This is a clever marketing move for the streaming service, which costs $7.99 a month in the U.S. Netflix says this morning that for the month of February it will enable non-subscribers to see the first episode of its first original series, House Of Cards, at this web address. Members can see all 13 episodes of the political drama that stars Kevin Spacey, Robin Wright and Kate Mara beginning today. Investors and analysts will be looking to see how the production affects Netflix’s subscriptions. The company enables new customers to try the service for one month free, and doesn’t restrict people’s ability to drop out. “Because we make it easy, they don’t feel trapped by a contract and it’s very easy for them to come back in the service when their lifestyle warrants signing up again,” CFO David Wells told analysts in a conference call last month.
- 2/1/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
The stock price is down more than 16% in after-hours trading following the earnings release. The statistic that jumped out was Netflix‘s disclosure that it added 1.16M domestic streaming customers in the quarter — which is below the 1.56M that analysts expected. That means Netflix will fall short of its prediction to add 7M this year; it lowered its forecast to a maximum of +5.25M paid subs. The Q3 report shows net income of $7.7M, -87.7% vs the period last year, on revenues of $905.1M, +10.1%. The revenue figure came in slightly ahead of the $904.9M that analysts projected. Earnings per share, at 13 cents, were way ahead of the 4 cent consensus forecast. Still, the lighter-than-expected domestic streaming sub growth number left Netflix with 25.1M total subscriptions, below expectations for 25.3M, and revenues in the business of $556M, behind analysts’ prediction of $557.6M. Other numbers were roughly in line with what the Street anticipated.
- 10/23/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Netflix doesn't expect to have to raise more money in the near future, CFO David Wells told an investor conference in New York on Wednesday. Last November, the video-streaming and DVD subscription service agreed to sell $400 million in stock and convertible notes to bolster its cash on hand. Wells said he "felt better" after making the transaction. Since then, Netflix has spent big on new content rights deals as well as getting into the arena of original production on shows like House of Cards, Orange is the New Black, Hemlock Grove and the new season of Arrested Development.
read more...
read more...
- 9/19/2012
- by Eriq Gardner
- The Hollywood Reporter - Movie News
Netflix stock tumbled more than 13% in early after-market trading as investors apparently were less impressed by the stronger-than-forecast Q2 earnings than they were by the company’s projection of a “consolidated loss” in Q4. The numbers for the three months ending in June were better than analysts expected — although far worse than a year ago, just before the company riled consumers by splitting the streaming and DVD rental services. Netflix had net earnings of $6.2M, down about 91% from the same period last year, on revenues of $889.2M, +12.8%. The revenue figure compares to forecasts for $888.9M. And earnings, at 11 cents a share, handily topped predictions of 5 cents. Paid streaming subscriptions in the U.S. increased 3% over the last three months to 22.9M, but the number of paid DVD rental customers fell 8.2% to 9.1M. The company says that in the current quarter “the Olympics are likely to have a negative impact on Netflix and sign-ups.
- 7/24/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
[1] Less than a month after Netflix unveiled [2] a new plan to split off its DVD-by-mail service into a separate service called Qwikster comes news that the company has now reversed that very unpopular decision. In a blog post this morning, CEO and co-founder Reed Hastings announced that the company would be dropping the Qwikster idea entirely, and that DVD-by-mail would remain part of Netflix along with the streaming service. More details after the jump. Netflix revealed its new business model September 18 to widespread irritation and outrage from both customers and shareholders. The move was particularly ill-received coming as it did on the heels of Netflix's pricing model change [3], which had begun taking effect earlier that month. Hastings wrote [4] this morning: It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs.
- 10/10/2011
- by Angie Han
- Slash Film
It’s been a rough few months for Netflix – first they announced significant rate increases that sent customers fleeing and stock prices plummeting. Then came this week’s dreadful announcement that the company was splitting its streaming and DVD by mail services into two companies – meaning customers utilizing both services would get the pleasure of managing two queues and rating a whole lot of movies all over again. For the casual observer, this comedy of errors has been hilarious to watch. For whatever reason, Netflix – a company who once could do no wrong – suddenly can’t do anything right. CFO David Wells is keenly aware of this – and says that Netflix is hard at work trying to devise some contingency plans in the hopes of...
Read More...
Read More...
- 9/23/2011
- by Mike Bracken
- Movies.com
[1] Over the past few months, the seemingly untouchable Netflix has been dragged down by a couple of big fat blunders. First, the pricing model change [2] lost the company a projected [3] one million customers and sent stock prices dropping; then, in an effort to (somehow?) smooth over the situation, Netflix hastily introduced [4] Qwikster and instead managed to only further irritate [5] consumers and shareholders alike. It's clear that Netflix needs to do something to turn their fortunes around at this point, or risk becoming the next AOL or MySpace. But what, exactly? Netflix CFO David Wells recently offered some insight into the various possibilities the company is currently exploring in reaction to the backlash. More details after the jump. During the Goldman Sachs Communacopia conference this week, Wells stated that while he hadn't completely dismissed the idea of price cuts, he did not believe such a move would fix the company's problems.
- 9/22/2011
- by Angie Han
- Slash Film
Netflix CFO David Wells acknowledged today that “we’re a more humble team” following the consumer and investor backlash from a series of PR blunders. The company plans to ”step back and look at all options and what we’ll do going forward” to satisfy consumers who were angered in July when the company said it would split its video streaming and DVD rental services — increasing prices by 60% for those who wanted to continue to have both. Lowering the price doesn’t seem to be on the table. That’s “a little bit like kicking the can down the road,” Wells said at the Goldman Sachs Communicopia Conference. “I don’t think it’s going to win back the customers we lost.” Instead, Netflix likely will secure more content and “repair that trust with the consumer over time.” Defections spiked shortly after the announcement, “but it went to zero shortly afterward.
- 9/21/2011
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.