Netflix had 1.54 million paid net additions in Q2, beating the guidance of 1 million in its April 20 forecast, it reported Tuesday. COVID-19 “has created some lumpiness in our membership growth (higher growth in 2020, slower growth this year), which is working its way through,” said its shareholder letter. Asia Pacific generated about two-thirds of the global paid net adds growth in the quarter, it said.
Nexstar's NewsNation cable network is nearly tripling the amount of news, analysis and talk, going from 19 to 55 hours weekly starting Sept. 27, it said Monday.
Connected TV (CTV) is one of the fastest growing segments of the advertising market, Canaccord wrote investors Monday, citing strong advance commitments from the upfront marketplace. Legacy media companies with ad-based VOD platforms are bundling premium CTV ad placements with linear TV inventory for large advertisers, it noted. CTV advertising demand has caught up with supply growth for the first time in several years, resulting over recent months in low-double-digit growth in cost per thousand impressions, it said. Independent measurement and verification have become increasingly important for premium digital video advertising, with only about 70% of video placements viewable, it said. That makes DoubleVerify and Integral Ad Science “a critical part of the advertising tech stack.”
The Tokyo Olympics look to be among the least-watched recent Summer Games, reported Zeta Friday. The marketing tech company canvassed 2,000 U.S. adult consumers, finding 45% aren't looking forward to the event and 17% undecided if they will tune in. Generation Z and younger millennials had the highest interest. Among women, 48%, said they were interested in watching, compared with 41% of men.
The comment and reply deadline for updating the 2018 quadrennial review is extended one month, to Sept. 2 and Oct. 1, said an FCC Media Bureau public notice Friday on docket 18-349. It cited a request by Common Cause, Free Press, the Multicultural Media, Telecom and Internet Council, National Association of Black Owned Broadcasters and NAB (see 2107130055).
Cinedigm “successfully completed” moving from a “legacy” digital cinema equipment business to “high-growth independent streaming,” CEO Chris McGurk told a call for fiscal Q4 ended March 31. There’s a “huge potential market for our portfolio of enthusiast streaming channels,” said McGurk Wednesday. “This strategy and our channels are perfectly complementary to the big general entertainment subscription services like Disney+ and Netflix.” Cinedigm will soon launch the Elvis Presley Channel as an ad-supported VOD and linear streaming service in partnership with Elvis Presley Enterprises, said Cinedigm Networks President Erick Opeka. Cinedigm distributes 16 “enthusiast” streaming channels through 31 platforms, including TCL, Roku and Vizio, said Opeka.
Starz signed a multiyear agreement with Universal for the studio’s U.S. live-action films to become available exclusively across Starz platforms in the post pay-one window immediately after their pay-one windows, it said Thursday. The deal, which includes the Jurassic World franchise, wraps in select Universal library movies and titles from Focus Features and Blumhouse.
Netflix is in for another quarter of “modest subscriber growth” when it reports Q2 results July 20, Canaccord Genuity wrote investors Wednesday. Net subscriber additions slowed due to the “strong pull-forward” of subscription VOD adoption during 2020's first half, when the company added 26 million new accounts, it said. “Investors likely will be focused on how much this metric can rebound during 2H21 as consumer behavior normalizes and the release schedule strengthens,” after months in which COVID-19 halted content production, the analyst firm said: “We expect the return of numerous popular original series and a slew of new titles across genres and formats to drive a notable uptick in subscriber acquisition.” Netflix's April 20 projection expected 1 million paid net adds for Q2, compared with 15.77 million in the 2020 quarter, when most of the world went into lockdown.
The FCC should grant an extension of commenting deadlines for refreshing the record on the 2018 quadrennial broadcast ownership review, said a filing in docket 18-349 from Common Cause, Free Press, the Multicultural Media, Telecom and Internet Council, National Association of Black Owned Broadcasters and NAB. Comments are due Aug. 2, replies Aug. 30, and the groups want the deadlines extended to Sept. 2 and Oct.1. “The proceeding raises many complex legal and economic issues that the Joint Filers will want to address through research, updates to previously filed material, and new information,” they said.
About 3.2 million consumers went to the movies Thursday-Sunday at AMC Theatres locations, setting a new “post-reopening weekend attendance record,” said the theater chain Monday. The figure included more than 2.5 million who went to AMC U.S. theaters, it said. Disney’s Black Widow grossed an estimated $80 million for its opening weekend in the U.S. and Canada, breaking the previous post-reopening record set by Universal’s F9 two weekends earlier, said AMC. Black Widow debuted simultaneously as a $29.99 premier access streaming option on Disney+.