd Spangler NY Digital Editor Oprah Winfrey is off the board of WeightWatchers — but she’s continuing to work with the company as part of her efforts to change the cultural conversation about weight. Winfrey will host “Making The Shift: A New Way to Think About Weight,” a three-hour event on Thursday, May 9, from 6-9 p.m.
Todd Spangler NY Digital Editor The three Paramount Global executives installed to run the company after Bob Bakish was removed as CEO sought to reassure employees that they have a long-term strategy. On Monday, Paramount Global said Bakish was stepping down as CEO and leaving the board. In his place, the company established an “Office of the CEO” committee led by three divisional heads: George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon.
Todd Spangler NY Digital Editor Brian Roberts, chairman and CEO of Comcast, had a compensation package worth $35.47 million in 2023, as he saw his pay rise 11% from the year prior. Roberts, who oversees the cable giant and NBCUniversal, last year had a salary of $2.5 million, stock awards worth $15 million, stock options worth $9.2 million and a $8.55 million cash incentive bonus. In 2022, his compensation totaled about $32.1 million.
Thomas Frank isn't expecting Aaron Hickey to play for Brentford again this season, but ISN'T ruling out his chances of going to the Euros...even if his chances 'aren't fantastic.'
Todd Spangler NY Digital Editor Imax fans turned up in droves to see “Dune 2” on the really big screen, helping the company top analyst earnings estimates for the first quarter of 2024. Despite the sandworm bump, it was a tough compare with the year-ago period when Imax benefited from the blockbuster success of “Avatar: The Way of Water” in 2023 to deliver its highest-grossing Q1 to date.
Netflix has released their monthly list of every movie and TV show that will be expiring from the streaming service soon.
Peter Kay shows.The Bolton comedian was due to perform tomorrow (April 23) and Wednesday (April 24) but following a test gig featuring Rick Astley at the weekend, it has been decided that the dates will be moved to next Monday (April 29) and Tuesday (30) due to the venue’s power testing falling “a few days” behind schedule.A statement from the venue said: “Following our first test event on Saturday, regretfully we have made the difficult decision to reschedule our two opening performances by Peter Kay. It is critical to ensure we have a consistent total power supply to our fully electric sustainable venue, the completion of which is a few days behind.An important update from Co-op Live.
Jonathan Antoine, famed for his stint on Britain's Got Talent, has been in the spotlight following his weight loss journey and recent diagnosis.
BAFTA Unveils Special Award Winner & Host For 2024 Craft Gongs
Todd Spangler NY Digital Editor Netflix made a surprise announcement in reporting its (very good) first-quarter 2024 results this week: The streaming TV powerhouse will stop reporting quarterly subscriber figures starting in 2025. In response, Netflix shares have taken a hit: The stock is down 8.7% Friday on the news, as investors fret that the lack of visibility into the streamer’s customer numbers signals a looming slowdown in the company’s growth.
Todd Spangler NY Digital Editor Netflix will no longer report subscriber numbers — which has been a key metric for streaming services for years — beginning with the first quarter of 2025. The company made the announcement in releasing its first-quarter 2024 earnings Thursday. Netflix handily topped expectations for subscribers net adds, gaining 9.33 million in the period, to reach nearly 270 million globally.
Todd Spangler NY Digital Editor Netflix co-CEO Ted Sarandos earned a bit less in 2023 than the year before — but he still had pay package worth $49.8 million. That was down from $50.3 million for Sarandos in 2022, according to Netflix’s proxy statement filed Thursday.
Michaela Zee Stephen Colbert is taking “The Late Show” on the road. The late-night program will broadcast live from Chicago’s Auditorium Theatre during this year’s Democratic National Convention, also taking place in Chicago, from Aug. 19-22 on the CBS Television Network.
Todd Spangler NY Digital Editor TikTok says it’s going to block accounts from appearing in its algorithmically generated For You feed if they repeatedly post content that runs afoul of its updated eligibility standards. As part of a larger update to its community guidelines, TikTok is updating its For You eligibility standards.
Lisa Armstrong, Ant McPartlin's ex-wife, showed a rare display of support for the presenter during the final episode of Saturday Night Takeaway this weekend.The popular family entertainment show, hosted by Ant and his best pal Declan Donnelly, has been a staple on our screens for over two decades. The last episode was packed with surprises and special guests like Simon Cowell and Holly Willoughby, ending with an emotional farewell from the beloved duo.
Todd Spangler NY Digital Editor Following a hack that exposed more than 15,000 Roku accounts last month, the company said Friday it discovered a second security incident that affected 576,000 additional user accounts. Roku said it reset the passwords for all affected accounts and are notifying those customers directly about the latest incident.