Connect with us

Latest News

Hulu hits 25 million subscribers, CEO says it can catch up to Netflix

Published

on


Streaming player menu screen featuring Netflix, Amazon, Vudu, Hulu, and Redbox Instant.

Getty Images

Streaming player menu screen featuring Netflix, Amazon, Vudu, Hulu, and Redbox Instant.

Netflix has a total of 58 million U.S. subscribers. It added 1.09 million domestic subscribers in the third quarter of 2018, 674,000 in the second quarter and 1.96 million in the first quarter. It is expected to report its fourth-quarter earnings later this month.

“They are an awesome service and have great programming in certain areas,” Freer said of Netflix. “I look at where we are now, with 85,000 episodes of on-demand television, that’s twice as much as Netflix and Amazon combined.”

Both Amazon and Netflix have been spending big on original content, with the latter projected to spend a reported $13 billion in 2018.

It appears to be paying off in critical acclaim. Earlier this week, Netflix scored five Golden Globe awards, more than any other network or streaming service. Amazon won two Golden Globes for its original programming.

When asked if Hulu would spend more on content to compete, Freer replied, “We already spend a lot of money on content. And I think we will continue to invest in that.”

He also pointed to its vast library.

“We can continue to not only drive our library viewing, which we all know still makes up the bulk of everyone’s viewing in this universe, as well as continue to increase our investment in originals, look at movies as a way to drive subscriptions, as well as other verticals like food and travel, to really begin to be the choice and be a full-service television vehicle for consumers,” he said.

Hulu will be 60 percent owned by Disney, once Disney’s acquisition of 21st Century Fox is completed, 30 percent by Comcast and 10 percent by AT&T, which acquired its stake through its acquisition of Warner Media.

Netflix did not immediately respond to a request for comment.

Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.



Source link

Latest News

These stocks historically jump the most during the first earnings season of the year

Published

on

By


There are certain stocks that historically post big gains after reporting fourth-quarter earnings.

Bespoke looked back at the past eight fourth-quarter reporting periods and found stocks that jumped the most on earnings reporting day. It found 15 large caps that rose an average 3.8 percent or more.

Several stocks on the list also had bullish charts, on a technical basis, though many had negative or bearish charts, according to Bespoke. Those that looked bullish were D.R. Horton, Salesforce.com, Broadcom, Hologic and Intuitive Surgical.

Source: Bespoke



Source link

Continue Reading

Latest News

Billionaire Ken Griffin buys the most expensive home ever sold in the US

Published

on

By


Kenneth Griffin, founder and chief executive officer of Citadel LLC

David Paul Morris | Bloomberg | Getty Images

Kenneth Griffin, founder and chief executive officer of Citadel LLC

Hedge fund billionaire Ken Griffin closed a deal to buy the most expensive home ever sold in the U.S., paying around $238 million for a New York penthouse overlooking Central Park.

The deal is the largest in Griffin’s recent $700 million, global real estate shopping spree, believed to be the largest ever for a U.S. billionaire. Over the past few years, the founder and CEO of Citadel has purchased the most expensive homes in Chicago, Miami and New York. He has spent more than $200 million to buy land in Palm Beach, Florida for a home he plans to build there. And this week, news broke that he purchased a $122 million property in London, which was the most expensive sale in London in a decade.

A spokeswoman for Citadel couldn’t immediately be reached for comment.

The New York purchase, first reported by CNBC in 2015 when it went into contract, covers several floors of the new 79-story condo tower known as 220 Central Park South. The apartment covers four full floors and is around 24,000 square feet with stunning views of Central Park, according to real estate experts. Griffin bought the space raw, which means that even after paying $238 million, Griffin will likely spend millions more to design, build and furnish the home.

The deal eclipses the current record for the most expensive home sold in the U.S. — the $147 million paid by hedge fund manager Barry Rosenstein for an estate in East Hampton, New York in 2014.

With new condo towers, like 220 Central Park South, buyers sign a contract while the building is under construction, and officially close on the deal when the building is finished.



Source link

Continue Reading

Latest News

Jamie Dimon predicted bitcoin’s nosedive, but isn’t celebrating it

Published

on

By


Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019.

Adam Galica | CNBC

Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019.

The bitcoin price bubble has burst but JP Morgan Chase‘s Jamie Dimon isn’t taking a victory lap.

The CEO was among the first and loudest on Wall Street to warn against the cryptocurrency, calling it a “fraud” and warning investors that if they were “stupid enough to buy it” they would “pay the price one day.”

When asked if he took any satisfaction in being right after bitcoin dropped 80 percent, Dimon told CNBC at the World Economic Forum in Davos he “didn’t take any.”

Still, Dimon is advocating for its underlying technology, blockchain. Despite its own level of corporate hype, he said it’s not the perfect fit to disrupt things like equity trades. It’s a better replacement for certain online databases, he said.

“Blockchain is a real technology — it’s just a database we can all access that’s kept up-to-date,” Dimon told CNBC’s Squawk Box.

J.P. Morgan is using the technology, which gets rid of the need for a third party intermediary by creating a permanent, open record of all transactions on a network. Buyers and sellers can interact directly and have their exchange recorded on a what’s known as a “distributed,” or blockchain ledger.

In October 2017, J.P. Morgan Chase announced a blockchain-based system that will “significantly reduce” the number of parties needed to verify global payments, reducing transaction times “from weeks to hours.” Royal Bank of Canada and Australia and New Zealand Banking Group are among the bank’s partners in the project.

Corporate giants Amazon, Facebook, and IBM are among the many others exploring blockchain use cases.

Bitcoin meanwhile has failed to stage a recovery. Since its peak in December 2017, the cryptocurrency has fallen 82 percent, according to data from CoinDesk. It has dropped roughly 75 percent over one year, and was trading near $3,570 on Wednesday.



Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.