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Netflix Spending Big on Original Content

“Netflix plans to spend an estimated 17.3 billion this year with a large portion of those funds earmarked for original content.”

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Netflix CEO and Co-Founder Reed Hastings doesn’t care whether you are watching reruns of an old favorite too many times to count or experiencing a Netflix Original for the first time. He knows people are subscribing to the streaming service in record numbers. Netflix recently announced 26 million new subscribers in the first half of 2020, giving the company approximately 193 million subscribers in total.

“Consumers don’t really care how we do it,” Reed said in an interview with Yahoo! Finance. “What they care (about) is that we have some of the best series and the best films that anyone’s ever produced. We care really about what are the options that we have for consumers, rather than how and who produces it.”

Hastings and Netflix have put their money where their mouth is, shelling out 15 billion dollars on content in 2019, putting the company on par with other industry leaders Viacom/CBS and just behind Comcast at 15.4 billion. Disney leads the way, spending 27.8 billion dollars on content.

Netflix plans to reach deeper in their pockets this year as they will spend an estimated 17.3 billion with a large portion of those funds earmarked for original content, according to BMO Capital Markets analyst Dan Salmon.

Some of the most anticipated original programming will feature Prince Harry, Duke of Sussex, and his wife, American actress Meghan Markle, after the couple recently cut ties with the Royal Family. Other original shows that have created industry buzz are Enola Holmesstaring Mille Bobbie Brown (who rose to stardom in the Netflix Original Stanger Things) and Challenger: Final Flight, a documentary which examines the events surrounding the explosion of the Space Shuttle Challenger.

Some other original programming such as Cuties has been widely met with criticism due to perceived sexualization of children. It has caused the hashtag #CancelNetflix to trend on Twitter in recent days.  But Hastings doesn’t seem to mind the controversy or the fact that he is being out-spent by other companies.

“They’re doing a lot of things that are interesting, but we’re focused on being a great entertainment company,” Hastings said. “We’re never going to be all of entertainment. Other people are going to do other shows.”

Story written by BNM contributor Jacob Conley. Follow him on Twitter @GWUJake.

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Lulu Garcia-Navarro to Host Opinion Podcast for NY Times

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release. 

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New York Times

The New York Times will have a new opinion podcast coming out soon called “First Person.” The company announced that Peabody Award-winning journalist Lulu Garcia-Navarro will host this new show beginning June 9th. 

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release

“That’s the question we’re exploring in “First Person,” a new podcast from New York Times Opinion with Lulu Garcia-Navarro. In each episode, Lulu sits down with people living through the headlines for intimate and surprising conversations that help us make sense of our complicated world.”

Garcia-Navarro will bring plenty of experience to her new podcast as a two-time Peabody Award-winning journalist with years of interviewing world leaders, authors, artists, and people living on the front lines of a changing world.

“This show is a new way of understanding where people’s opinions come from. It’s urgent and intimate and takes someone who is living through something incredible and asks them how they came to believe what they believe,” Garcia-Navarro said per Radio Ink

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Twitter Will Not Renegotiate Original Offer with Elon Musk

Twitter doesn’t plan on backing down from the agreement even as Musk attempts to cast doubt about the number of fake accounts on the platform. 

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Twitter is playing hardball with Elon Musk, who initially agreed to buy the social media platform for $44-billion. During a town hall meeting, executives of the company told staffers they would not renegotiate the price of his takeover agreement, per The Daily Beast

Furthermore, Twitter doesn’t plan on backing down from the agreement even as Musk attempts to cast doubt about the number of fake accounts on the platform. 

Nonetheless, earlier this week, the company stated that they had plans to “close the transaction and enforce the merger agreement” between the Telsa CEO and the social media giant. 

The terms of the buyout contract will make it hard for him to evade the deal with Twitter. It contains a $1 billion breakup fee, and the company could sue to compel Musk to follow through on the transaction.

Last week, the entrepreneur tweeted that he was placing the deal on hold until Twitter could verify that spam and fake accounts do not comprise more than 5 percent of its users. 

Musk stated that he was dedicated to purchasing the company and indicated that he was open to a deal at a lower price.

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Donald Trump Accuses Google of Trying to Ruin TRUTH Social

Truth Social was developed by Trump Media and Technology Group (TMTG) and is headed by former congressman Devin Nunes.

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Former President Donald Trump is not happy with Google. According to Rolling Stone, Trump believes that the tech giant is trying to ruin his new social media platform, TRUTH Social. The platform is currently not available to Android users which have drawn the ire of Trump.

“One person whom the outlet did not identify claimed to have discussed TRUTH Social’s unavailability for Android users with Trump,” the magazine wrote. “The person said he has also asked questions such as, “What’s up with Google?” and, “[is Google trying to] screw with me?”

Truth Social was developed by Trump Media and Technology Group (TMTG) and is headed by former congressman Devin Nunes.

Trump reportedly believes that Google and YouTube are out to get him. “This has left Trump with questions about the status of the product and whether his perceived enemies at Google had any plans to reject it,” the report said.

“Is Google trying to f**k me?” Trump asked.

Big Tech banned Trump from Twitter, Facebook, Instagram, and Snapchat following the Jan. 6 riots. 

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