Netflix says a demonstrated ability to learn and apply new skills quickly can be the key for Black talent who want to get their start in the tech industry.
A fast pace of learning is a core element of a new bootcamp that Netflix announced on Thursday, with the HBCU Norfolk State University and an organization called 2U.
The online program, which Netflix helped design, is a 16-week crash course in technical fields including advanced data science, UX/UI design, and Java engineering.
Two Netflix staffers involved with the program told Business Insider about some of the core elements that Black talent who aren’t affiliated with Norfolk could also learn from it, including mentorship and getting exposure to growing fields earlier in their careers.
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Silicon Valley moves swiftly and Netflix says a demonstrated ability to learn and apply new skills quickly can be the
Netflix will soon let viewers use the service for free for 48 hours
The “StreamFest” promotion will be kicking off in India on Dec. 4
Netflix hopes to entice new subscribers after falling short on third quarter expectations
Netflix will be letting viewers use the service for free for a limited time after a report recently revealed that the platform fell short of expectations in the third quarter of 2020.
The streaming giant is going to start an initiative called “StreamFest” on Dec. 4 that will allow viewers to use the platform for 48 hours and see the content they want to without any charge, Variety first reported. According to the COO and chief product officer Greg Peters, India will be the first country to get the 48-hours-for-free test service.
Speaking about the newest way of promoting the platform, Peters said that he is really “excited” about the
Netflix has released its earnings report for the latest quarter, and despite the pandemic still keep people at home, user growth slowed down compared to previous financial periods. To help improve matters, Netflix has also confirmed a new promotion where anyone can watch Netflix’s content for free, but it appears this promotion may only be available in India.
Netflix added 2.2 million paid subscribers during the quarter, which is down sharply from 10.09 million subscribers added in the previous quarter and below Q3 2019, when Netflix got 6.8 million people to sign up for the streaming service. Netflix said it expected this downturn, and it pointed out that, for the first nine months of 2020, the company added 28.1 million paid memberships. For comparison, that number is greater than the total number of new subscribers for all of 2019 (27.8 million).
“In these challenging times, we’re dedicated to serving our
Netflix bid farewell to several senior programming executives in recent weeks — and the company’s two co-CEOs, Reed Hastings and Ted Sarandos, maintained that the turnover is business as usual for the streamer.
In September, Sarandos named Bela Bajaria VP of global TV, while VP of original content Cindy Holland was given the “Keeper Test” after 18 years at the company. Other exits: Jane Wiseman departed after a little over six years as VP of originals and head of comedy, while Channing Dungey, VP of original content and head of drama, left two weeks ago and was just named chairman of Warner Bros. Television Group.
Sarandos, Netflix’s chief content officer who was elevated to co-CEO in July, was asked about the recent executive churn by Barclays Capital analyst Kannan Venkateshwar on the company’s third-quarter 2020 earnings interview.
“I restructured the content team to be more like our film team, and
Shares of consumer video service Netflix are down sharply after the bell today, following the company’s Q3 earnings report.
Why is Netflix suddenly worth about 5% less than before? A mixed earnings report, a disappointing new paying customer number, and slightly slack guidance appear to be the answer.
Heading into the third quarter, Netflix told investors that they should expect it to generate revenues of $6.33 billion, operating income of $1.25 billion, and net income of around $954 million, worth about $2.09 in earnings per share.
Today, Netflix reported $6.44 billion in revenue, operating income of $1.32 billion, along with $1.74 in per-share profit off of net income of $790 million.
Netflix bested its revenue goals, but fell short on profitability.
The company also managed to best analyst revenue expectations of $6.38 billion, while missing out on analyst per-share profit expectations of $2.13.
MoffettNathanson’s latest look at media/Internet names raises the specter of whether the sector is in a bubble – comparing current valuation approaches to those taken in the dot-com bubble-and-crash of 1999-2000.
But the firm sees some long-term value in premium names due to structural tailwinds; that includes names it’s Neutral on, like Roku (NASDAQ:ROKU), where it’s raised its price target to $170 from $145, and Netflix (NASDAQ:NFLX), where it maintains a target of $390.
On the positive side, it still sees Fox (NASDAQ:FOXA) as a Buy due to fundamentals and an attractive valuation. It’s bumped that price target to $37 from $36 (implying 42% upside).
And on the downside, it thinks Omnicom (NYSE:OMC) has limited upside and rates it a Sell. Its price target of $45 implies 11.5% downside.
The firm reiterated its Neutral rating on ViacomCBS (NASDAQ:VIAC) but raised its price target to $27 from $25 (vs.
LOS ANGELES—The Parents Television Council and Enough is Enough, advocacy groups that focus on internet safety and programming for children, are asking U.S Attorney General William Barr to open up an investigation into Netflix on whether it violated federal statutes against child pornography by distributing the French film “Cuties.”
“Cuties” has been surrounded in controversy since its debut on the streaming platform. The story follows a group of 11-year-old girls that try to win a dance competition with a dance routine that PTC describes as “highly eroticized.” Other sexual situations are presented in the film, though no child nudity is depicted. The film is rated TV-MA.
In September, Netflix was indicted by a grand jury in Tyler County, Texas, for the “promotion of lewd visual material depicting [a] child” in “Cuties.” Some conservative U.S. Senators, including Sen. Ted Cruz (R-Texas) and Sen. Josh Hawley (R-Mo.), have also criticized the
Roku is a household name in the United States, making some of the best and most popular streaming devices on the market. But did you know that Roku was very nearly a part of Netflix?
In fact, it was Netflix engineers that developed the first Roku device. It was slated to launch in 2007, the same year that Netflix launched its now-ubiquitous video-on-demand service. But just a few weeks before this “Netflix Player” came to market, the strategy shifted and it was instead spun off into its own company.
Here’s the full story, but first a bit of context.
A bygone era
It’s easy to forget in today’s streaming-centric society that things were very different back in 2007. Netflix’s main business was mail-in DVD rentals, and the entire concept of video streaming was in its infancy. Even early versions of Vimeo and YouTube were just starting to get off the
Netflix’s meteoric international subscriber growth in 2020 has started to slow, data from the analytics firm SimilarWeb that was shared exclusively with Business Insider suggests.
SimilarWeb tracked traffic to and engagement on Netflix’s sign-up and cancellation pages outside the US and Canada to estimate the company’s international subscriber growth during the third quarter.
The data suggested that while fewer people canceled their Netflix subscriptions, Netflix’s international subscriber growth also fell below the levels this time last year.
Netflix, which reports earnings for its third quarter on October 20, said a slowdown in subscriber growth was coming after the pandemic drove record rises in subscribers during the first half of the year.
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Netflix’s meteoric international subscriber growth in 2020 is starting to slow, data from the analytics firm SimilarWeb that was shared exclusively with Business Insider suggests.