The streaming service surprised Wall Street with huge gains in subscribers in the third quarter. The results showed why AT&T and Disney spent big on their latest acquisitions.
Cast members posted a video Wednesday announcing the series’ 2019 end, which was confirmed by a Netflix spokeswoman. In the video, the actresses thanked fans for their support and promised a fulfilling wrap-up to the comedy-drama set in a women’s prison.
WarnerMedia joins an armada of well-funded competitors looking to take on Netflix’s over-the-top dominance, but a crowded landscape may become a zero-sum game.
The video-streaming service added 7 million subscribers worldwide from July through September, far above the company’s target of 5 million and exceeding analyst projections. Investors lifted Netflix’s stock by more than 11% to $386.30 in extended trading.
Viacom is joining the battle against Netflix’s hiring practices, filing a suit that accuses the streaming service of poaching a TV production executive. In the suit filed on Oct. 5 in L.A. Superior Court, Viacom alleges that Netflix induced Momita SenGupta to breach her contract, which was not set to expire until April 21, 2020.
The streamer pays so well it’s been sued by competitors. The downside: Your co-workers can see exactly what you make.
Billionaire media mogul Barry Diller says he worries that tech companies like Amazon and Netflix are consolidating power, threatening to undermine the way the entertainment industry works.