|Bid||0.0000 x 800|
|Ask||0.0000 x 1300|
|Day's range||0.0000 - 0.0000|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||0.00|
|Earnings date||12 Feb 2020 - 17 Feb 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||46.98|
Needham and Co analyst Laura Martin said rising competition from Disney+ and Apple could cause the streaming giant to lose 4 million U.S. subscribers in 2020.
(Bloomberg) -- Facebook Inc. is not backing down on its policy to show political ads, even after competitors have made changes amid concerns that tech platforms allow politicians to amplify misleading messages.In a briefing to reporters in Brussels, Nick Clegg, the company’s vice president for global affairs and communications, said Facebook wouldn’t follow its competitor Twitter Inc. in shunning political advertisements from its platform.Clegg said Facebook has proven to be an “extremely important instrument by which democratic debate is enriched” by lending a voice to politicians that challenge incumbents. The former U.K. deputy prime minister added that there’s “a strongly-held view in the company that it’s a legitimate use of our platform.“Mark Zuckerberg, the company’s chief executive officer, separately told CBS News in an interview to air Dec. 3 that it’s important that people “can see for themselves what politicians are saying.”Twitter in October said it would ban political ads, with the exception of some “cause-based” ads for certain issues, while Alphabet Inc.’s Google in November said it would severely limit how political advertisers can target people online. Some news outlets reported in November that Facebook was also mulling changes to its ads policy, including to limit the level of detail political campaigns or groups can use to target voters.Responding to the reports, Clegg said Monday it had looked at both Twitter and Google’s changes to their ads policies and could consider enhancements and improvements in the future, but that the “fundamental architecture of our approach to allow political ads” won’t change.The Facebook executive said the decision wasn’t commercial, adding that political ads would likely make up less than 0.5% of the company’s total revenues next year.Zuckerberg has come under fire for his position because it means politicians can publish lies or misinformation on the social network and pay Facebook to spread those messages to voters. President Trump’s campaign has already taken advantage of the policy by running recent ads claiming Democratic front-runner Joe Biden bribed Ukrainian officials -- claims that have been debunked.Separately, Facebook on Monday also announced a limited trial of a new tool that will allow users to transfer their Facebook photos and videos to other services, starting with Google Photos. All data transferred will be encrypted and any initiation of transfers will require users to enter their password, Facebook said.The announcement comes as the social media giant’s data practices is under heavy scrutiny in Europe, from both privacy and competition regulators.“The pressure from regulators in the name of competition is to allow data to walk about a bit more,” Clegg said, adding that making data more portable also posed new privacy risks of their own. “The more you move stuff around the more of it can get lost and exposed.”To contact the reporter on this story: Natalia Drozdiak in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Some customers who signed up for Walt Disney Co.’s new Disney+ streaming service have seen their usernames and passwords sold online to third parties and have been locked out of their newly opened accounts.Disney said its system hasn’t been hacked and that it’s working to quickly address the issue. It’s possible that hackers obtained the names and passwords from data breaches at other companies.“Disney takes the privacy and security of our users’ data very seriously, and there is no indication of a security breach on Disney+,” the company said in a statement.Disney+ is the company’s effort to build a direct connection to consumers, as many people shift to watching movies and shows on demand rather than on cable and satellite TV. The $7-a-month service launched a week ago and quickly signed up more than 10 million customers, a number far exceeding predictions.Still, the debut was marred by many complaints from customers who couldn’t log on or had trouble watching programs. But the number of gripes collected by the website Downdetector has dropped sharply over the past week and now amounts to just a few dozen.Growing ExposureSpeaking at the Code Media conference in Los Angeles on Tuesday, Disney’s direct-to-consumer chief blamed the initial troubles on faulty coding in the app that the company is working to fix. Kevin Mayer said Disney executives were “very surprised” by the number of people who subscribed.The sign-up process was complicated, he said, because some customers already had subscriptions to Disney services such as Hulu and wanted to add the new one. Many customers also forgot they already has Disney accounts.“Not only was it huge demand, but the complexity,” Mayer said. “If you were a current subscriber, how does it work? Those were legitimate questions.”While Disney has long collected customers’ names and passwords for its theme parks and online games, the expansion into online video on a global basis brings the potential for more technology snafus.ZDNet reported over the weekend that Disney+ users’ accounts were being put up for sale on hacking forums within hours of the service’s launch at prices of $3 to $11 each. Some customers reported they had used old passwords, but others said they hadn’t, according to the website.While there may be few thousand compromised Disney accounts, that’s small compared with the hundreds of thousands of usernames and passwords on the black market hijacked from platforms like Hulu, Netflix and HBO, said Andrei Barysevich, chief executive officer and co-founder of the security firm Gemini Advisory.‘Very Effective’Reusing names and password combinations from previous attacks at other sites can be a “very effective method” for hackers, he said.“This is one of the biggest problems, not just streaming services, but pretty much every e-commerce business has been battling for the last couple of years, because there’s an abundance of compromised emails and passwords on the dark web,” Barysevich said.At Code Media, a conference for media executives, operators of rival services praised the Disney+ launch. David Nevins, chief creative officer at CBS Corp., called the sign-ups “impressive,” while AT&T Inc. President John Stankey said that while Disney+ “was off to a good start,” keeping customers happy and subscribed will be an ongoing issue.“How many of the 10 million customers are there six months from now?” Stankey asked. “It’s managing churn.”(Updates with executive comments starting in sixth paragraph)To contact the reporters on this story: Christopher Palmeri in Los Angeles at firstname.lastname@example.org;Kiley Roache in New York at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CBS NFL broadcaster James Brown says Colin Kaepernick's workout this weekend is a chance for him to prove he can still play in front of NFL scouts.