Netflix Chief Financial Officer David Wells says $7 billion a year on content might just be a starting point — as long as the company can continue to add to its more than 100 million subscribers around the world. At the Goldman Sachs Communacopia conference in New York on Tuesday, Wells also suggested that $20 million an hour television — which had been floated by Netflix content chief Ted Sarandos — is also a distinct possibility. “Ted mentioned the $7 billion content number — that’s going to continue to grow as long as we can grow our subscriber base,” Wells said....
- 9/12/2017
- by Matt Pressberg
- The Wrap
A 19-year-old Texas woman is facing life in prison for allegedly forcing a 14-year-old girl into sex slavery, People confirms.
A Harris County judge recently tripled the bail for Denise Coronado as the woman appeared in court for allegedly holding the young girl hostage and forcing her to have sex with more than two dozen men over an approximately two-week period, a spokesman for the Harris County District Attorney’s Office tells People. She is accused of working with at least one other person.
“She had multiple men brought in to have sex with while her captors collected the money,...
A Harris County judge recently tripled the bail for Denise Coronado as the woman appeared in court for allegedly holding the young girl hostage and forcing her to have sex with more than two dozen men over an approximately two-week period, a spokesman for the Harris County District Attorney’s Office tells People. She is accused of working with at least one other person.
“She had multiple men brought in to have sex with while her captors collected the money,...
- 3/21/2017
- by Char Adams
- PEOPLE.com
With its growing investments in original programs, Netflix expects to burn about $2 billion of its cash flow this year — up from $1.7 billion last year — execs said in a quarterly conference call with Wall Street. But they insist that it’s money well spent because it helps the company control its destiny. “It’s a good thing for the shareholder,” CFO David Wells says. “We control more of the rights and the global advantages.” Chief Creative Officer Ted Sarandos adds that…...
- 1/18/2017
- Deadline TV
Zootopia is generating “huge numbers” on Netflix, Chief Content Officer Ted Sarandos says of the first Disney film offered on the streaming service as part the carriage deal that kicked in this year. But Netflix execs, in their Q3 conference call with analysts, said nothing that shed light on one of the Street’s favorite rumors: that Disney might want to buy the company. Sarandos, CEO Reed Hastings, and CFO David Wells defended the growing amounts that they’re spending…...
- 10/17/2016
- Deadline TV
Netflix, once simply known as a video rental service that sent you DVDs in the mail, has grown into a huge player. It's wide range of original content, from shows to movies to documentaries to comedy specials, has actually become the company's biggest selling point- as opposed to the old days when they were merely a middle man between you and the studios. And they want to give you more homegrown entertainment to peruse. Much, much more. And while that's cool, it'll definitely come at a price.
During an investor conference call, Netflix CFO David Wells said that the streaming network wants to eventually get to a place where half of its lineup will be comprised of original content.
"It will take us a couple more years [to get there],” Wells said. “We’re a third to halfway to where we want to be. We’ve got a ways to go."
That said,...
During an investor conference call, Netflix CFO David Wells said that the streaming network wants to eventually get to a place where half of its lineup will be comprised of original content.
"It will take us a couple more years [to get there],” Wells said. “We’re a third to halfway to where we want to be. We’ve got a ways to go."
That said,...
- 9/21/2016
- by Mario-Francisco Robles
- LRMonline.com
Three years after it entered the original content business, Netflix looks to have originals make up about half of its offerings, CFO David Wells told investors today at the Goldman Sachs Communacopia Conference. “It will take us a couple more years” to hit that target, he says. “We’re a third to halfway to where we want to be. … We’ve got a ways to go” as the company looks for “a mixture of production models” — though not sports or ad-supported offerings. But he warned…...
- 9/21/2016
- Deadline TV
Password sharing is no longer a phenomenon reserved for a few broke college kids, and it could have very serious consequences for everyone in the entertainment industry. So why isn’t Netflix’s chief financial officer worked up about the five people mooching off your single Netflix account? “If they don’t use within the terms of use, we’re not happy,” CFO David Wells told analysts at a conference in New York on Tuesday. “We could crack down on it, but you wouldn’t suddenly turn them all into paid users.” More likely is that doing so would loosen some of the glue that.
- 9/20/2016
- by Oriana Schwindt
- The Wrap
[[tmz:video id="0_npjndzql"]] All you crazy bat-flipping home run hitters should thank your lucky stars you weren't born a couple years earlier ... 'cause retired Mlb stud pitcher David Wells says if you did it to him ... you'd wear baseball. We got Wells at the Hank's Yanks Golf Classic in NYC and asked him about the recent trend of the bat flip -- hitters showing up pitchers with aggressive lumber tossing after they go yard. The main culprit is,...
- 6/27/2016
- by TMZ Staff
- TMZ
The streaming service saw just over 4m new members outside the Us in the fourth quarter of 2015 compared to an influx of 1.56m from within the Us.
International membership has reached 30.02m and analysts will watch that number closely in light of the recent expansion into a further 130 countries, bringing the footprint to 190. The number of Us subscribers stands at 44.74m.
CEO Reed Hastings said Netflix was in no hurry to enter China and would do so when the time was right.
Hastings and CFO David Wells said there would be 600 hours of original programming this year, an emphasis on family shows and local-language content, especially in Brazil, Mexico, France, Italy and Japan.
The hierarchy said defended the company’s policy of not revealing ratings and said subscriptions was the indicator of the popularity of the service’s shows popularity.
Adam Sandler film The Ridiculous Six, which began streaming in December, was the most...
International membership has reached 30.02m and analysts will watch that number closely in light of the recent expansion into a further 130 countries, bringing the footprint to 190. The number of Us subscribers stands at 44.74m.
CEO Reed Hastings said Netflix was in no hurry to enter China and would do so when the time was right.
Hastings and CFO David Wells said there would be 600 hours of original programming this year, an emphasis on family shows and local-language content, especially in Brazil, Mexico, France, Italy and Japan.
The hierarchy said defended the company’s policy of not revealing ratings and said subscriptions was the indicator of the popularity of the service’s shows popularity.
Adam Sandler film The Ridiculous Six, which began streaming in December, was the most...
- 1/19/2016
- by jeremykay67@gmail.com (Jeremy Kay)
- ScreenDaily
Former Yankees pitcher David Wells has no problem with his ex-team trading for the troubled Aroldis Chapman ... saying his off-the-field issues Don't Matter ... cause the dude can flat out pitch. Chapman is currently under investigation by the Mlb for allegedly choking his girlfriend making some wonder why the Yanks would deal for him now ... Wells ain't one of them. "In all honesty I don't give a crap what he's done off-the-field. As long as he shows up to practice,...
- 12/30/2015
- by TMZ Staff
- TMZ
When Netflix reports on its quarterly earnings, it can usually brag that it has hit the growth benchmarks previously set as its three-month goals. In Q3 2015, however, the streaming video on-demand platforms numbers ended up lower than it expected. Despite the fact that Netflix brought in 3.6 million new subscribers between July 1st and September 30th, it fell short of its Us subscriber acquisition target by 270,000 people.
Netflix said it would add 1.15 million new Us subscribers in Q3, but its actual total was 880,000. In their latest earnings letter, Netflix CEO Reed Hastings and CFO David Wells attributed the lower-than-expected subscriber totals to “slightly higher-than-expected involuntary churn (inability to collect), which we believe was driven in part by the ongoing transition to chip-based credit and debit cards.” That reasoning didn’t seem to satisfy all of the company’s investors, as Netflix stock fell 14% during after-hours trading on October 14th.
Another possible...
Netflix said it would add 1.15 million new Us subscribers in Q3, but its actual total was 880,000. In their latest earnings letter, Netflix CEO Reed Hastings and CFO David Wells attributed the lower-than-expected subscriber totals to “slightly higher-than-expected involuntary churn (inability to collect), which we believe was driven in part by the ongoing transition to chip-based credit and debit cards.” That reasoning didn’t seem to satisfy all of the company’s investors, as Netflix stock fell 14% during after-hours trading on October 14th.
Another possible...
- 10/14/2015
- by Sam Gutelle
- Tubefilter.com
Netflix shares have dropped 15 percent in after-hours trading Wednesday on news that the company added fewer subscribers and generated less revenue than expected in the third quarter. For the quarter that ended Sept. 30, Netflix had 69.17 million reported streaming subscriptions — an addition of 2.74 million international subscribers, but only 880,000 U.S. subscribers. The company had expected to add 1.15 million domestic subscribers in the quarter. Also Read: Netflix Raises Price of Standard Streaming Plan In their letter to shareholders, CEO Reed Hastings and CFO David Wells wrote: “While global growth was as we expected, our forecast was high for...
- 10/14/2015
- by Daniel Holloway
- The Wrap
As the streaming giant announced on Wednesday 3Q earnings that fell below expectations, chief content officer Ted Sarandos offered insights into performance in two key territories.
Net income of $29m for the three months ending in September dropped around 51% against the same period of 2014, as revenues reached $1.58bn for a 29% fall.
Shares fell 7% in post-market trading and the number of new Us subscribers climbed by 880,000 to 44.8million, although Netflix had expected a 1.15million gain.
CFO David Wells attributed that in part to “involuntary churn” as Us retailers switch to chip-based debit and credit cards.
The $1 monthly rise in subscription costs pushing standard membership tarrif to $8.99 may also be a factor although co-founder and CEO Reed Hastings insisted the streaming giant’s price point still represented “incredible value”. He declined to talk about future price rises.
However international growth surpassed expectations as 2.74million new members boosted the overall number to 26million.
Speaking on a conference...
Net income of $29m for the three months ending in September dropped around 51% against the same period of 2014, as revenues reached $1.58bn for a 29% fall.
Shares fell 7% in post-market trading and the number of new Us subscribers climbed by 880,000 to 44.8million, although Netflix had expected a 1.15million gain.
CFO David Wells attributed that in part to “involuntary churn” as Us retailers switch to chip-based debit and credit cards.
The $1 monthly rise in subscription costs pushing standard membership tarrif to $8.99 may also be a factor although co-founder and CEO Reed Hastings insisted the streaming giant’s price point still represented “incredible value”. He declined to talk about future price rises.
However international growth surpassed expectations as 2.74million new members boosted the overall number to 26million.
Speaking on a conference...
- 10/14/2015
- by jeremykay67@gmail.com (Jeremy Kay)
- ScreenDaily
Netflix has hit yet another subscriber milestone. In a shareholder letter, the streaming subscription platform announced it now boasts a whopping 65.6 million total subscribers across the world, a 3.3 million increase since Q1’s report.
Netflix had estimated it would add 2.5 million more subscribers in Q2 of 2015, so it beat its projection by 0.8 million subscribers. The 3.3 million new subscribers was also almost double the amount of subscribers (1.7 million) the streaming platform earned in the same quarter in 2014.
In a shareholder letter as reported by Variety, Netflix CEO Reed Hastings and CFO David Wells credited Netflix’s subscriber growth in Q2 2015 to the service’s growing original content library and subscribers’ increased interest in the programming. Original shows such as Daredevil and season three of Orange Is the New Black, which were introduced to the streaming platform in the last quarter, helped fuel Netflix’s subscriber count.
Hastings and Wells also said...
Netflix had estimated it would add 2.5 million more subscribers in Q2 of 2015, so it beat its projection by 0.8 million subscribers. The 3.3 million new subscribers was also almost double the amount of subscribers (1.7 million) the streaming platform earned in the same quarter in 2014.
In a shareholder letter as reported by Variety, Netflix CEO Reed Hastings and CFO David Wells credited Netflix’s subscriber growth in Q2 2015 to the service’s growing original content library and subscribers’ increased interest in the programming. Original shows such as Daredevil and season three of Orange Is the New Black, which were introduced to the streaming platform in the last quarter, helped fuel Netflix’s subscriber count.
Hastings and Wells also said...
- 7/15/2015
- by Bree Brouwer
- Tubefilter.com
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