Latest news with #LisaRichwine
Yahoo
6 days ago
- Business
- Yahoo
Final 'Squid Game' season lifts Netflix above earnings forecasts
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -The final season of global phenomenon "Squid Game" helped Netflix top Wall Street earnings targets for the second quarter, the streaming service said on Thursday as it raised revenue guidance for the year. Netflix posted diluted earnings per share of $7.19 for April through June. That topped the $7.08 consensus estimate of analysts polled by LSEG. The company raised revenue guidance for 2025 to $44.8 billion to $45.2 billion, citing the weakening of the U.S. dollar plus "healthy member growth and ad sales." Its previous guidance was up to $44.5 billion. For the just-ended quarter, net income came in at $3.1 billion, edging forecasts of $3.06 billion. Revenue totalled $11.08 billion, above the $11.07 billion analyst projection. Netflix released the third and final season of dystopian Korean drama "Squid Game" a few days before the second quarter ended in June. The show is the most popular non-English Netflix show in the streaming service's history. Season three racked up 122 million views, Netflix said. Other releases during the quarter included "Sirens," "The Four Seasons" and a third season of "Ginny & Georgia." The streaming video pioneer stopped disclosing quarterly subscriber numbers this year, instead urging investors to focus on profit as a measure of its success. It said member growth was ahead of its forecast but occurred late in the quarter, which limited the impact on second-quarter revenue. Netflix has been building an ad-supported service to increase revenue and reel in price-sensitive viewers. It also has added live events such as WWE wrestling to draw advertisers and viewers. Looking ahead, Netflix forecast revenue of $11.5 billion and net income of nearly $3 billion. Analysts had projected $11.3 billion and $2.9 billion. The company also has new seasons of two of its biggest shows coming later this year. "Wednesday" returns in August, and the final episodes of "Stranger Things" will be released in November and December. Netflix previously said it does not expect advertising to be a primary driver of revenue growth in 2025.
Daily Maverick
15-07-2025
- Entertainment
- Daily Maverick
‘Severance,' ‘The Penguin' lead nominations for TV's Emmy awards
'Severance' racks up 27 Emmy nods Winners will be announced in September HBO and HBO Max lead all networks By Lisa Richwine 'Severance' received a leading 27 nominations and was nominated for the top prize of best drama alongside Star Wars series 'Andor,' 'The Pitt,' 'The White Lotus' and others. 'The Penguin,' set in the DC Comics universe and starring Colin Farrell, earned 24 nominations and will compete for best limited series against Netflix NFLX.O hit 'Adolescence,' among others. Hollywood satire 'The Studio,' an Apple TV+ show starring Seth Rogen as a nervous film executive, and HBO's 'The White Lotus,' about murder and misbehavior at a luxury resort, received 23 each. Comedy nominees included defending champion 'Hacks,' previous winner 'The Bear,' 'Nobody Wants This' and 'Abbott Elementary.' The 23 nominations for 'The Studio' tied the record for a comedy in a single season, set last year by Chicago restaurant tale 'The Bear.' Winners of the Emmys will be announced at a red-carpet ceremony broadcast live on CBS PARA.O on Sept. 14. Comedian Nate Bargatze will host. The television industry is undergoing a contraction as media companies curtail the sky-high spending they shelled out to compete in the shift to streaming platforms led by Netflix. Longtime Emmy favorite HBO and the HBO Max streaming service topped all programmers with 142 nominations, a record for the network. Walt Disney DIS.N collected 136 nominations, including six for ABC's 'Abbott Elementary,' one of the few broadcast shows in the Emmy mix. 'Andor,' on Disney+, received 14. Netflix garnered 120 nods and Apple scored 81, its highest total since launching its streaming service in 2019. 'Severance' tells the story of office workers who undergo a procedure to make them forget their home life at work, and vice versa. 'It's distinctive in every way – in terms of its storytelling, in terms of style, in terms of its directing, its tone,' said Matt Cherniss, head of programming at Apple TV+. 'Every aspect of that show just resonates and the audience notices,' he added. Noah Wyle received his first Emmy nomination since 1999 for his role as an emergency room doctor on 'The Pitt.' Wyle was nominated five times for his time on 'ER' but never won. Harrison Ford, 83, earned his first Emmy nod, for playing a grumpy therapist on 'Shrinking.' Ron Howard, the former 'Happy Days' star turned Oscar-winning director, also landed his first acting nomination, a guest actor nod for playing himself on 'The Studio.' Other notable acting nominees included Farrell, 'The Bear' actors Jeremy Allen White and Ayo Edebiri, 'Hacks' stars Jean Smart and Hannah Einbinder, Kathy Bates for 'Matlock' and Pedro Pascal and Bella Ramsey for 'The Last of Us.' Eight 'White Lotus' actors were recognized. 'This is a bunch of cherries on the icing on the cake that was the gift of playing such a tortured and lonely human,' said Jason Isaacs, who portrayed a father facing financial ruin on the show. Beyonce also made the Emmys list. Her halftime performance during a National Football League game on Netflix was nominated for best live variety special. Winners will be chosen by the roughly 26,000 performers, directors, producers and other members of the Television Academy.
Hindustan Times
27-06-2025
- Entertainment
- Hindustan Times
California legislature acts to keep film and TV production at home
By Lisa Richwine California legislature acts to keep film and TV production at home June 27 - Hollywood's home state of California will more than double annual tax incentives for film and television production to $750 million under a measure passed by the Democratic-led legislature on Friday. The increase from the current $330 million was approved as part of a broader tax bill that is expected to be signed into law by Governor Gavin Newsom in the coming days. Democrat Newsom had advocated for the boost, a step to help reverse a years-long exodus of production from California to places such as Britain, Canada and other U.S. states that offer generous tax credits and rebates. Producers, directors, actors and behind-the-scenes workers have warned lawmakers that Hollywood was at risk of becoming the next Detroit, the automaking capital devastated by overseas competition, if current trends continued. Permitting data showed production in Los Angeles, the location of major studios including Walt Disney and Netflix, fell to the second-lowest level on record in 2024. California has lost more than 17,000 jobs since 2022 from its declining share of the entertainment industry, according to union estimates. Producer Uri Singer said he shot three films in New York to take advantage of its tax incentives. He received a California tax credit to shoot his current project, a horror flick called "Corporate Retreat," in Los Angeles. "You can get such good cast and crew that are available that makes shooting in L.A. financially better," he said. "Besides that, creatively you find here anyone you want, and if you need another crane, within an hour you have a crane." Plus, "the crew is happy because they go home every day," Singer added. Local advocates applauded California's expansion of tax incentives, though they said more needs to be done. Writer Alexandra Pechman, an organzier of a "Stay in LA" campaign by Hollywood workers, called on Hollywood studios to commit to a specific amount of spending in California to support creative workers. "It's time for the studios and streamers to do their part to turn this win into real change for all of us," Pechman said. Industry supporters also are pushing for federal tax incentives to keep filming in the United States. Republican President Donald Trump has offered a different way to address the issue. Trump said in May that he had authorized government agencies to impose a 100% tariff on movies produced overseas. The movie tariff has not been implemented. This article was generated from an automated news agency feed without modifications to text.
CTV News
02-06-2025
- Business
- CTV News
Disney laying off several hundred in film, TV, finance
Media company Walt Disney is laying off several hundred employees in film, television and corporate finance, a source familiar with the matter said on Monday. The layoffs affect multiple teams around the world, including film and TV marketing, TV publicity, and casting and development, the source said. Disney and other companies are reshaping their business strategies in response to the migration of cable TV audiences to streaming platforms. In 2023, Disney cut 7,000 jobs as part of an effort to save US$5.5 billion in costs. In May, Disney reported earnings that exceeded expectations with an unexpected boost from the Disney+ streaming service and strong results from theme parks. Disney shares, which have risen 21 per cent since the earnings report, were down 0.5 per cent at $112.43 on Monday. Reporting by Lisa Richwine in Los Angeles and Jaspreet Singh in Bengaluru; Editing by Arun Koyyur and David Evans.
Yahoo
26-05-2025
- Entertainment
- Yahoo
Disney's 'Lilo & Stitch' leads record box office over US Memorial Day weekend
By Lisa Richwine LOS ANGELES (Reuters) -Walt Disney's live-action remake of the animated classic "Lilo & Stitch" topped box office charts in the United States and Canada with $183 million in ticket sales over the U.S. Memorial Day weekend, according to estimates released on Monday. "Mission: Impossible - The Final Reckoning," starring Tom Cruise, was on pace to bring in $77.5 million from Friday through Monday, distributor Paramount Global said. Total sales for all films are expected to set a record for the Memorial Day weekend, box office analysts said. The previous record of $314.3 million was established in 2013, when the sixth "Fast & Furious" movie debuted. "Lilo & Stitch," the story of a mischievous blue alien taken in by two sisters in Hawaii, added $158.7 million in international markets for a global total of $314.7 million. "Mission: Impossible," the eighth installment in Cruise's action franchise, racked up $205.5 million around the world.
