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takyon writes:

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.

Related: Netflix to Raise Another $1.6bn to Finance New Films and Shows
Netflix Beats Wall Street Expectations on Subscriber Growth, Reaches $100 Billion Market Cap
Netflix Won't be Going to Cannes After All
Netflix Shares Plunge as Subscriber Growth Rate Stalls
Netflix Will Now Interrupt Series Binges With Video Ads for its Other Series
Local Product Quotas for Netflix, Amazon to Become Law, EU Official Says
Animated "Diablo" Series Reportedly Coming to Netflix
Netflix Buys ABQ Studios in Albuquerque, New Mexico

Original Submission

1. "takyon" - https://soylentnews.org/~takyon/
2. "Netflix burns cash at a record pace, but investors love it" - https://www.cnbc.com/2018/10/17/netflix-free-cash-flow-q3-2018-negative-859-million.html
3. "spend at least $8 billion on content in 2018" - https://www.cnbc.com/video/2018/02/28/netflix-plans-to-spend-more-than-8-billion-on-content-in-2018.html
4. "criticized the EU's local content quotas" - https://www.theverge.com/2018/10/16/17986086/netflix-third-earnings-report-european-union-content-quote-international
5. "used its third quarter earnings report" - https://s22.q4cdn.com/959853165/files/doc_financials/quarterly_reports/2018/q3/FINAL-Q3-18-Shareholder-Letter.pdf
6. "MarketWatch" - https://www.marketwatch.com/story/netflix-downgraded-at-keybanc-due-to-pace-of-spend-and-length-of-time-for-a-return-2018-10-17
7. "Netflix to Raise Another $1.6bn to Finance New Films and Shows" - https://soylentnews.org/article.pl?sid=17/10/24/180223
8. "Netflix Beats Wall Street Expectations on Subscriber Growth, Reaches $100 Billion Market Cap" - https://soylentnews.org/article.pl?sid=18/01/24/0425214
9. "Netflix Won't be Going to Cannes After All" - https://soylentnews.org/article.pl?sid=18/04/12/1850259
10. "Netflix Shares Plunge as Subscriber Growth Rate Stalls" - https://soylentnews.org/article.pl?sid=18/07/18/0056224
11. "Netflix Will Now Interrupt Series Binges With Video Ads for its Other Series" - https://soylentnews.org/article.pl?sid=18/08/19/0822247
12. "Local Product Quotas for Netflix, Amazon to Become Law, EU Official Says" - https://soylentnews.org/article.pl?sid=18/09/04/1152205
13. "Animated "Diablo" Series Reportedly Coming to Netflix" - https://soylentnews.org/article.pl?sid=18/09/24/1641218
14. "Netflix Buys ABQ Studios in Albuquerque, New Mexico" - https://soylentnews.org/article.pl?sid=18/10/09/2032216
15. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=29616

printed from SoylentNews, Netflix Burns More Cash, Set to Spend $8 Billion on Original Content in 2018 on 2023-05-26 15:47:08