Hollywood Week: Netflix Profits, Subscribers Report, Liam Payne, One Direction Singer, Dead
- Details
- Category: Entertainment News
- Published on Saturday, 19 October 2024 08:55
- Written by Janet Walker
Streaming giant Netflix announced its third-quarter earnings, and while the streamer exceeded Wall Street expectations, the upcoming change in reporting, which begin in 2025, will shield the streamer from revealing any leveling off in new subscriber numbers.
Netflix exceeded Wall Street expectations, by adding another five million global subscribers, bringing the total subscriber base to 282.5 million. With an operating budget of $10.5 billion or roughly 12% of 2024 $38.9 billion revenue and an expected operating income of $12.2 billion in 2025 or 13% of the projected 2025 revenue of $43.5 billion, Netflix continues to be the number one streaming choice globally and is continuing to diversify its offerings to maintain its dominant position.
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"Netflix did say that it expects revenue for next year to be in the range of $43 billion to $44 billion, up 12% from what is expected this year at the midpoint. [. . . .] Wall Street is currently projecting 24 million net new paid subscribers for 2025, on top of the 289 million with which Netflix is expected to end this year, according to FactSet estimates," reported The Wall Street Journal.
The history of SVOD, subscriber video on demand, begins with Netflix and Hulu in 2007. Netflix was transitioning from its DVD rental service to an untested horizon in media entertainment. Between 2007 and 2015, excluding Apple TV+, every major streamer was launched. Apple TV+ entered the battle in 2019. The Streaming Wars, which media analysts pinpoint as beginning in earnest in 2020 will continue indefinitely as the home entertainment market continues to undergo changes.
The idea of bundling specific events, sports, fine arts or theater and performing art presentations, such as streaming Broadway shows into living rooms around world, will be the next frontier in streaming.
Netflix has 102 million more subscribers than its nearest competitor, rounding out the top five streamers are Amazon Prime Video with 180 million subscribers, Disney+ at 157 million subscribers, Max with 97 million subscribers and Paramount+ has approximately 71.2 million subscribers.
Netflix has a comfortable position as the dominate streamer, however as other streamers continue to build their subscriber base, the possibility of a leveling off or saturation point in new subscribers, for the king of the streamers, may likely be absorbed as the upcoming changes in the way in which the streamer reports its earnings is quickly approaching.
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Liam Payne, Former One Direction, Singer Dies
Liam Payne, who rose to fame with the boy band One Direction died this week after falling from his balcony in a Buenos Aires hotel. He was 31.
Former One Direction bandmates released this statement, "In time, and when everyone is able to, there will be more to say," the four former members — Louis Tomlinson, Zayn Malik, Niall Horan and Harry Styles — said in a statement. "But for now, we will take some time to grieve and process the loss of our brother, who we loved dearly. The memories we shared with him will be treasured forever," reported The New York Times.
Payne, discovered by music producer Simon Cowell, when a young Payne (age) auditioned for the British television show, "The X Factor," in 2008, but it wasn't until 2010 that he found success on the show. He left an impression on both Cowell, and Judge Cheryl Cole, ten years his senior, and made it through to the show.
Payne continued to impress Cowell, as a solo act, and until he was cut and told by Cowell to come back in two years. When he returned, in 2010, he was cut although invited back and after a suggestion from Judge Nicole Scherzinger, Cowell paired Payne with several other solo acts, and he along with fellow members, Harry Styles, Louis Tomlinson, Zayn Malik and Niall Horan qualified in the group category and went on to place third in the overall competition. They signed with Cowell's Syco Entertainment.
Under Cowell's expert tutelage One Direction was formed and became the most successful boy band in history, releasing five albums with 29 top 100 Billboard hits. By 2015, they announced they were taking a hiatus, and one year later finalized the breakup.
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Eulogizing Payne, Cowell released this statement on Instagram, "Liam, I am devastated. Heartbroken. And I feel empty. And I want you to know how much love and respect I have for you. Every tear I have shed is a memory of you. This is so difficult to put into words right now," he added, saying that he went outside today and thought about the times they shared. "I wanted to let you know what I would always say to the thousands of people who would always ask me. 'What is Liam like?' And I would tell them you were kind, funny, sweet, thoughtful, talented, humble, focused. And how much you loved music. And how much love you genuinely had for the fans."
Payne eventually began a successful solo career, selling 18 million singles, and reaching both the UK and US Billboard Hot 100. He also had a two-year relationship with "The X Factor" judge and former girl band Girls Aloud, singer Cheryl Cole. They had a son, Bear, 7, born 2017.
After his break-up with Cole, Payne had a series of relationships. His continuing troubles with ex-fiancée, Maya Henry, 23, a model from Texas, was played out on TikTok and social media. She weaponized social media to target or publicly shame Payne for his aggressive and predatory behavior. She has a cease-and-desist letter issues to the singer days before he died.
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Cole released this statement, "As I try to navigate this earth-shattering event, and work through my own grief at this indescribably painful time, I'd like to kindly remind everyone that we have lost a human being," she begins. "Liam was not only a pop star and celebrity, he was a son, a brother, an uncle, a dear friend and a father to our 7 year old son. A son that now has to face the reality of never seeing his father again," reported People Magazine.
He was vocal about his struggles with alcoholism and suicide ideation and plagued with medical problems, since birth, and emotional problems that were overwhelming him which resulted in aggressive, and violent actions.
Authorities in Buenos Aries said, Payne was exhibiting aggressive, erratic and violent behavior, trashing the room. After his death, photos from his room revealed excessive drug paraphernalia, a shattered television screen, while that behavior is usually tolerated at the level of his global success, there was something more sinister with his action as hotel authorities, felt compelled to telephone emergency services before he jumped or fell. Bystanders have said the action was international.
Payne is survived by his parents, Karen Payne and Geoff Payne, siblings, Nicola and Ruth, and son Bear Grey Payne.
No further details are available on a funeral or life celebration.
Janet Walker, Award-Winning Screenwriter, Director, Producer, and Publisher, Unveils Slate at EFM
Janet Walker is the publisher, founder, and sole owner of Haute-Lifestyle.com. A graduate of New York University, she has been covering international news through the Beltway Insider, a weekly review of the nation's top stories, for more than a decade. A general beat writer/reporter and entertainment/film critic, she is also an accomplished news/investigative news/crime reporter and submitted for Pulitzer Prize consideration "Cops Conspire to Deep Six Sex Assaults" in the Breaking News Category. Ms. Walker has completed five screenplays, "The Six Sides of Truth," "The Assassins of Fifth Avenue," "The Wednesday Killer," "The Manhattan Project," and the sci-fi thriller "Project 13: The Last Day." She is a member of the Los Angeles Press Club, the National Writers Union, and the International Federation of Journalists.
