Computer and Tech

Netflix still piling up viewers — and big programming bills

SAN FRANCISCO (AP) — Netflix is pulling in new viewers and award nominations in droves, however the on-line video service nonetheless faces a long-term drawback:

Wall Avenue rewarded Netflix by driving up its inventory by greater than 10 p.c to $178.30 in prolonged buying and selling, placing the shares on monitor to hit a brand new excessive in Tuesday’s common buying and selling.

Within the second quarter, Netflix jettisoned each the high-concept science fiction present “Sense eight” and the musical drama “The Get Down.”

Hastings on Monday described the unfavourable money circulation as “a sign of super success,” reasoning that Netflix would not be capable to finance new programming if it wasn’t attracting so many new subscribers.

Netflix remains to be worthwhile underneath company accounting guidelines, though its earnings stay puny by Wall Avenue requirements.

Netflix might earn more money by elevating its costs nearer to the $15 per thirty days that HBO prices for its streaming service, however the firm has stated no will increase are deliberate within the close to future.

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