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The streaming giant is also hiring more junior staff, paring back its real-estate footprint and reducing the number of copies of data and content it stores around the world, the report said.
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The stock market reacted with a vengeance. Netflix shares have fallen more than 40% since then and more than 70% from their peak in November.
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Netflix said the competition “may affect our marginal growth somewhat” but added that it is still growing in every country where new streaming options have been launched.
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Season 2 puts forward new suspects, replays scenes from different perspectives for no apparent reason, and continues in the telenovela style with emotional temperature slightly turned down.
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“Mank,” a black-and-white drama about 1930s Hollywood, led all films with 10 nods including best picture, director, actor and supporting actress.
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The author seems to have had an audience in mind while writing this book; people like him, people with an entrepreneurial streak; people who like generating ideas, developing them, and expanding them into business plans; It is to them that Randolph is opening up.
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The company plans to use the proceeds to fund original shows, acquire content and for possible acquisitions, at a time when major U.S. studios are halting production and delaying film releases due to the coronavirus-led lockdowns.
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The Los Gatos, California-based company has previously used India as a testing ground for new features, launching a mobile-only monthly plan starting at 199 rupees ($2.79) this year.
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Under the company's plans announced on Tuesday, any purchaser of an iPhone, Macbook, iPad, or iPod Touch will now get the Apple TV+ streaming service free and will be charged $5 a month only if they decide to continue after the year is over.
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California-based Netflix currently offers three monthly plans in India, ranging from 500 rupees to 800 rupees, but those are still expensive compared with similar offerings from rivals.
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Wells intends to resign after helping the company find a successor. The search will include both internal and external candidates, the company said.
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The move illustrates how one of the most successful streaming media companies values physical advertising assets as it steps up its marketing efforts. Billboards are holding their own compared to other forms of traditional advertising, such as ads in newspapers or TV that are easy to skip.
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Amazon on Wednesday rose over 2 percent and touched $1,500 for the first time, while Netflix rose also rose over 2 percent and nearly hit its own record high.
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Shares of the world's leading online video streaming service touched a record high on Monday and rose a further 1.2 percent after hours to $205.07. They are up about 64 percent this year.
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The company broke a two-quarter trend of disappointing subscription growth. Netflix, which has spent heavily to expand outside its home market, also said that it was on track to start harvesting "material global profits" next year, even as it raised spending on original programming.
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Alibaba spokesman Bob Christie was responding to market rumours about a possible deal between the Chinese e-commerce company and the US video service.
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The dominant subscription video service on Monday also forecast slower-than-expected growth in US and international markets in the current quarter.
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The dominant online video company said on Tuesday it had 74.8 million subscribers at the end of December and forecast 6.1 million more through March, fuelled by its expansion this month into virtually every country except China, where it is exploring ways to launch its service.
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Apple, which aims to begin offering the service next year, has held preliminary talks with executives from Hollywood in recent weeks to gauge their interest in spearheading efforts to produce entertainment content, Variety reported, citing sources.
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Amazon's Prime members get unlimited access to videos under its Prime Instant Video service.
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Netflix earlier said it was developing plans to launch a "modest" service in China if it can get permission to operate in the world's most populous country. Chinese consumers are used to watching entertainment for free that is either supported by ads or pirated.
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In a market where stock splits have become rarer, there may be more of this to come than just the two stocks with four-digit stock prices in the Standard & Poor's 500 index - Google and Priceline.com , which hit USD 1,000 earlier this year.
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In the best comedy series category, ABC's "Modern Family" was a return winner as the show about unconventional families won the top award for the fourth consecutive year. The television industry's top awards honored a mix of old and new shows.
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US stocks opened lower on Tuesday following comments from Germany's Chancellor that the country is opposed to phrase in a final draft for the region's summit.
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Netflix Inc and Discovery Communications Inc have reached an agreement to bring episodes of popular TV adventure shows including "Man vs. Wild" and "River Monsters" to the streaming service, according to people close to the deal.
