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Old 01-02-2019, 05:36 PM   #1
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Activision Fires CFO, Netflix Hires Him


2019... out with the old.

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Activision Blizzard, the gaming giant behind franchises like Call of Duty, Overwatch, World of Warcraft, and Diablo, has lost one of its senior executives. The California-based publisher announced that chief financial officer Spencer Neumann was notified on December 31 that his contract with Activision Blizzard was terminated.

The company decided to terminate Neumann's contract "for cause unrelated to the Company's financial reporting or disclosure controls and procedures," Activision Blizzard said in US Securities & Exchange Commission filing. In a PR statement, it said that he was "terminated for cause for violating his legal obligations to the Company."
In with the new.

Quote:
Netflix Inc. announced today that Spencer Neumann is joining the company as Chief Financial Officer. Neumann is an accomplished media and financial executive who was most recently CFO of Activision Blizzard and previously held several senior positions at the The Walt Disney Company. He succeeds David Wells who served as CFO since 2010.

"Spencer is a stellar entertainment executive and we're thrilled that he will help us provide amazing stories to people all over the world," said Reed Hastings, Netflix Chief Executive Officer. "I also want to again say thank you to David Wells, on behalf of the company and our shareholders, for his invaluable contributions at Netflix over the past 14 years."

"Netflix is a singular brand, and I'm excited and honored for the opportunity to work with the Netflix team and all of our stakeholders to build on the company's exceptional track record of success and innovation," said Spencer Neumann.

Neumann served as Activision Blizzard's CFO from May 2017. Prior to that, Mr. Neumann held a number of positions of increasing responsibility at The Walt Disney Company, most recently serving as the CFO and executive vice president of Global Guest Experience of Walt Disney Parks and Resorts, from 2012 until May 2017. From 2005 to 2012, Mr. Neumann worked at the private equity firms of Providence Equity Partners and Summit Partners. Prior to that, Mr. Neumann held several other roles with Disney, which he initially joined in 1992, including executive vice president of the ABC Television Network from 2001 to 2004 and CFO of the Walt Disney Internet Group from 1999 to 2001. He is also a member of the national board of directors of Make-A-Wish America. Mr. Neumann holds a B.A. degree in economics from Harvard University and an M.B.A. degree from Harvard University.
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Old 01-02-2019, 05:44 PM   #2
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I hope he's really good at subtraction. Netflix is sure to lose a lot more money and market capitalization over the course of 2019.
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Old 01-02-2019, 05:57 PM   #3
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I hope he's really good at subtraction. Netflix is sure to lose a lot more money and market capitalization over the course of 2019.
Bird Box just had 45 Million viewers and Bandersnatch was a big hit. I think they are doing just fine.
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Old 01-02-2019, 09:18 PM   #4
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They've repeatedly missed on projected subscriber numbers...

Their stock is tanking, down from over $400 to $250s in seven months...

Disney is dialing up their own streaming service this year...

Disney just closed on their 20th Century Fox purchase and will move those properties to their own service(s)...

Netflix has over $10 billion in debt and keeps adding to it...

Netflix cash flow is projected to continue to be negative for years to come...

And on and on. Great service. I subscribe. AOL was awesome in its day too. Now it's a pimple on the Internet's ass.
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Old 01-03-2019, 07:00 AM   #5
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Bird Box just had 45 Million viewers and Bandersnatch was a big hit. I think they are doing just fine.
Those 45 million views all came from the same pile of people paying out $10-14 a month. They spent $13 billion on original content in 2018 alone...but they don't monetize their original content the way other film and television companies do. They don't receive ticket sales or advertiser support for each viewing. They don't monetize their original content with merchandising, in most cases. Hell, they don't even bother to release most of their stuff on physical media to help recoup some of the costs. Instead, they rely on people shelling out $10-14 a month for all of the content they consume.

At $14 a month, recouping the cost of just the $13 billion would require nearly 929 million subscribers. This doesn't factor in all of their other operational costs.
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Old 01-03-2019, 07:53 AM   #6
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Those 45 million views all came from the same pile of people paying out $10-14 a month. They spent $13 billion on original content in 2018 alone...but they don't monetize their original content the way other film and television companies do. They don't receive ticket sales or advertiser support for each viewing. They don't monetize their original content with merchandising, in most cases. Hell, they don't even bother to release most of their stuff on physical media to help recoup some of the costs. Instead, they rely on people shelling out $10-14 a month for all of the content they consume.

At $14 a month, recouping the cost of just the $13 billion would require nearly 929 million subscribers. This doesn't factor in all of their other operational costs.
They have 137 million subscribers. Keep in mind that their projects are often funded from multiple sources, like BBC with Watership Down and Black Mirror.

It they keep cranking out stuff like Bird Box and Bandersnatch, their stock will go back up. Pretty badly a really good time me to buy.
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Old 01-03-2019, 08:23 AM   #7
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They have 137 million subscribers. Keep in mind that their projects are often funded from multiple sources, like BBC with Watership Down and Black Mirror.
They still spent $13 billion of their own money on original content. If we assume all 137 million subscribers pay the maximum monthly fee of $14, this is still only $1.9 billion in revenue.

The other $11.1 billion has to come from somewhere. The fact that these projects are also funded by other companies is largely irrelevant because they still pissed out $13 billion in 2018.
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Old 01-03-2019, 08:58 AM   #8
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That 13 billion seems Iffy....

By september 2018 they had a net PROFIT of 1 Billion... with 3 months to spare.

You can look their financials here.

They are not hurting for money, but they are investing heavily. they need to, because all other content providers are removing their content from Netflix.

Netflix is going to stay, but the competition is going to be impressive to say the least.
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