Apr 22
Netflix will be raising its price in the not-s0-distant future, CEO Reed Hastings announced yesterday
Apr 21
Amazon Fire TV’s voice search is one of its best features, but at launch it only played nice with Am
Posted in: Today's ChiliAmazon Fire TV
Mar 25
Sometime in early February, I loaded up Netflix on my PlayStation 3 to watch Captain America: The First Avenger. I planned to re-watch the flick to get ready for its amazing-looking sequel, which hits theaters soon. But as I cycled through titles on My List, I soon realized the action-packed Marvel film was no longer there.
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Mar 20
Netflix CEO Reed Hastings has come out with an open letter extolling the virtues of net neutrality b
Posted in: Today's ChiliNetflix CEO Reed Hastings has come out with an open letter extolling the virtues of net neutrality because, well duh. Also mentioned is how much Netflix really didn’t want to sign a deal the devil Comcast, but if everyone’s favorite merger in process
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Jan 23
Apparently creating a company called “Qwikster” wasn’t the only bad idea Reed Hastings had: in an internal motivational video uncovered by FastCompany, you get a look at the CEO’s idea of humor. Let’s make fun of overworked, unconscious Chinese workers. More »
Nov 16
Netflix CEO claims Amazon losing up to $1 billion a year in streaming video war
Posted in: Today's Chili 
Netflix isn’t sinking, but it’s certainly not the soaring brand it once was and has endured its fair share of struggles over the last several years. But, if you think Reed Hastings is shaking in his boots over encroaching competition you’d be wrong. The CEO says that Amazon will pose a legitimate threat to its streaming video dominance, but that day is still a long way off. He claims that the Kindle purveyor is losing between $500 million and $1 billion a year as it builds its empire and secures licensing rights. Of course, Hasting’s comments during an interview with Dow Jones are largely speculative; based on the value of deals in which the two have competed directly. Then again, there seemed to be some implicit admission of the costs and struggles associated with competing in the subscription video sphere during its Q3 earnings report. The company lowered its forecast for the next quarter, saying it could lose as much as $490 million.
Filed under: Amazon
Netflix CEO claims Amazon losing up to $1 billion a year in streaming video war originally appeared on Engadget on Fri, 16 Nov 2012 15:49:00 EDT. Please see our terms for use of feeds.
Jul 24
Netflix Q2 2012 earnings: 530,000 more US subscribers and a return to profitability
Posted in: Today's Chili 
Netflix recently let it drop that its users clocked in more than one billion hours of content-viewing in the month of June alone, although the big question for CEO Reed Hastings is how that relates to the company’s subscriber base. The results are in from its Q2 2012 earnings report, and it’s claiming 27.56 million streaming subscribers worldwide, up from 26 million last quarter. In the US alone that includes 23.94 million customers, after it reported 23.4 million in Q1, while DVD customers dropped by 850k to 9.24 million. While the number of new subscribers wasn’t as high as some had hoped, the good news is the company is finally back in the black, with $889 million in revenue providing $6 million in net income. On the flip side, a plan to launch service in an “additional attractive European market” in Q4 is expected to result in temporary losses, but we’ll find out more about those plans later in Q3.
One other issue that has been resolved is the search for a new Chief Marketing Officer resulting in the hiring of Kelly Bennett, formerly a marketing executive with Warner Bros. This morning Verizon and Redbox began to carefully pull back the cover on their competing offering, and Amazon has also been making significant waves in the space. However in response, Netflix says Amazon and Hulu Plus have yet to gain meaningful traction in relation to its viewing hours, and it expects Redbox Instant to face a “big challenge” to break into the existing top 3. Its current content deal with Epix will lose online exclusivity “shortly” although it will still offer those titles, we’ll see if any of the competition joins in. Their biggest competition however, is expected to come from efforts like Comcast’s new X1 and Sky’s Now TV, while for HBO, the possibility of cooperation is actually raised (again). We’ll see if that happens or if there are any more juicy details revealed on the investor call in a few minutes.
Filed under: Home Entertainment, Internet
Netflix Q2 2012 earnings: 530,000 more US subscribers and a return to profitability originally appeared on Engadget on Tue, 24 Jul 2012 16:07:00 EDT. Please see our terms for use of feeds.
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