Netflix, which turns 26 years old this year, is looking to advertising, live events and password sharing crackdowns to power its next growth phase. The company’s 232.5 million global subscriber base makes it the world’s No. 1 paid streaming platform, a position it wants to hold, and expand, as it shifts into an era of new management under co-CEOs Ted Sarandos and Greg Peters. At a virtual presentation at Netflix’s first Upfront Wednesday, Sarandos admitted that “we have a long way to go to build scale in advertising,” but said the company intends to focus on improving that share. Continue reading Netflix Plans for Future Growth Include a Focus on Advertising

Netflix is “relieved” over a loss of nearly one million subscribers, according to The New York Times, which proclaims “disaster has been averted” in time for Q2 reporting. Despite the largest subscriber losses in the company’s 25-year history, defections fell short of the two million Netflix had projected in its Q1 guidance. Netflix, now standing at about 220.7 million subscribers globally, told investors it hopes during Q3 to reengage as many as one million of the lost, a bullish outlook considering austerity measures that included layoffs during the first half of the year. Continue reading Netflix ‘Better Than Expected’ Q2 Results Include $6B Profit

Digital-first company Moonbug Entertainment has been purchased by the newly formed and as yet unnamed venture of former TikTok CEO Kevin Mayer and fellow Disney alum Tom Staggs, with backing from private equity firm Blackstone. An aggregate of YouTube channels with a focus on children’s content — including CoComelon, Little Baby Bum and Blippi — Moonbug launched in 2018 and currently has a market value of about $3 billion. Other recent children’s IP transactions include Epic Games’ purchase of SuperAwesome in September 2020, and the $500 million July acquisition by Indian educational firm Byju of a learning platform also named Epic. Continue reading Popular Kids Content Creator Moonbug Acquired for $3 Billion

The Walt Disney Company is formalizing its efforts to leverage the power of social media influencers under a new program called the Disney Creators Lab. The initiative launches with 20 diverse influencers who have already established credibility with Disney by posting content related to the company on platforms including TikTok, Instagram and YouTube. Disney says that while there is no direct financial remuneration involved, the program will help influencers improve their skills and expand opportunities. Participants will be enrolled in weekly online Disney courses imparting techniques to promote social media more effectively. Continue reading Disney’s Creators Lab Leverages Power of Social Influencers

According to multiple sources, Amazon is currently looking to team with venue owners to sell event tickets online in a move that would provide consumers with more options and potentially loosen Ticketmaster’s hold on the lucrative business sector. The move could also generate more Amazon Prime members for the world’s largest online retailer, while introducing new merchandising opportunities for its partners. “The Seattle-based company sees the U.S. ticketing market as ripe for attack,” reports TechCrunch. “Consumers dislike ticket fees, and venue owners, sports leagues and teams want more distributors for their tickets as they seek to boost sales.” Continue reading E-Commerce Giant Amazon Looking to Offer Event Ticketing

Walmart is expanding its mobile payment service, Walmart Pay, to its entire chain of 4,600 U.S. stores. The feature can be found on the retailer’s app, which is available for Android and Apple devices. According to the company, more than 20 million consumers regularly use the app, which offers discounts and helps locate products. Walmart, which has 140 million weekly shoppers, is aiming to make the shopping and checkout experience more convenient. It is also looking to compete with companies such as Apple, Alphabet and Samsung, all of which offer ways to make mobile purchases. Continue reading Walmart Makes Mobile Payment App Available to Entire Chain

Finnish company Rovio Entertainment decided four years ago that, rather than license the “Angry Birds” characters to a Hollywood studio, it would finance its own $73 million movie. Since opening on Friday in some territories, Rovio’s gamble has thus far resulted in a $43 million gross. Companies such as Lego A/S and Hasbro turned to studios to finance their films, but Rovio took the same path Marvel did when it made “Iron Man,” with the goal of controlling the franchise over the long term. Continue reading Rovio Self-Finances ‘Angry Birds’ Movie to Control Franchise