Entertainment

Netflix Confirms Move Into Video Games As Its Growth Slows

Published

3 years ago

July 21, 2021

Editor

Netflix reported its worst slowdown in subscriber growth in eight years as people emerge from their pandemic cocoons. So it’s adding a new attraction to its marquee: Video games.

On Tuesday, the video streaming giant announced it will offer video games in its existing subscription plans at no extra cost, but didn’t say when that service will launch or what kind of games it will be developing.

The confirmation of the long-anticipated expansion came in conjunction with the release of Netflix’s latest earnings report.

That financial breakdown showed the video service added 1.5 million subscribers during the April-June period. That’s slightly better than the modest increase that management forecast after the service stumbled to a sluggish start during the winter months, but still far below its growth rate in recent years.

Netflix’s net gain of 5.5 million subscribers through the first six months of this year represents its weakest first-half performance since 2013 — a time when the company was still rolling out more original programming as it branched out from licensing existing TV series and movies.

Now Netflix is taking another leap by offering video games that intends to produce itself as part of what it described as a multi-year expansion.

The Los Gatos, California, company telegraphed the move last week when it disclosed the hiring of a veteran video game executive, Mike Verdu, to explore potential opportunities in another field of entertainment.

“The reason we’re doing them is to help the subscription service grow and be more important in people’s lives,” Netflix co-CEO Reed Hastings told investors during a Tuesday discussion.

Greg Peters, Netflix’s chief product officer, said the company will initially focus on mobile games before eventually expanding to consoles and TV sets as well. The games initially will be tied to Netflix’s most popular programming, Peters said, but standalone titles may be added to the, mix too. He even speculated that Netflix eventually may create a TV series or film inspired by one of its video games.

“There’s a a big, big prize here, and our job is to be really focused,” Peters said.

Despite this year’s growth slowdown, Netflix remains by far the world’s biggest streaming service in an increasingly competitive field that includes Walt Disney Co., HBO, Amazon and Apple. Netflix finished June with 209 million worldwide subscribers.

Netflix’s heft also has produced steady profits. The company earned $1.35 billion, or $2.97 per share, nearly doubling from the same time last year. Revenue rose by 19% from last year to $7.3 billion.

But the lackluster first-half numbers are a dramatic reversal from last year, when government-imposed lockdowns across the world thrust people into binge-watching frenzies while corralled at home. Already the world’s largest video streaming service when the pandemic began in March 2020, Netflix picked up 26 million subscribers during the first half of last year. .

While no one expected Netflix to sustain that breakneck pace, the drop off in subscriber growth this year has been more severe than anticipated. Netflix shares have fallen by about 10% from their peak of $593.29 six months ago. The shares edged up slightly in extended trading after Tuesday’s news came out.

Netflix management has blamed part of this year’s slowdown to pandemic-induced production delays that left its video service with fewer proven hits. The Los Gatos, California, is expecting that problem to fade during the second half of this year with new-season releases of popular series such as “Sex Education” and “The Witcher,” as well as movies starring big-name stars such as Leonardo DiCaprio and Meryl Streep.

Even so, Netflix let down investors with a forecast calling for only an additional 3.5 million subscribers during the July-September period. That was well below analyst estimates for a third-quarter gain of 5.6 million subscribers, according to FactSet Research. The “quite underwhelming” guidance raised more worries about intensifying competition in video streaming, as well as the fallout from pandemic lockdowns ending, said CFRA analyst Tuna Amobi.

The conservative outlook suggests Netflix isn’t expecting an immediate boost from its foray into a highly competitive video game field already contested by far more experienced companies such as Epic Games, Microsoft and Electronic Arts.

But if the move into video gaming pays off, it could eventually give Netflix more leverage to boost its prices. The company has already been gradually raising subscription costs in recent years, helping to boost its average monthly revenue per subscriber to $14.54 in its biggest market comprised of the U.S. and Canada. That’s a 16 % increase from $12.52 per month two years ago.

(AP)

Related Topics:California Netflix video games

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Afrobeat Superstar, Wizkid, Sets Social Media On Fire After Slamming Davido, Don Jazzy

Published

4 days ago

April 29, 2024

Editor

Afrobeat music giant, Ayodeji Balogun, popularly known as Wizkid, on Monday, set microblogging site, X.com, on fire when he took swipes at Davido and Mavin Records boss, Michael Ajereh, popularly known as Don Jazzy.

As a result of the controversial tweet, Wizkid is now trending on X. He is number 4 on Nigeria’s X trends.

During exchanges with his followers, Wizkid dismissed the very successful music producer and label owner, Don Jazzy, as an ‘influencer’, and mocked Davido for his recently leaked viral video where he was seen on his knees crying and begging someone believed to be a female associate.

The Jaiye Jaiye crooner who hardly tweets but has a penchant for posting controversial tweets set X on fire when he tweeted, “Every day I get things to say but my mouth no good”, at exactly 4:28 am on Monday, to which a fan who tweets as @demigadd responded, “Sha release song”, prompting Wizkid to respond with “Na by force.”

This singular tweet set the pace for an avalanche of conversations, resulting in Wizkid eventually taking a sarcastic swipe at Davido and Don Jazzy.

It was like the ‘On Top Your Matter’ hitmaker’s fans had been anticipating his tweet, the comment section came alive with a barrage of comments, retweets, likes and views.

As of the time of this report, his first tweet (Every day I get things to say but my mouth no good), had garnered a whopping 3.5k comments, 8.8k retweets, 36k likes and 1.3m views, and also generated a series of conversations.

At 4:42 am, a fan who tweets as @iretomiwa03 asked if Wizkid could revert to when he used to be very active and interactive on X. The fan wrote, “Can you just go back to old Twitter wiz”, to which the ‘Holla at your Boy’ singer responded by saying “That’s a bully! Let’s leave him for now”.

When another fan who tweets as @patdafenet also pleaded with him to release a new song, Wizkid responded with a viral video of Davido on his knees begging an unseen person, with the caption “Beg me like this. Send video.”

Recall that on April 15, 2024, a leaked video of the ‘Unavailable’ crooner went viral on social media. In the video, he was seen on his knees crying and begging someone.

While speculations went viral that he was probably begging his wife, Chioma, for an offence he might have committed, some Netizens speculated that he might have been begging American model, Bonita Maria for an undisclosed offence.

The not-so-friendly fire released by Wizkid then turned in the direction of Don Jazzy when a fan who tweets as @miracledc12 posted, “Wizkid Ladipo still talk nonsense yesterday o. Abeg enter that one too.”

Like he was out for his fellow music stars, the ‘Ojuelegba’ hit singer responded at 6:03 with an innuendo describing Don Jazzy as an influencer. He wrote, “Lol, never chatting to anyone signed to an influencer. Next.”

Ladipoe is a Nigerian rap artiste signed to popular record label, Mavin Records, headed by ace music producer, singer and music executive, Don Jazzy.

This is not the first time Wizkid would be slamming of fellow celebrity or posting something very controversial on social media.

In April 2016, he took a swipe at Celebrity Blogger, Linda Ikeji, when she posted that the Afrobeat singer had received an eviction notice from his Lekki apartment which he claimed to own.

She wrote, “In 2013, Wizkid showed off his new place of abode and many people, including myself assumed he bought the house. But it’s been revealed that he only rented the place…and this is a fact. His rent at the 4-bedroom duplex at Ayinde Akinmade in Lekki Phase 1 expired in January 2016 and for reasons best known to him, he refused to renew his rent.

“He was served quit notice yesterday Friday, April 1st. (His reps collected it on his behalf) and he was given until April 11th to vacate the premises. A source close to the singer said his people had already started to gradually move his things out of the house”, to which Wizkid replied with unprintable comments on the blogger’s Instagram page.

Disappointed by their messy public war, popular filmmaker, Charles Novia, reacted. He said, “Wizkid’s reaction was true-to-type. He’s a street kid. A Surulere or Ojuelegba product and he’s not expected to have any chill. Unlike Linda, who is also from a poor background and has some understanding of the rules of the streets of Surulere. Wizkid is a supposed nouveau rich kid whose fame and fortune are grounded in the music of his streets.”

Recall that in November 2022, Wizkid surprised his fans when he made a shocking revelation about his relationship status, lamenting that he had been single for too long. He wrote, “Been single for so long! Gotta find one or two.”

Many were shocked by his remark because the singer had before then shared a rare family photo of himself, his son, Zion, and a then-pregnant Jada Pollock.

Reacting to the comment, Pollock, music executive and Wizkid’s baby mama, said, “Taking arguments to social media is never going to end well.”

She also followed up with another tweet that read, “controlling emotions,” with a padlock and key emoji. The tweets by Jada have since been deleted.

However, reacting to Wizkid’s tweets which have since gone viral, popular Nigerian journalist and afrobeat music enthusiast, Joey Akan, said, “A manufactured and enforced silence made everyone forget who Wizkid was on the come up. A troll, Linda Ikeji had to go beg the commissioner of Police for protection. The same person who gave Dammy Krane a sneak attack at Quilox.

“With Afrobeats to the world, he simply stopped talking and interacting, leading everyone to ascribe maturity to a mischievous machine on hiatus. The moment he’s started talking again, it’s back to familiar ways. “Una Papa.” “I go do giveaway.” “I make Bollywood.” “…signed to an influencer.” Just like he never left. Same old Wizkid. Same old troll.”

Entertainment

You’re Wicked Soul – Actress Okorie Slams Zubby Michael For Mourning Junior Pope On Instagram

Published

6 days ago

April 28, 2024

Editor

Actress Angela Okorie has again slammed her colleague, Zubby Michael for mourning late actor Junior Pope on Instagram.

In an Instagram post she shared, Angela alleged that Zubby took to the social media platform to mourn Junior Pope because he was called out. She also claimed that Zubby never celebrated Junior Pope when he was alive, adding that he should take his ‘’fake love” to Lucifer.

Angela further claimed that some people have planned to attend Junior Pope’s burial to ‘’pack sands from his grave to chain his spirit.”

She wrote: “Zubby onye bu Nwanne gi cos we don drag you,you Dey post JP make people think say you be better person,
You are a very wicked soul zubby everybody knows that
You have never celebrated him RIP too sweet u to post E
what de heck nigga Ina puala onye iberibe
Take your fake love elsewhere we know you Lucifer
You have never ment well for him people wey know know,
You never posted his birthdays,films,achievements, why posting him now Muderfu*cker

Zubby boli boli wey you give demonic money
Where is he, we all know anybody wey you give money,
His or her life never remains same,is either they stop growing or stop excelling,or fall sick and die, you are evil
Untie peoples destinies else you will have me to contend with for the rest of your life, I Angel of the most high God is your karma, I am the Lords battle Axe, you know say spiritually and physically all of you can’t do me shit,touch me by mistake and die by correction filthy things.
I am light and I have no business with darkness.

Note: The lord revealed that some people going to Junior pop’s burial are planing to pack sands from his grave to chain his spirit.
Y’all should put your eyes on the ground , his grave should be sealed immediately no1 apart from his family members should go close to his grave,they want to chain his spirit Ndi ala

Rest in power Bro, it’s so painful to know you are gone forever but you are in our hearts forever,we will never forget all your good deeds
While you are alive,The world will miss you, I miss you, nollywood is miss you , bro is still like a dream to me so na JP we Dey go put for ground ah I Dey
Vex.”

Entertainment

JUST IN: Nollywood Veteran Actor, Ogunjimi Is Dead

Published

1 week ago

April 26, 2024

Editor

The Nigerian movie industry has again been thrown into mourning after the news of the death of another veteran Yoruba Actor Ganiyu Oyeyemi popularly known as Ogunjimi, surfaced on social media on Friday.

Ogunjimi’s death was announced by a Yoruba actor, Kunle Afod, in a post on his Instagram page.

Mourning the actor, Afod wrote, “We tried our best but God loves you more.

“May his soul rest in peace. Baba Ogunjinmi, RIP, Sun re oooo.”

At the time of writing this report, the cause of death has not yet been ascertained.