Latest news with #LosGatos-based
The Star
18-05-2025
- Entertainment
- The Star
Netflix is about to look a lot different for viewers. Here's how
With a revamped homepage, Netflix is rolling out several new features aimed at making it easier to navigate its massive library of films and series. — Photo: Daniel Reinhardt/dpa LOS ANGELES: Netflix has announced it is rolling out a new look and a series of additional features to its TV homepage, as the streamer continues to build its stable of film and TV programming, live events and games. When customers open the revamped homepage, it will show additional information about titles, such as "Emmy Award Winner" and "#1 in TV Shows." Netflix is also introducing motion techniques to keep the images of its programs "fluid and snappy," which may feature live events that viewers might be interested in. The revamp is meant to make the platform more engaging for viewers, while making it easier to navigate Netflix's massive library of titles. As entertainment companies like Disney, Warner Bros. Discovery, Paramount and YouTube compete for eyeballs, it's become ever more important for streamers to build apps that are attractive and easy to use – one of the underrated elements of the streaming wars. Clunky user interfaces and challenges with content "discoverability" – i.e., trying to find something to watch in a bottomless digital well of shows – are some of the main things consumers complain about when using streaming services. Los Gatos-based Netflix said the rollout will take place globally over the next few weeks starting May 19. "Our members do a lot of eye gymnastics when they're scrolling down and right and going back and forth between rows and title details on the homepage," said Chief Product Officer Eunice Kim in a press briefing on Tuesday. "We're putting all the information you need to make an informed choice about what to watch front and centre." Netflix said it is also testing a way for customers to search for title recommendations using artificial intelligence technology. Customers who choose to opt in on Apple devices can type, "I want something funny and upbeat," and the search tool will suggest titles that match the description. OpenAI is providing some of the capabilities for the generative AI search function, Netflix said. The streamer also said it is testing a vertical video feed on mobile devices, where it will show clips of Netflix programs that customers can tap to watch the whole show or movie immediately, add it to their list to watch later or share the title with friends. Vertical video has become a prevalent way that people watch content on phones with the rise of TikTok, which was followed by the likes of Instagram Reels and YouTube Shorts. Late last year, Netflix said it released a mobile feature that lets members save, rewatch and share moments from their favourite shows and it'll be investing more in that space in the coming months. The top saved scene was the kiss from Vi and Caitlyn in Season 2 of "Arcane," Kim said. "All of these features are about getting people to press play and stay because when you find a title you love, you're more likely to tell your friends about it, which drives more people back to Netflix, who then press play, watch, spread the word, and on it goes, and none of it would be possible without great technology," Kim said. – tca/dpa
Yahoo
18-04-2025
- Business
- Yahoo
Netflix posts strong earnings despite economic headwinds
Rising economic uncertainty amid a global trade war did little to dampen Netflix's financial results in the first quarter. The Los Gatos-based streaming giant said its first quarter revenue grew 13% to $10.5 billion, fueled by membership growth and higher prices. Net income jumped 24% to $2.89 billion in the quarter, well ahead of the $2.48 billion that analysts had forecast, according to FactSet. The robust growth provided further evidence of Netflix's dominance in the streaming market during an uncertain economy. On Thursday, Netflix executives projected confidence about the company's ability to weather tariff-fueled economic concerns, noting that its low-cost ad plan gives consumers options, that its engagement is still strong and that it produces content and has viewers throughout the world. 'We're paying close attention, clearly, to the consumer sentiment and where the broader economy is moving, but based on what we are seeing by actually operating the business right now, there's nothing really significant to note," Netflix co-Chief Executive Greg Peters said during an earnings video interview. "Stepping back, we also take some comfort in the fact that entertainment, historically, has been pretty resilient in tougher economic times.' Analysts, too, felt that Netflix's market position could give them more of a cushion. "In times when consumers may be scrutinizing their spending on streaming services, expert sentiment remains consistent: Netflix will continue to be the default platform and the last to be cut by the vast majority of users," said John Conca, an analyst at investment research firm Third Bridge. Netflix stock rose 1% on Thursday, closing at $973.03 a share. Read more: WWE begins its Netflix era after years of controversy, drama and ratings Earlier this year, Netflix raised prices on certain subscription plans in the U.S., including for its lower cost ad-supported plan, which has been growing. During the first quarter, Netflix became home to "WWE Raw," which analysts said helped boost the streamer's advertising and drew significant viewership. Some analysts said they believe Netflix will weather any pullback in the advertising market caused by global trade disputes. Netflix launched its cheaper ad-supported tier in 2022 and it is still a small, but growing, part of its business. "Because Netflix relies on advertising less than most of its competitors do, in some ways it will be less exposed to tariffs that constrict upfront commitments," said Ross Benes, senior analyst at research firm EMarketer. "I don't think the macro economic problems the world is facing are going to hit them." Read more: Using one-shots, 'Adolescence' effectively portrays a powerful story Read more: Netflix had a record-breaking quarter. Here come the price hikes Programs that Netflix launched in the first quarter included limited series drama "Adolescence," about a 13-year-old boy suspected of murdering his classmate. The series has drawn 124.2 million views so far and is ranked third in Netflix's most popular English language shows of all time, surpassing the first season of Regency romance series "Bridgerton." The Jamie Foxx and Cameron Diaz-led spy comedy "Back in Action" was also a hit for the streaming service, garnering 146 million views and making it Netflix's 6th most popular English language film ever. Other shows that launched in the first quarter included the Shondaland mystery series "The Residence," reality TV program "Million Dollar Secret," Kate Hudson comedy series "Running Point" and romance movie "The Life List." "We're executing on our 2025 priorities: improving our series and film offering and growing our ads business; further developing newer initiatives like live programming and games; and sustaining healthy revenue and profit growth," Netflix said in a letter to shareholders on Thursday. Last year, Netflix said it had more than 301 million subscribers. Company executives also addressed a recent report in the Wall Street Journal that Netflix had internal financial goals of reaching a $1 trillion market capitalization and doubling its revenue by 2030. Netflix co-Chief Executive Ted Sarandos acknowledged the report, saying that on "rare and very disappointing occasions," the company's "confidential and internal discussions can leak into the press." "We often have internal meetings and we talk about long term aspirations, but it's important to note that this is not the same as forecast," he said during an investor presentation. "Our operating plans is the same as our external forecasting guidance. We don't have a five year forecast or five year guidance, but you can assume that we're long-range thinking." Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times. Sign in to access your portfolio
Los Angeles Times
17-04-2025
- Business
- Los Angeles Times
Netflix posts strong earnings despite economic headwinds
Rising economic uncertainty amid a global trade war did little to dampen Netflix's financial results in the first quarter. The Los Gatos-based streaming giant said its first quarter revenue grew 13% to $10.5 billion, fueled by membership growth and higher prices. Net income jumped 24% to $2.89 billion in the quarter, well ahead of the $2.48 billion that analysts had forecast, according to FactSet. The robust growth provided further evidence of Netflix's dominance in the streaming market during an uncertain economy. 'In times when consumers may be scrutinizing their spending on streaming services, expert sentiment remains consistent: Netflix will continue to be the default platform and the last to be cut by the vast majority of users,' said John Conca, an analyst at investment research firm Third Bridge. Netflix stock rose 1% on Thursday, closing at $973.03 a share. Earlier this year, Netflix raised prices on certain subscription plans in the U.S., including for its lower cost ad-supported plan, which has been growing. During the first quarter, Netflix became home to 'WWE Raw,' which analysts said helped boost the streamer's advertising and drew significant viewership. Some analysts said they believe Netflix will weather any pullback in the advertising market caused by global trade disputes. Netflix launched its cheaper ad-supported tier in 2022 and it is still a small, but growing, part of its business. 'Because Netflix relies on advertising less than most of its competitors do, in some ways it will be less exposed to tariffs that constrict upfront commitments,' said Ross Benes, senior analyst at research firm EMarketer. 'I don't think the macro economic problems the world is facing are going to hit them.' Programs that Netflix launched in the first quarter included limited series drama 'Adolescence,' about a 13-year-old boy suspected of murdering his classmate. The series has drawn 124.2 million views so far and is ranked third in Netflix's most popular English language shows of all time, surpassing the first season of Regency romance series 'Bridgerton.' Other shows that launched in the first quarter included the Shondaland mystery series 'The Residence,' reality TV program 'Million Dollar Secret,' Kate Hudson comedy series 'Running Point' and romance movie 'The Life List.' 'We're executing on our 2025 priorities: improving our series and film offering and growing our ads business; further developing newer initiatives like live programming and games; and sustaining healthy revenue and profit growth,' Netflix said in a letter to shareholders on Thursday. Last year, Netflix said it had more than 301 million subscribers.
