Netflix underperforms in Q3 earnings, suggests interest in news content

Even Netflix isn’t perfect. On Wednesday, the company released its Q3 earnings report and measuring the period from July 1-September 30, the report documented the addition of 880,000 US subscribers – short of Netflix’s projection of 1.25 million. Netflix did add 2.74 million overseas subscribers, better than projected. CEO Reed Hastings and CFO David Well attributed the loss to “slightly higher-than-expected involuntary churn (inability to collect)…driven in part by the ongoing transition to chip-based credit and debit cards.” According to Netflix, the new cards, designed to fight fraud, often have a new number or expiration date, requiring subscribers to update their payment info, which many failed to do. Netflix shares fell 14% in after-hours trading following the release, but they have since largely rebounded.

Related Stories

David Cassidy in critical condition

David Cassidy in critical condition

Former teen idol David Cassidy is in critical condition at a Florida hospital, suffering liver and kidney failure. The troubled Partridge Family star, 67, had struggled with a drinking problem and this year said he was suffering from dementia. Later in his career, Cassidy starred in ABC Family comedy Ruby & The Rockits in 2009, […]

We Can Help

We Can Help

Job of the Week DIRECTOR, AUDIENCE ENGAGEMENT & SOCIAL MEDIA CMT Nashville Lead all audience engagement & social media efforts, supporting the CMT linear TV network, incl launching/sustaining orig series, and active management of external partners. 7+ yrs escalating exp mktg, SM, PR or comm. Full info/apply HERE CynopsisJOBS […]

MORE NEW JOBS!

MORE NEW JOBS!

Job of the Week DIRECTOR, AUDIENCE ENGAGEMENT & SOCIAL MEDIA CMT Nashville Lead all audience engagement & social media efforts, supporting the CMT linear TV network, incl launching/sustaining orig series, and active management of external partners. 7+ yrs escalating exp mktg, SM, PR or comm. Full info/apply HERE CynopsisJOBS […]

TV Land cancels Lopez and Throwing Shade

TV Land cancels Lopez.

TV Land has cut ties with two more original series, canceling Lopez after two seasons and late-night comedy Throwing Shade after one. In addition, the Melissa McCarthy and Ben Falcone-produced comedy, Nobodies, is moving to flagship Viacom scripted brand Paramount Network.

Julianne Hough lands pilot at Fox

Julianne Hough lands pilot at FOX.

FOX issued a put pilot order for comedy One Hit Wendy. Julianne Hough (Dancing With the Stars) stars as a singer who peaked at 18 and is now trying to guide her talented niece through the music biz.

CynCity

Cynsiders

Instagram