Netflix shares jumped after hours after beating subscriber estimates, and that's good news for its legacy media competitors such as Disney.
had also transformed their businesses to revolve around streaming, so their stocks fell dramatically too.
Media companies still duke it out for hit shows, advertising dollars and, ultimately, eyeballs. But imagine what would happen on Earth when facing an apocalypse: Land wars would become less important. They might even stop. The threat of mass destruction becomes the common enemy.suggests. Netflix added 7.7 million streaming subscribers in the fourth quarter, blowing out analyst estimates, which were closer to 5 million. Netflix's shares rose more than 6% after hours.
Previously, great news for Netflix was bad news for legacy competitors competing with Netflix. Those days are over. Now, the industry bands together. Disney, Comcast, Paramount Global and Warner Bros. Discovery all rose slightly after Netflix's report.Media companies have, at least momentarily, found themselves fighting against a common enemy – streaming subscriber fatigue. Wall Street doesn't like sagging growth.
Netflix's big quarter doesn't yet include results from forcing password sharers to pay, a process that will kick into gear soon. That's more good news for Netflix and the industry at large, which can follow Netflix's lead.
The old media world was defined by Netflix disrupting the legacy industry. Now, as Netflix goes, so goes the media world. A band of brothers. Sort of.Watch CNBC's full Netflix earnings discussion with Trivariate's Adam Parker, Odyssey's Jason Snipe and Hightower's Stephanie Link
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
NY/NJ students headed to Disney World for Disney Dreamers Academy - New York Amsterdam NewsFive local high school students from New York and New Jersey are preparing for the 16th annual Disney Dreamers Academy March 23-26 at the Walt Disney World Resort in Florida.
Leer más »
Disney and Pixar Movies Get Disney100 Edition Steelbooks and Slipcover SetsBeloved Disney and Pixar classics get new Disney100 Edition 4K steelbooks and Blu-ray slipcover sets:
Leer más »
Channing Tatum Developing ‘Ghost’ Remake, Talks Gambit Fate Following Disney’s Acquisition of 21st Century FoxThe actor also opened up about why he asked to be killed off in 2013's 'G.I. Joe: Retaliation' and how 'Magic Mike's Last Dance' will center women differently than the first two films.
Leer más »
Ousted Disney CEO Bob Chapek will get $20 million exit pay | CNN BusinessOusted Disney chief executive Bob Chapek is set to receive a hefty paycheck following his exit.
Leer más »