.karaswisher on Netflix’s unparalleled position in the streaming industry: “They’re the Amazon of entertainment”
Photo: Bloomberg via Getty Images It’s not a surprise that during the coronavirus shutdown, Netflix has had its biggest quarter in history: In an earnings report on Tuesday, the streaming company announced it now has 183 million customers around the world. Back in January, Netflix said it expected to add 7 million new subscribers; in the first three months of 2020 it actually added about 16 million.
Scott Galloway: Netflix I believe is up 28 percent, year to date. So they’re obviously accelerating through the crisis. What do they do? This is a company now worth more than Disney. What they do is they either buy Spotify or they start making these massive, super interesting investments as they did in Madrid, where they have hired 10,000 creatives and they’re creating content that can be morphed into German and Norwegian and Ukrainian content really easily.
Listen to Pivot Scott and Kara on Netflix’s Reed Hastings having a huge quarter and Facebook's India investment. At first I couldn’t figure out why they were doing this to take a minority stake in a company, paying high-price lawyers to figure out a way to buy 9.99 percent of Jio Platforms, so that they didn’t trigger Indian regulatory laws. But what this looks like is basically a multibillion-dollar investment in an attempt to monetize the WhatsApp users in India.
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