Netflix's DVD-by-mail service bows out as its red-and-white envelopes make their final trip
The curtain is finally coming down on Netflix’s once-iconic DVD-by-mail service, a quarter century after the birth of a concept that obliterated Blockbuster video stores while providing a springboard into video streaming that has transformed entertainment.
Netflix to rely on Microsoft for its ad-backed video service
Netflix has picked Microsoft help deliver the commercials in a cheaper version of its video streaming service expected to launch later this year with a pledge to minimize the intrusions into personal privacy that often accompany digital ads.
Bezos and Bloomberg among top 50 US charity donors for 2020
Bezos is one of the 50 Americans who gave the most to charity in 2020, according to the Chronicle of Philanthropys annual rankings. “There has been change building among private donors.”All told, the 50 biggest donors contributed $24.7 billion in 2020, compared with $15.8 billion in 2019. The $1 billion-plus of giving by each of the top five on the Philanthropy 50 matches last year’s record. No more than three donors gave $1 billion or more in any of the previous years. Colleges and universities received $2.2 billion from Philanthropy 50 donors in 2020.
Khashoggi doc, too explosive for streaming, debuts on-demand
(Photo by Taylor Jewell/Invision/AP, File)NEW YORK – Even before “The Dissident” made its premiere at the Sundance Film Festival, director Bryan Fogel had a sense that his explosive Jamal Khashoggi documentary was going to be a tough sell. The film, available on-demand this week, was one of the most anticipated of last January's Sundance. The audience at Sundance included Hillary Clinton, Alec Baldwin and Reed Hastings, the Netflix chief executive. Mohammed denied Saudi Arabia was behind the murder, then eventually granted it was carried out by agents of the Saudi government. “Ultimately, those risk assessments took the place of whether or not their couple hundred million subscribers would like to see this film,” Fogel says.
Race for Los Angeles district attorney increasingly bitter
FILE - In this June 2, 2020, file photo, Los Angeles Mayor Eric Garcetti arrives to appeal to Black Lives Matter protesters in downtown Los Angeles. (AP Photo/Richard Vogel,File)LOS ANGELES – After a scrappy debate that Los Angeles County District Attorney Jackie Lacey believed lifted her campaign and was a “disaster” for her opponent, she got a text message from the LA mayor with unwelcome news: He was switching his endorsement to her challenger. A little more than half is for Gascon, the vast majority from a handful of well-heeled backers supporting justice reforms. Gascon has gained support from protests over the death of George Floyd at the knee of a white Minneapolis police officer. Lacey said Gascon is pandering to supporters and that when he was San Francisco DA he never prosecuted a police killing case.
Netflix's ‘Cuties’ becomes target of politicized backlash
The backlash to the French independent film “Mignonnes,” or “Cuties,” started before it had even been released because of a poster that went viral for its provocative depiction of its young female actors. At the heart of the backlash is the idea that “Cuties” is dangerously and irresponsibly sexualizing pre-teen girls, which, ironically, is what the movie itself is criticizing too. She becomes fascinated with a clique of rebellious girls at her middle school who choreograph dance routines and wear crop tops and heels. Netflix acquired “Cuties” out of the Sundance Film Festival earlier this year where it was favorably reviewed and won an award for its direction. “Our girls see that the more a woman is overly sexualized on social media, the more she is successful.
Netflix promotes content chief to co-CEO; adds 10M new subs
NEW YORK Netflix added a flood of new subscribers amid the coronavirus pandemic and also offered clues to a possible successor for founding CEO Reed Hastings, who on Thursday named the company's chief content officer, Ted Sarandos, as co-CEO. This change makes formal what was already informal that Ted and I share the leadership of Netflix, said Hastings in a statement. The company picked up 10.1 million worldwide subscribers during the April-June period, more than triple what it usually adds in that period. The increase announced Thursday with Netflixs second-quarter earnings eclipsed the gain of 8.3 million subscribers projected among analysts polled by FactSet. Netflix ended June with 193 million worldwide subscribers, including 70 million in the U.S. and Canada, its largest geographic market.
Netflix CEO to donate $120M to historically black colleges
Netflix CEO Reed Hastings and his wife, Patty Quillin, are donating $120 million toward student scholarships at historically black colleges and universities. The couple is giving $40 million to each of three institutions: the United Negro College Fund, Spelman College and Morehouse College. The organizations said it is the largest individual gift in support of student scholarships at HBCUs. He launched a $100 million education fund in 2016, beginning with money toward college scholarships for black and Latino students. YouTube, meanwhile, pledged $100 million to help black artists and other creators.
CEO pay has topped $12.3M. Can it keep rising post-pandemic?
The 4.1% rise in median pay was a slowdown for S&P 500 CEOs, who had seen their pay jump 7.2% the year before and by even more in earlier years. SAY ON PAYThe slowdown in CEO pay across the S&P 500 is partly due to the increased voice investors have gotten on the subject, shareholder advocates say. The S&P 500 lost as much as a third of its value earlier this year, when worries about the recession were at their peak. Corporate profits, another key measure for CEO pay, are also expected to crater. Across the S&P 500, earnings per share will likely sink 33% this year, strategists at Goldman Sachs say.
AMDS Su, Discoverys Zaslav among highest paid CEOs
Change from last year: 338%Her pay vs typical company worker: 604 times, up from 165Overall ranking: No. Virginia M. RomettyIBM$19.1 millionChange from last year: 9%Her pay vs typical company worker: 354 times, up from 319Overall ranking: 57___5. David ZaslavDiscovery$45.8 millionChange from last year: -65%His pay vs typical company worker: 578 times, down from 1,511Overall ranking: No. Shantanu NarayenAdobe Inc.$39.1 millionChange from last year: 38%His pay vs typical company worker: 266 times, up from 200Overall ranking: No. Larry J. MerloCVS Health$36.5 millionChange from last year: 66%His pay vs typical company worker: 790 times, up from 618Overall ranking: No.