Reed Hastings

Netflix CEO: Web firms to benefit first from 4K

Ultra High Definition, also known as 4K, will benefit online firms before traditional broadcasters, with the technology still years away from being deployed by cable and satellite firms, according to Netflix CEO Reed Hastings. Speaking in an interview with the BBC at the Consumer Electronics Show in Las Vegas, Hastings said that 4K was shaping […]

Netflix begins 4K trials

Netflix has reportedly added a small number of Ultra HD videos to its US site, ahead of a wider planned push for the technology next year. According to US reports, Netflix added some seven 4K test videos to its service last week, with the firm also reportedly shooting thesecond season of its original drama House […]

Carl Icahn sells Netflix shares for bumper $819m

Billionaire investor Carl Icahn has sold more than half of his shares in streaming site Netflix in deals that have pocketed him more than US$800 million. According to an SEC filing issued yesterday, Icahn sold 2.98 million shares – around 5.1% of his 9.4% stake – over 12 days beginning October 10. The deals are […]

Netflix goes live in the Netherlands

Netflix went live today in the Netherlands, offering streamed access to its catalogue of movies and films for €7.99 per month. At launch the US-based VOD giant promised to offer “thousands of hours of entertainment,” including all episodes of its four original series that debuted this year and have not previously aired in the Netherlands […]

Netflix to move into original feature docs, stand-up

US streaming service Netflix will broaden its original content strategy by moving into one-off feature documentaries and stand-up comedy, its CEO has revealed. Reed Hastings (pictured) made the announcement in a letter to shareholders, in which he also claimed original content strategies adopted by streaming rivals Hulu and Amazon Prime were helping OTT platforms to […]

Viacom plans TV production push as revenues fall

MTV and Nickelodeon owner Viacom has seen revenues fall 6% year-on-year in its second quarter results, but is planning to invest more in original content across its improving TV channels business. Q2 revenues to March 31, 2013, were US$3.14 billion compared with US$3.31 billion in 2012, on top of operating income down 9% at US$847 […]

Netflix lawsuit dismissed

The lawsuit accusing Netflix of misleading investors has been dismissed by a US court. A group of shareholders in the US-listed streaming and delivery service had alleged it had hidden costs while insiders sold stock. However, Reuters reports, a district judge in a San Francisco court ruled on February 12 that the shareholders had not […]

Netflix lowers US target but hails international growth

Netflix has lowered its full year subscriber target for the US, but said it has witnessed stronger than forecast growth in each of the international markets in which it operates. As expected, the company reduced its subscriber target in the US from seven million net additions to five million in the wake of reporting its […]

Netflix under pressure to deliver ahead of results

Analysts expect Netflix to fail to stay on course to hit earlier subscriber targets when it reports results later today and several are questioning the impact the company’s international expansion is having on its financial performance. Netflix boss Reed Hastings said earlier this year that the streaming and DVD delivery (in the US) business would […]

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