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Netflix Spending Big on Original Content

“Netflix plans to spend an estimated 17.3 billion this year with a large portion of those funds earmarked for original content.”

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Netflix CEO and Co-Founder Reed Hastings doesn’t care whether you are watching reruns of an old favorite too many times to count or experiencing a Netflix Original for the first time. He knows people are subscribing to the streaming service in record numbers. Netflix recently announced 26 million new subscribers in the first half of 2020, giving the company approximately 193 million subscribers in total.

“Consumers don’t really care how we do it,” Reed said in an interview with Yahoo! Finance. “What they care (about) is that we have some of the best series and the best films that anyone’s ever produced. We care really about what are the options that we have for consumers, rather than how and who produces it.”

Hastings and Netflix have put their money where their mouth is, shelling out 15 billion dollars on content in 2019, putting the company on par with other industry leaders Viacom/CBS and just behind Comcast at 15.4 billion. Disney leads the way, spending 27.8 billion dollars on content.

Netflix plans to reach deeper in their pockets this year as they will spend an estimated 17.3 billion with a large portion of those funds earmarked for original content, according to BMO Capital Markets analyst Dan Salmon.

Some of the most anticipated original programming will feature Prince Harry, Duke of Sussex, and his wife, American actress Meghan Markle, after the couple recently cut ties with the Royal Family. Other original shows that have created industry buzz are Enola Holmesstaring Mille Bobbie Brown (who rose to stardom in the Netflix Original Stanger Things) and Challenger: Final Flight, a documentary which examines the events surrounding the explosion of the Space Shuttle Challenger.

Some other original programming such as Cuties has been widely met with criticism due to perceived sexualization of children. It has caused the hashtag #CancelNetflix to trend on Twitter in recent days.  But Hastings doesn’t seem to mind the controversy or the fact that he is being out-spent by other companies.

“They’re doing a lot of things that are interesting, but we’re focused on being a great entertainment company,” Hastings said. “We’re never going to be all of entertainment. Other people are going to do other shows.”

Story written by BNM contributor Jacob Conley. Follow him on Twitter @GWUJake.

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Report: More Than a Third of Twitter’s Top 100 Advertisers Have Exited

CNN’s Oliver Darcy shared the reporting done by the Washington Post that more than a third of the top 100 Twitter advertisers have abandoned the platform.

Eduardo Razo

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One of Elon Musk’s most significant challenges, as he now owns Twitter, lies on the financial side as the Tesla CEO attempts to make the social media stay afloat or at least somewhat profitable. 

However, CNN’s Oliver Darcy shared the reporting done by the Washington Post in his “Reliable Sources” newsletter that more than a third of Twitter’s top 100 advertisers have abandoned the platform.

With advertisers exiting, the lack of ad revenue is one of the most significant dangers to Twitter since it accounted for approximately 90 percent of its income last year.

The reporting also reveals that the pausing of ad campaigns is getting under Musk’s skin. The new Twitter owner lashed out at brands again Tuesday for “starving” the company of revenue. 

Musk also strongly suggested he never really created a “content moderation council” due to advertisers who “broke the deal” they allegedly had with him when they began exiting the platform after he “agreed to this condition.”

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Elon Musk: Ownership of Twitter Isn’t ‘Right-Wing Takeover’

Tesla CEO Elon Musk spoke with those who are still with the company, reassuring them that his ownership isn’t a “right-wing takeover.”

Eduardo Razo

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Last week saw Twitter have another mass exodus of staffers and Tesla CEO Elon Musk spoke with those who are still with the company, reassuring them that his ownership isn’t a “right-wing takeover.”

Furthermore, Musk stated that he doesn’t plan on moving the platform to Texas despite many suggesting he do so since, for him, it would send a wrong message. 

“If we want to move the headquarters to Texas, I think it would play into the idea that Twitter has gone from being left-wing to right-wing, which is not the case,” Musk said (h/t The Verge). “This is not a right-wing takeover of Twitter. It is a moderate-wing takeover of Twitter.”

However, Musk is open to the idea of having dual headquarters, one in San Francisco and another in Texas, but for now, his objective appears to be stabilizing the company after a rocky transition. 

Musk indicated he might be done with slashing employees, telling employees to refer potential staffers for engineering and sales positions.

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Blaze TV Hosts React To Controversy With Elon Musk, Twitter

Blaze TV hosts are reacting to the ongoing controversy involving Twitter as the company has seen mass layoffs under Elon Musk.

Ryan Hedrick

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Blaze TV hosts are reacting to the ongoing controversy involving Twitter. Last week, CBS News said it was halting its activity on the platform amid layoffs and resignations at the company. 

Jeff Fisher joined Pat Gray and Steve Burguiere aka Stu, on the “Glenn Beck Show ” Monday to discuss some of the latest developments involving Twitter including owner Elion Musk banning conspiracy theorist Alex Jones. 

Burguiere said it’s strange to see how left-leaning pundits have demonized Elon Musk following his acquisition of Twitter. 

“This guy should be a liberal icon,” stated Burguiere. “We lose sight of this because he says things about free speech that I guess is exclusively a right-wing issue.” 

Burguiere said that Musk should be able to do anything that he wants with Twitter considering the amount of money he invested to purchase the company. 

“This whole thing that he’s the icon of free speech, I don’t know if that’s true,” added Burguiere. 

Musk announced recently that conspiracy theorist Alex Jones received a permanent ban on Twitter for his involvement in denying that the Sandy Hook massacre took place.

“He (Musk) has been a hard no on Alex no matter what,” said Fisher. 

“He has apologized for it,” Burguiere said. “He’s also been sued for billions of dollars over it.” 

“The thing about Alex Jones is that some of us don’t like what he said,” Gray remarked. “But, who cares, that’s what you call free speech.”

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