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from the and-I-thought-a-night-out-at-the-movies-was-expensive dept.
Netflix burns cash at a record pace, but investors love it
In its third quarter earnings statement on Tuesday, the company reported negative free cash flow of $859 million, the biggest figure in its history. Netflix continues to increase spending on original content as it seeks to compete with other players like Hulu, HBO and planned streaming services like Disney's, scheduled for next year. Netflix will reportedly spend at least $8 billion on content in 2018.
It would be a shame if someone were to pirate or illicitly stream that content.
Netflix has criticized the EU's local content quotas:
Netflix used its third quarter earnings report to criticize the European Union over a new content quota for streaming services. The EU, writes Netflix CEO Reed Hastings in the report, is "currently rewriting its audio visual rules" that will demand streaming services like Netflix "devote a minimum of 30 percent of their catalog to European works." Netflix's report acknowledged that catering to a specific audience encouraged more regional original programming for international audiences, but suggested that enforcing quotas on a streaming service could have unwanted negative effects.
Netflix is already set to spend $1 billion on European content this year.
Also at MarketWatch.
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(Score: 0) by Anonymous Coward on Thursday October 18 2018, @05:33PM (2 children)
Well, it CAN, but it wont.
They could stream everything on the face of the earth if they wanted to pay for the storage and licensing costs.
(Score: 2) by hendrikboom on Thursday October 18 2018, @09:39PM (1 child)
Except it Europe doesn't have enough movies, they'll have to restrict nonEuropean movies in order for Europe to get its 30% local content.
(Score: 0) by Anonymous Coward on Saturday October 20 2018, @12:48PM
This was the conspiracy theory touted locally about why Australians are blocked from seeing too much American content. Must keep those local programming ratios up! Oh, there simply isn't enough local content, cull the overseas crap!