American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

With corners of the media industry in upheaval, Netflix makes clear it’s staying out of the fray

by admin July 20, 2024
July 20, 2024
With corners of the media industry in upheaval, Netflix makes clear it’s staying out of the fray

Netflix’s second-quarter earnings report contained no bombshells, and that’s just fine for the company and its investors.

In recent weeks, Paramount Global has agreed to merge with Skydance Media. Warner Bros. Discovery is considering all options for its future and may lose broadcast rights to the NBA.

While the media and entertainment landscape around Netflix is in a state of change, the world’s largest streamer is fine with the status quo.

“If we execute well — better stories, easier discovery and more fandom — while also establishing ourselves in newer areas like live, games and advertising, we believe that we have a lot more room to grow,” Netflix said in its quarterly shareholder letter. “Because when we delight people with our entertainment, Netflix can drive higher engagement, revenue and profit than the competition. This in turn creates a more loved and valued entertainment company — for our members, creators and shareholders — that we can strengthen and grow over time.”

Netflix classified the streaming, pay TV, film, gaming and branded advertising market as a $600 billion industry in terms of total annual sales, noting the company accounts for about 6% of that revenue.

The streamer added more than 8 million subscribers in the quarter. It now has more than 277 million global customers, making it by far the largest subscription streaming service in the world. Netflix’s market valuation as of Thursday’s market close is $277 billion.

Nielsen statistics show Netflix as the second most-watched streaming service in the U.S., trailing only YouTube. But rather than worry about YouTube’s competition, Netflix is content to focus on the other 80% of the TV market, the company reiterated.

“Looking to the future, we believe our biggest opportunity is winning a larger share of the 80%+ of TV time (primarily linear and streaming) that neither Netflix nor YouTube has today,” the company said.

While Warner and Disney announced a new cross-company bundle in May that will give consumers the ability to buy Max with Disney’s suite of streaming services for a discount, Netflix made a point to say it feels no need to engage with the competition.

“We haven’t bundled Netflix solely with other streamers like Disney+ or Max because Netflix already operates as a go-to destination for entertainment thanks to the breadth and variety of our slate and superior product experience,” Netflix said. “This has driven industry leading penetration, engagement and retention for us, which limits the benefit to Netflix of bundling directly with other.”

Netflix’s focus remains building its advertising business and adding streaming subscribers on the back of its strength of content.

It’s not the most dramatic of narratives. It may not make for a great Netflix series.

But as an investment, shareholders will happily take it.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Meet CrowdStrike, the company at the heart of the global tech outage
next post
New High-Grade Gold Discovery at Golden Ridge, NE Tasmania. ​Grades up to 99.4g/t Au Recorded

Related Posts

OpenAI raises $8.3B as AI demand grows: report

August 2, 2025

Walgreens to go private in $10B deal with...

March 8, 2025

Biden greenlights $567 million defense aid for Taiwan...

September 30, 2024

Rivian stock price analysis: RIVN is at crossroads...

February 17, 2025

Five ETFs to invest in to hedge against...

February 9, 2025

US stocks open lower: Dow down 240 points,...

April 12, 2025

Asia markets fall as Japanese stocks lead regional...

March 4, 2025

Very good news for Applied Digital (APLD) stock;...

September 10, 2024

Oracle stock price forecast: brace for a brief...

October 27, 2024

Should you invest in iDEGEN after Trump’s address...

January 24, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,583)
    • Investing (2,703)
    • Latest News (2,031)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved