Reed Hastings

Netflix: Disney+ will be a “formidable” partner

Netflix boss Reed Hastings has said that Disney’s SVOD service will be a “formidable” partner for the streaming giant when it launches next year. The exec told the BBC that Disney+, which was unveiled last week by CEO Bob Iger, has got “so much content [like] Star Wars and Marvel, they’ll be a great competitor. […]

Netflix opens Paris office, agrees 2% tax on revenues

Netflix has opened a fully staffed Paris office, while agreeing to a 2% tax on annual revenues in France. The French office – which follows bases in Amsterdam and London – will have around 20 staff who will be a mix of new hires and employees relocating from Amsterdam, where the streaming giant opened shop […]

Netflix CFO David Wells steps down

Netflix’s chief financial officer David Wells is to step down after helping the company choose his successor. Wells, who joined Netflix in 2004 and has served as CFO since 2010, will stay until a successor takes the role for a smooth transition. The search for a new candidate will include both internal and external applicants. […]

Netflix launches ad celebrating black creators as controversial comms chief departs

Netflix unveiled an ad during Sunday’s BET Awards that celebrates black creators on its platform, as its comms boss Jonathan Friedland departed the company after using the N-word. The ad, titled A Great Day in Hollywood, was inspired by the 1958 photograph A Great Day in Harlem, which featured 57 jazz legends. Netflix’s spot focuses […]

Netflix reaches 125m subs with revenue surge for Q1

Netflix added a record number of first quarter subscribers and grew its streaming revenues by 43% year-on-year in what was another sterling three-month period for the online video giant. Netflix said it added 7.41 million members in the first quarter – 1.96 million in the US and 5.46 million internationally. This was up 50% compared […]

Barack Obama in talks to produce Netflix shows

Former President Barack Obama is set to produce a series of high-profile series for SVOD service Netflix. According to the New York Times citing people familiar with the situation, Obama is in “advanced negotiations” with the streamer. Signing a former president would arguably be Netflix’s biggest ever coup, eclipsing big bucks agreements with the likes […]

Netflix to bring in $15bn in sub fees for 2018, says CEO

Netflix CEO Reed Hastings has stated that Netflix is set to earn around $15bn (£10.8bn) in subscription revenue this year by sticking to its strategy of delivering original content. The streaming giant told Nikkei Asian Review reporters, who also first reported the story, that the company’s guiding principle is turning subscribers “hard-earned money” into quality […]

Netflix strikes Sky deal across Europe

Netflix will be bundled into a new Sky pay TV subscription pack in Europe. Customers with the next-generation, Ultra HD Sky Q box will be able to access the service for the first time. Netflix will launch along with the new subscription pack in the UK and Ireland in the coming year, with the same […]

Netflix joins ex-Disney India chief on film

SVOD service Netflix is working up a romantic comedy movie from RSVP, the new production company of former Disney India chief Ronnie Screwvala. Love Per Square Foot is the first mainstream production from India that Netflix will launch internationally, and comes as rival Amazon continues to pour money into original content from the Asian territory. […]

Netflix plans $8bn content spend in 2018

Netflix added a record number of third quarter subscribers in its most recent quarter and announced that it now plans to spend up to US$8 billion on content in 2018. The SVOD giant said in its latest earnings report that it added 5.3 million members globally in the third quarter of 2017, up 49% year-on-year and […]

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