|Bid||339.50 x 900|
|Ask||339.49 x 900|
|Day's range||337.38 - 341.56|
|52-week range||252.28 - 385.99|
|Beta (5Y monthly)||1.29|
|PE ratio (TTM)||108.83|
|Earnings date||20 Jan 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||363.88|
Netflix is set to report its Q4 fiscal 2019 earnings results after the closing bell on Tuesday, January 21. The streaming TV giant's stock price has climbed over the last several months but Wall Street is worried about Netflix's growing competition...
The collaboration with Louis-Dreyfus is likely to provide an impetus to Apple's (AAPL) original content expansion strategy to penetrate the increasingly crowded streaming space.
(Bloomberg Opinion) -- When he lands in Davos, Switzerland, for the World Economic Forum, Brazilian Economy Minister Paulo Guedes is expected to tell the captains of global enterprise that the worst is over for Latin America’s signature economy and that God, once again, is Brazilian. The problem is what some Brazilians are doing in His name.Ask the guys at Porta dos Fundos, the irreverent comedians who released a Yuletide parody on Netflix featuring a gay Jesus. They saw their Rio de Janeiro studios firebombed on Christmas Eve by a gang claiming to have heard the call of the Lord. Now they can’t go anywhere without 24-hour armed guard.Such violent choler is odd in Brazil and unheard of since the return of democracy 34 years ago. But with the economy torpid and politics polarized, the conviviality and tolerance Brazilians once took pride in are crumbling. The revanchist political establishment now in charge has emboldened the general fury, too often through shameless appeals to the most obscurantist doctrine.This shifting sentiment has placed some of Brazil’s rising Protestant evangelicals on the front lines of the culture wars. With little use for the identity politics and rainbow sensibilities of the liberal order, ambitious pastors and their sponsors in public office seem hell-bent on engineering a social collision.“Even in the most conflagrated times, Brazilians always preserved a tradition of mutual tolerance and concord that has kept the national conversation civil and prevented political violence,” said Bolivar Lamounier, director of Augurium, a Sao Paulo political consultancy. “But with the corruption that has destroyed political parties, fringe movements have grown and we’ve lost that attribute.”This dalliance between power and proselytism isn’t entirely new. Ever since the first Portuguese voyagers stuck a cross in the sand five centuries ago, religion and politics have sailed together in Brazil. The republican elite that toppled the Brazilian monarchy in the late 19th century – so, theoretically separating church and state – were devout Positivists. Conservative Catholic bishops drummed up popular support for the 1964 military coup. Yet faith and public policy arguably have never been so deliberately entwined as now, and that’s a big problem.Check in with Guedes’s technocrats. Even as they toiled to fix the fiscal mess that engulfed Brazil in its worst recession since World War II, they were blindsided early this year by President Jair Bolsonaro’s draft executive order to subsidize electricity for religious institutions. Brazil’s fast-talking evangelical preachers, who keep the lights blazing and air-conditioning roaring in their megachurches day and night, were delighted. But a public backlash by taxpayers — who would have been out $7.5 million a year for the so-called “electricity tithe” — forced Bolsonaro to back down.That was just Bolsonaro’s latest sally in his mission to launch faith-based politics, “delouse” (his campaign mantra) public service of godless lefties and replace them with conservative acolytes. Consider his pick for the secretariat for women, children and human rights, Damares Alves, an evangelical preacher, whose doctrinal prescription for stopping the spread of sexually transmitted diseases among youth is abstinence. The job description for the new head of the National Cinema Agency? A good Christian capable of declaiming “200 verses of the bible.” And who will get the nod for the next Supreme Court vacancy? Someone “terribly evangelical,” Bolsonaro assured evangelical lawmakers last year. After all, he added, “we are terribly Christian.”Raised as a Roman Catholic, Bolsonaro has long courted the emerging Protestant hierarchy. In 2016, as he prepared for his presidential run, he was baptized by a Brazilian evangelical pastor in the River Jordan. Religiosity has been central to his political brand. He had no qualms about enlisting heads of evangelical churches to collect the nearly 500,000 signatures required to validate his new political party, Alliance for Brazil.Whether out of conviction or calculation, his conversion resonated with the mostly conservative, family-values defending Brazilian middle classes who have filled the Protestant pews. Evangelicals now represent an estimated 30% of the population. Compare that with self-identified Catholics, once an overwhelming majority, now numbering just 51% of the population. With atheists and non-believers also on the rise, some analysts project a non-Catholic majority this decade.As evangelical congregations have grown, so have their pastors’ ambitions. Neon-lit storefront temples spread like food trucks, especially in poorer neighborhoods where the scarcer Roman Catholic churches and their duller masses have lost allure. Gospel radio is booming. The nation’s second largest broadcaster, Record Network, belongs to Edir Macedo, founder of the aggressive Neo-Pentecostal order, the Universal Church of the Kingdom of God.No respectable politician can hope to win election without the blessing of headline evangelical pastors. Bolsonaro draws his most fervent support from the Bible caucus, a loose coalition of evangelical lawmakers that holds about a fifth (or more, according to the most ardent believers) of the national congress.Yet what evangelicals as a group want is less clear. Though often conflated with the Brazilian right wing, evangelicals represent many churches and a broad political spectrum. Consider former presidential hopeful Marina Silva, a soft socialist and former environment minister, who clashed with Bolsonaro for his misogynist cant during the 2018 election and branded him an environmental predator. Many mainstream Protestants also look askance at Bolsonaro’s pro-gun policies, his sometimes scatological outbursts and his two divorces.In that respect, evangelicals may not be so much the vanguard of Brazil’s new conservatism as its most visible symptom. “The evangelical churches have moved to the right just as Brazilian society has moved to the right,” Edin Sued Abumanssur, who studies the sociology of religion at Sao Paulo’s Catholic University, told me.Still, evangelical leaders see something more in Bolsonaro’s rise — a chance to enhance their cachet. “They have no overarching vision or project for Brazil, just a generally shared moral sensibility. They want influence, to occupy choice jobs and to convert everyone to the faith,” said Abumanssur. “That leaves them at the mercy of the prevailing political winds, and for the moment, the wind is blowing to the right.”Weather-vane politics may not be all bad. Most churchgoing Brazilians are too busy making ends meet to make holy war, an imperative that could help curb political extremism in the pews and on the street. Bolsonaro’s firing of his special culture secretary, who unleashed a public scandal by paraphrasing Goebbels on social media to the strophes of Wagner, suggests that even provocateurs understand reputation risk. The danger is that bottom-feeding ideologues make things worse by weaponizing religious convictions for partisan gain. Witness the exalted gang of believers who answered last Christmas’s Netflix spoof with Molotov cocktails. “Brazil has men, machos to stand up for Jesus Christ and the Brazilian homeland,” boasted one of the attackers in a video he posted on social media after fleeing to Moscow a step ahead of the police. (One doubtless unintended consequence for the comedy troupe was a windfall in viewers.) Neither Bolsonaro nor Justice Minister Sergio Moro said a word about the criminal attack (although Bolsonaro’s son and closest adviser, Eduardo, called the film “garbage”). Brasilia has yet to demand the extradition of the fugitive arsonist.The extent to which this new incivility will damage Brazil’s international standing is as yet unclear. It may well chill the reception Guedes receives in the politically correct salons of the Davos Congress Center. But for a country struggling with a wan economic recovery, a widening gap between rich and poor, and deepening social fissures, a little ecumenical decorum would help to boost democracy. So would some old-fashioned regard for the boundaries of church and state.To contact the author of this story: Mac Margolis at email@example.comTo contact the editor responsible for this story: James Gibney at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Mac Margolis is a Bloomberg Opinion columnist covering Latin and South America. He was a reporter for Newsweek and is the author of “The Last New World: The Conquest of the Amazon Frontier.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for startups.In the third edition of his “Choose France” summit on Monday, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for startups in France.Macron will also plug a revamped visa regime that will give fast-track papers to tech workers for French or foreign companies and a new benchmark index, the French Tech 120, to promote the nation’s most promising ventures.Snap’s Evan Spiegel, who was given French nationality in 2018, EU digital Commissioner Thierry Breton, Netflix Inc.‘s Reed Hastings, Google’s You Tube CEO Susan Wojcicki, Lime’s Joe Kraus and other leaders from Mexico, Nigeria, Sweden, Turkey and the U.K. will attend the forum in Versailles.Entrepreneurs and executives at some of Europe’s most successful technology startups have been urging local governments to change laws to make employee stock options more attractive, in order to better compete with Silicon Valley. Macron, his Prime Minister Edouard Philippe, Digital Minister Cedric O and 17 ministers will present the government’s latest measures.In November 2018, about 30 chief executives of companies including iZettle AB, Funding Circle Ltd., Supercell Oy, TransferWise Ltd., Blablacar and U.S.-based Stripe Inc., signed an open letter saying a patchwork of different rules in various European countries makes it complicated and costly for employers to dole out stock options.The French 2020 budget law, voted late last year and enacted on Jan. 1, has two major measures already to make stock options of startups more attractive. First the conditions of the so-called BSPCE, an employee shareholding tool equivalent to a stock options, have been sweetened: they will get a discount compared to the price investors paid at the last fund raising.Also, employees of foreign startups with a base in France will be able to get stock options calculated on the parent company’s performance, not just the French branch, minister Cedric O unveiled in a statement late last year, as he said France seeks to attract more tech workers and companies.“What France has done is fantastic, but we really need a pan-European solution,” Martin Mignot, Partner at Index Ventures, which has stakes in BlablaCar, told Bloomberg. “Currently, startups face the same problems every time they expand into a new country. Talk to any entrepreneur and they tell you it’s madness, it is slowing them down and it is putting them at a disadvantage to large companies.”Macron has attempted to lure more investors to France ever since his years as an economy minister in 2014, via taxes, visas, benchmark indexes, bilingual schools and the French way to welcome new comers.In September he created the “Next 40,” a listing of France’s top 40 startups with the strongest growth potential. While only a few of them are currently “unicorns,” with values topping $1 billion, the government said it expect more of them to scale.Read more: Napoleon, Chateaus on Display as France Seeks Venture CapitalOne of the key measures taken by Macron was a 30% flat tax on capital revenues from securities, savings, capital gains, and other sources. That measure got him into trouble with some of his citizens protesting against inequalities in the Yellow Vests movement that started in December 2018.The statistic institute Insee said the increase in inequality in 2018 was linked to a sharp rise in investment incomes, which benefited from the introduction of a flat tax the same year.Still, Macron has also toughened his stance on issues like taxes and privacy. He brought it up with Apple Inc. CEO Tim Cook in his first months as president and repeatedly to Facebook founder Mark Zuckerberg. Macron is currently in a tug of war with U.S. President Donald Trump over his tax on digital giants.Amazon.com Inc., like other tech companies, will make their first payment of France’s new tax on digital giants in a few weeks. The government enacted a 3% levy on large tech groups that is retroactively effective from Jan. 1, 2019.(Updated with comment from Index ventures)\--With assistance from Natalia Drozdiak.To contact the reporter on this story: Helene Fouquet in Paris at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Vidya RootFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
When this year's Academy Award nominations were announced on Monday, Netflix received 24 nominations — the most of any Hollywood studio. As a result, Darrell finally watched Martin Scorsese's three-and-a-half hour gangster epic — and he wasn't impressed by the results.
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(Bloomberg) -- Brazilian President Jair Bolsonaro fired the country’s culture secretary after he paraphrased notorious Nazi politician Joseph Goebbels in a video that stirred outrage in the nation.Roberto Alvim said that Brazilian art over the next decade will be “heroic” or “it will be nothing,” similarly to remarks made by Goebbels decades ago, according to a video posted on social networks early on Friday. Within hours, the term “Goebbels” became one of the top trending topics on Twitter in Brazil, and lawmakers including Senate President Davi Alcolumbre, who is Jewish, called for Alvim’s immediate removal.Music by Richard Wagner, who was Hitler’s favorite composer, plays in the background of the video posted by the culture secretary. An official photo of Bolsonaro looms over him, while a cross and a Brazilian flag can also be seen.In a subsequent interview with a local radio station, Alvim denied that he was a Nazi and said he was unaware that he had copied part of a speech made by Goebbels. “It was an unfortunate rhetorical coincidence,” he said. Alvim also said in a post on his Facebook page that “there is nothing wrong with the sentence.”In a statement dismissing Alvim, Bolsonaro said that “unfortunate” remarks made it impossible for the secretary to remain in the job. “I reiterate our repudiation of totalitarian and genocidal ideologies,” Bolsonaro said in the statement. “We also express our total and unrestricted support to the Jewish community.”The remarks represent the latest source of public uproar under the administration of President Jair Bolsonaro, who rose to the nation’s top job in part due to his non-conventional views. Bolsonaro has maintained a loyal support base, many of whom criticize the political left for being overly sensitive.Read More: Oscar-Nominated Netflix Film Is Slammed by Brazil’s BolsonaroWhile lacking status as a ministry, Brazil’s culture secretary oversees the nation’s culture and entertainment and provides millions of reais in financing to projects in those areas. In the local radio interview later Friday, Alvim said that he had explained the misunderstanding to Bolsonaro, and that his explanation was accepted by the president.Hitler ConfidantGoebbels was a government minister and close confidant of Adolf Hitler. He was known for his virulent antisemitism and calls for extermination of Jewish people, as well as for his strong oratory skills.Alvim’s remarks are unacceptable, according to a statement from Brazil’s Israeli confederation, known as Conib. “A person with those thoughts should not command the culture of our country and should be removed from the post immediately,” the statement said.In recent months, Bolsonaro has drawn international scrutiny by suggesting that NGOs were to blame for Amazon rainforest fires and making sarcastic comments about the wife of French President Emmanuel Macron. Before assuming the presidency, he downplayed Brazil’s history of slavery and made offensive comments against groups including women.(Updats with firing of Brazil’s top culture official)To contact the reporter on this story: Simone Iglesias in Brasília at email@example.comTo contact the editors responsible for this story: Walter Brandimarte at firstname.lastname@example.org, ;Juan Pablo Spinetto at email@example.com, Matthew MalinowskiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Comcast Corp.’s soon-to-launch Peacock service shows that advertising is the future of streaming TV. Consumers may be OK with that. On Thursday, the cable giant’s NBCUniversal entertainment division showcased Peacock to investors ahead of the app’s soft launch slated for April 15. Like Netflix, Disney+ and HBO Max (and to some extent, the content-lite Apple TV+), Peacock offers a library of movies; older and current network TV shows, such as “The Office” and “This Is Us”; and original programming made exclusively for its streaming audience. But it differs from the other services in one significant way: Peacock’s primary source of revenue will be ads, not subscriptions, allowing viewers the option of streaming for free. Let’s face it, paying for individual streaming-video apps at $7, $13 and $15 a pop isn’t all that cord-cutting was cracked up to be. The streaming-TV subscription model is brand new and broken. One app isn’t enough, yet having multiple subscriptions can get so expensive customers are left to wonder why they even got rid of cable. The streaming wars haven’t been a delight for the entertainment giants and their shareholders, either: These new apps are extremely costly to build and to stock with content, and they’ll cannibalize the larger revenue streams generated by traditional TV networks. Put it this way: TV just seems to work better for everyone when the consumer is the product, able to be sized up by advertisers desperate for a few moments of our time in hopes of activating a shopping reflex.Anecdotally, it’s said that viewers can’t stand ads. But in fact, research has shown that the No. 1 gripe for video subscribers is how much they’re paying. In a survey of about 6,000 North Americans conducted for TiVo Corp. toward the end of last year, about 70% said their reason for cutting the cord was that pay TV was too expensive. A separate survey by Ampere Analysis Ltd. similarly found price to be by far the biggest motivator for consumers switching to ad-supported apps, and 39% said they don't mind seeing ads while they watch. “We continue to believe consumers do not hate ads,” Rich Greenfield, an analyst for LightShed Partners, wrote in a report this week. “They hate heavy ad loads of un-targeted, repetitive ads in contrast to Instagram where the ads feel more like content.” Peacock is promising just five minutes of ads per hour.Media companies developing streaming services shouldn't underestimate the power of “free,” my colleague Sarah Halzack and I wrote last year in a column highlighting the appeal of ad-supported streaming offerings, such as Tubi, The Roku Channel and Pluto TV, which is now owned by ViacomCBS Inc. But compared to the quality of those apps, Peacock doesn’t feel free — it has plenty of premium content, carefully thought-out navigation and features, and with the option to watch some programming live and other stuff on-demand. A fuller content library can be accessed with Peacock Premium for $5 a month, although Comcast subscribers — even those who only have internet service — can get that version at no extra cost. For $10 a month, Peacock can be ad-free. But Comcast is probably hoping everyone will opt for the ads. About 70% of Hulu’s subscribers are on its ad-supported version, Peter Naylor, who heads up advertising sales for Hulu, said at a conference last year. And according to LightShed’s Greenfield, Hulu makes more money from its ad-supported version than from its ad-free subscriptions.For Comcast, it’s about “light advertising and bundling,” Jeff Shell, the newly installed CEO of the NBCUniversal unit, said during Thursday’s presentation. It’s one of the first signs of ”the great re-bundling” that I wrote about in November, as media giants realize they need to do something about the big consumer pain point of streaming: too many subscriptions.Comcast predicts Peacock will have at least 30 million active accounts and $2.5 billion of revenue by 2024, and that Ebitda will break even by then. Walt Disney Co. estimates Disney+ will turn profitable that same year, but it will take at least twice as many subscribers paying about $7 a month to do so. Similarly, AT&T Inc. is forecasting HBO Max won’t start making money until 2025, even though its fee is $15 a month. Meanwhile, Netflix has insisted it won’t adopt ads, despite the company’s $19 billion of content obligations as it burns through billions of dollars of cash each year.Of course, if ads are the name of the game, the industry has work to do to make them less annoying. Hulu, which is controlled by Disney, has been on the forefront of trying new advertising methods that are less interruptive than traditional commercials. It rolled out “pause ads” last year, which promote a brand’s product on screen while a video is paused.Comcast may be the only media giant to fully embrace ads so far for its streaming debut, but others will probably transition to a model more like Peacock’s over time. After all, birds of a feather flock together.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Comcast’s NBCUniversal unveiled a new streaming service that will be free to many customers, separating itself from a pack of Hollywood giants looking to persuade people to pay for online television. Comcast, the dominant US cable provider, is offering Peacock to its traditional television customers for free.