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Business Research
As promised, Netflix will start testing higher prices for hi-def, Blu-ray movies "very shortly," CEO Reed Hastings said on the company's Q2 earnings conference call this morning. Depending on how those tests go, the company will implement the new pricing across its subscriber base of 8.4 million people.…
Posted 23mins 29secs ago From Silicon Alley Insider.
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The funeral for the DVD is going to have to be put off for a bit longer. Sales slumped last year, for the first time ever, and the decline was supposed to accelerate in 2008. But Netflix (NFLX) just turned in a nice quarter and says it can't see any slowdown ahead. And Pali Research's Rich Greenfield,…
Posted 26mins 29secs ago From Silicon Alley Insider.
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Netflix (NSDQ: NFLX) reported Q2 revenue of $337.6 million, an 11 percent increase from $303.7 million a year ago. Net income was up just 3 percent to $26.6 million. A significant reduction in shares outstanding, however, meant that EPS rose 13.5 percent to $.42 per share from $.37 per share. That surpassed…
Posted 40mins 29secs ago From paidContent.org.
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A solid Q2 for Netflix, meeting the Street's sales expectations and beating profit expectations by a few cents. Third quarter outlook looks a bit light -- both revenue and EPS are below consensus, but the company expects margins to increase despite more investment in digital content. Meanwhile, Netflix…
Posted 48mins 29secs ago From Silicon Alley Insider.
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Local broadcaster Belo Corp (NYSE: BLC).—not to be confused with its newspaper sibling AH Belo from which it split last year—saw Q2 net earnings drop to 27.7 percent to $26.3 million from last year's $36.4 million. Revenues slid as well, coming in $188.9 million from $198.2 million, a fall of 4.7…
Posted 50mins 29secs ago From paidContent.org.
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Gas prices declined for the 8th straight day, nearing a level not seen in seven weeks, according to a nationwide survey Friday of filling station credit card swipes. Other fuel prices also continued to fall.
Posted 1hr 31mins ago From Latest financial news - CNNMoney.com.
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Many AOL (TWX) observers assume that the "belt-tightening" we reported a few weeks ago, combined with reorgs and sudden, significant cuts at AOL properties like Weblogs, mean that AOL's ad revenue is cratering. Based on reports from elsewhere in the industry, this is a reasonable inference: MSN, Bankrate,…
Posted 1hr 32mins ago From Silicon Alley Insider.
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AOL is "sunsetting" (i.e. killing or trying to sell) some of its underperforming units, including Bluestring, Xdrive, AOL Pictures and MyMobile. TechCrunch has the memo, issued last week, by EVP Kevin Conroy, who oversees the company's product group. Conroy's unit will now focus on projects like its…
Posted 1hr 36mins ago From Silicon Alley Insider.
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Scripps' (NYSE: SSP) big comparison services Shopzilla and uSwitch continued on a decent turnaround path this quarter. On the company's conference call, management said that for the year they expect $8-$10 million in profit for the two services. CFO Joseph NeCastro warned, however, that Shopzilla's…
Posted 1hr 46mins ago From paidContent.org.
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Four Google (NSDQ: GOOG) executives may be standing trial over failing to adequately monitor third-party content posted to their Italian language site. Italian prosecutors are preparing to file charges in a two-year old case against the Google employees over a video uploaded to the search giant's Italian…
Posted 2hrs 15mins ago From paidContent.org.
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American newspapers are getting hammered by evaporating classified ads, but Craigslist isn't (SAI 25 No. 3). CEO Jim Buckmaster shared some June numbers that will make a newspaper publisher weep: housing ads are up 85% y/y, with rental ads up 120% and real estate up 70%. Still, even as Craigslist takes…
Posted 2hrs 44mins ago From Silicon Alley Insider.
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Yesterday, our EconCeleb conference went well, despite the technical/audio troubles. Everyone seemed surprised no one had thought of doing a conference on this hugely popular category of media...well, we did, and thanks everyone for coming and making it a success. Full coverage from the conference is…
Posted 6hrs 41mins ago From paidContent.org.
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Vivendi (EPA: VIV), the France-based media giant and parent of Universal Music Group, has reported its first half 2008 and Q208 earnings, and its revenues totaled €11.2 billion ($17.7 billion), compared to €10.2 billion ($16 billion) for the first half 2007. For Q2, Vivendi's revenues totaled €5.98…
Posted 7hrs 8mins ago From paidContent.org.
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Is Indian media group Bennett, Coleman & Co, owner of Times of India newspaper, eyeing another cheap UK acquisition? The shares of British media group Trinity Mirror rose more than 5 percent on Thursday on market rumours that the Indian media giant is looking to bid for the UK company whose market cap…
Posted 7hrs 26mins ago From paidContent.org.
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Some belt tightening has started at AOL (NYSE: TWX), as it prepares and dresses itself up for a sale: It is discontinuing some of its tech projects, and also trimming some of its content blogs under the Weblogs Inc network. According to an internal memo sent by Kevin Conroy, AOL's EVP of Products and…
Posted 9hrs 44mins ago From paidContent.org.
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Blockbuster (NYSE: BBI), which recently abandoned its foolish quest to buy Circuit City, is now on to the next thing, which it has been talking about for the last year: its digital re-invention. The company has a strong presence at Comic-Con going on this week in San Diego, and is also demo-ing its…
Posted 10hrs 13mins ago From paidContent.org.
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This has been brought up many times before, and Reuters has even said it that it wants to expand its TV/video activities, though it has denied any attempt to launch a linear TV channel over the years. Now, The Telegraph is reporting that it is preparing to launch a business TV news channel to rival…
Posted 10hrs 18mins ago From paidContent.org.
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Google-MySpace Part II? WSJ reports that Microsoft (NSDQ: MSFT) will unveil a search deal with Facebook at today's analyst meeting.... Update: The news was just announced by Microsoft's Satya Nadella on stage at the company's analyst meeting, after first reciting a long list of technical accomplishments…
Posted 13hrs 19mins ago From paidContent.org.
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After last night's surprise news, this becomes a lot more interesting: Microsoft (NSDQ: MSFT) is hosting a day-long analyst event today, kicking off with Steve Ballmer at 11:40 (ET). Suffice to say, they'll have plenty to talk about. You can catch the live webcast and a schedule here, and we'll be updating…
Posted 13hrs 19mins ago From paidContent.org.
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The McClatchy Company's (NYSE: MNI) financial struggles only seemed to deepen in Q2, as Gary Pruitt, the publisher's chairman and CEO, pinned the weakening economy and the shift from print to digital on its revenue and income decreases. Revenues were down 15.6 percent to $489.7 million in Q2 compared…
Posted 15hrs 30mins ago From paidContent.org.
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Watch out, speculators: The Commodity Futures Trading Commission is getting tough on crime. But since, as the CFTC has said, speculation hasn't pushed up prices, the crackdown will benefit its image more than the economy.
Posted 16hrs ago From Latest financial news - CNNMoney.com.
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Sign of the times: The San Diego Union-Tribune, the nation's 21st largest newspaper and owned by privately-held Copley Press, has put itself up for sale, reports the paper itself. Copley has engaged the New York-based banker Evercore Partners, which also represented the publishing company in the sale…
Posted 16hrs ago From paidContent.org.
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New Jersey digital shop Rosetta Marketing has bought the interactive agency Brulant, Mediapost reported. Terms of the deal weren't disclosed. Chris Kuenne, Rosetta's founder and CEO, said he expects the combined entity's revenues will reach $130 million by the end of the year. In 2007, he said 10-year-old…
Posted 16hrs 3mins ago From paidContent.org.
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Microsoft casually announced a new search and search ad deal at the end of Steve Ballmer's analyst presentation today. Microsoft gave next to no details about the pact, but the Wall Street Journal has gone ahead and declared that the deal "could pose a threat to Google". How so? Last we looked, Google…
Posted 16hrs 17mins ago From Silicon Alley Insider.
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The latest turn in this saga doesn't look so good for Scrabulous… Hasbro, the maker of Scrabble, is suing the creators of Scrabulous, the uber-popular Facebook app. In a statement, the company says the suit was filed against Rajat Agarwalla and Jayant Agarwalla in the Southern District of New York,…
Posted 16hrs 28mins ago From paidContent.org.
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Online tech media publisher TechTarget (NSDQ: TTGT) pre-announced its Q2 earnings, and lowered its forecast for Q3 on account of weakening macro environment. The formal earnings will be on Aug 13. The company expects Q208 revenue of $29.4 million, compared to consensus expectations of $31 million. Also,…
Posted 16hrs 32mins ago From paidContent.org.
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No. 4 U.S. wireless carrier T-Mobile just picked up some more airwaves to use as it builds out its 3G wireless network across the States. The carrier just bought a chunk of spectrum from Nextwave Wireless for $98 million, RCR Wireless News reports. The spectrum covers Pittsburgh, Sacramento, Calif.,…
Posted 16hrs 58mins ago From Silicon Alley Insider.
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Treasury prices were higher Thursday on worse-than-expected unemployment claims data and existing home sales, indicating that the economy is still under pressure and providing motivation for investors to seek the safety of longer-term government bonds.
Posted 16hrs 59mins ago From Latest financial news - CNNMoney.com.
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Backers of the housing rescue bill have been trying to reassure skeptics in Congress by pointing to the bill's creation of a new world-class regulator for Fannie Mae and Freddie Mac. But opponents doubt any watchdog will have enough teeth to keep the well-connected mortgage guarantors in line.
Posted 17hrs 6mins ago From Latest financial news - CNNMoney.com.
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During Apple's Q3 earnings call on Monday, finance chief Peter Oppenheimer declined to offer analysts his take on the economy: "...We're going to leave economic commentary to others but we didn't see any obvious impact to the business in the June quarter," he said. But as Michelle Leder points out at…
Posted 17hrs 38mins ago From Silicon Alley Insider.
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Hasbro (HAS) finally filed suit against the Agarwalla brothers, the duo behind the popular Facebook app, Scrabulous. The company says it filed a copyright and trademark suit in New York against Kolkata, India-based RJ Softwares, and both Rajat and Jayant Agarwalla, and sent a DMCA takedown notice demanding…
Posted 17hrs 55mins ago From Silicon Alley Insider.
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New York State Attorney General Andrew Cuomo Thursday brought a multi-billion dollar civil lawsuit against the Swiss banking giant UBS for allegedly pushing everyday investors into buying troubled auction-rate securities.
Posted 17hrs 59mins ago From Latest financial news - CNNMoney.com.
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The Federal minimum wage is increasing to $6.55 an hour today. But for most folks facing higher prices on everything from a gallon of milk to a gallon of gas, it's still getting harder to make ends meet.
Posted 18hrs 2mins ago From Latest financial news - CNNMoney.com.
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Standard & Poor's has put the New York Times' (NYT) credit ratings on "Credit Watch with negative implications," meaning that analysts at S&P are pondering downgrading the company's corporate credit rating to non-investment, or "junk" status. The move follows another horrible Q2 result in which the…
Posted 18hrs 3mins ago From Silicon Alley Insider.
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Everyone agrees: Mobile ads are going to be huge. So huge that everyone has been in agreement about their future promise for more than a decade...and we're still waiting for a single example of a mobile ad application that might actually be compelling. Sure, they all sound good in speeches. For example,…
Posted 18hrs 39mins ago From Silicon Alley Insider.
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Feel the need to see David Caruso in high-def detail, at your desktop? Well, CBS is going to give you the chance. The network has launched a high-definition section of CBS.com, with clips and full episodes from shows like "CSI", "Survivor" and "Big Brother" in 720p. The "CBS HD Gallery," sponsored by…
Posted 18hrs 50mins ago From Silicon Alley Insider.
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The conclusion of the XM-Sirius (NSDQ: SIRI) saga is playing out like the final 2 minutes of a close basketball game. All signs are that the deal will be approved. It was reported yesterday that the swing voter on the FCC, Deborah Taylor Tate, would approve the union, provided XM (NSDQ: XMSR) and Sirius…
Posted 19hrs 25mins ago From paidContent.org.
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For quite some time, Universal Music Group has been able to weather the storm pounding the rest of the music business. We never quite figured it out, be we always assumed that it had something to do with the fact that it as the world's biggest music company, it had the best odds of coming up with hit…
Posted 19hrs 27mins ago From Silicon Alley Insider.
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What awesome, futuristic gadgets and services is Microsoft's (MSFT) entertainment and devices division cooking up? You'd never know from division president Robbie Bach's presentation today at Microsoft's analyst day, which was mostly a rehashing of recent announcements. The big picture: Bach wants the…
Posted 19hrs 33mins ago From Silicon Alley Insider.
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The dismal economy not only hit newspaper publisher Lee Enterprises (NYSE: LEE) on the print side, but even its online ad revenues fell in Q2. Online dropped 9.1 percent, Lee said, adding that combined print and digital revenues also fell 10 percent to $195.5 million. Also, combined same property print…
Posted 19hrs 43mins ago From paidContent.org.
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So it isn't just in U.S., but some frentic blog media activity in UK as well: -- Datamonitor founder Mike Danson, who bought half of left-leaning current affairs mag New Statesman in April, has invested a five-figure sum to buy a majority of unofficial Labour party blog LabourHome. More details here…
Posted 19hrs 46mins ago From paidContent.org.
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More fuel for the Apple rumor mill: Steve Jobs spent a lot of time flying on company business last spring. So where was he going, and what was he doing? The background: Steve bills Apple (AAPL) for use of his personal jet when he's on company business, and the tab shows up in each quarterly report.…
Posted 20hrs 22mins ago From Silicon Alley Insider.
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Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Posted 21hrs 23mins ago From Latest financial news - CNNMoney.com.
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More bad news for newspapers: Lee Enterprises (LEE), which owns 54 daily papers in 23 states, says that not only is traditional newspaper advertising down in Q2 (expected), but online advertising is down 9.1%, too. Lee's online business consists of 126 local Web sites corresponding to publications as…
Posted 21hrs 36mins ago From Silicon Alley Insider.
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More trouble for E.W. Scripps after the split-off of its cable and Internet businesses from its newspapers and TV stations. The company may write-down the value of its newspaper and local broadcast TV assets in Q3, said CEO Richard Boehne, on the company's earnings call. "Based on the stock price of…
Posted 22hrs 39mins ago From Silicon Alley Insider.
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Thanks for joining us! Steve's now finished. Notes below. Watch the webcast live here. This is a critical speech for Steve Ballmer, whose reputation has been damaged over the past six months. He did an okay job. He thinks Microsoft will succeed in search. We don't. But Steve probably made best case…
Posted 22hrs 54mins ago From Silicon Alley Insider.
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One thing that hasn't shown up in Facebook's redesign yet: New ad formats. In fact, from what we can tell, the site is now featuring fewer ads than before. Or at least, less visible ones. That's going to change soon, Mark Zuckerberg tells CNBC. Unfortunately, he doesn't tell Julia Boorstin any more…
Posted 23hrs 8mins ago From Silicon Alley Insider.
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We haven't spotted many ads so far in Apple's (AAPL) two-week-old iPhone app platform. But that could change soon: Mobile ad network AdMob is opening its network up to iPhone app developers, and is giving away $1 million of free advertising to get developers to use it. The key difference between AdMob…
Posted 23hrs 28mins ago From Silicon Alley Insider.
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Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR) are in final talks with the FCC to settle outstanding enforcement issues in a deal would pave the way for approval Sirius' $3.9 billion buyout of XM. As part of the deal, XM would agree to pay $17.5 million and Sirius $2.2 million to settle…
Posted 1 day ago From Silicon Alley Insider.
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A big move for mobile phone chip maker Qualcomm (QCOM): It's finally settled its extended legal battle with Nokia (NOK), the world's largest mobile phone maker. WSJ: The companies didn't disclose financial details of the settlement. But they described it as a 15-year agreement that includes Nokia making…
Posted 1 day 1hr ago From Silicon Alley Insider.
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At his keynote yesterday, Mark Zuckerberg announced the first recipients of grants from the fbFund - the $10 million pile of money from the Founders Fund and Accel Partners to fund Facebook apps. The apps are pretty varied, and all of them are 'useful' in some sense -- a new priority for the social…
Posted 1 day 1hr ago From Silicon Alley Insider.
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Daily Candy, the pioneering newsletter startup owned by Bob Pittman's Pilot Group Ventures, is perenially supposed to be on the block, but has yet to change hands. The newest rumor: Comcast, the cable giant with a huge appetite for digital M&A, is going to pick it up for $75 million. Update: People…
Posted 1 day 2hrs ago From Silicon Alley Insider.
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In May, CBS, NBC and Fox sent a cease-and-desist notice to Redlasso, the much-loved (by bloggers) service that lets users clip and post TV shows. Redlasso's response: Point out how loved the service is (by bloggers) and hire some old media guys to help it negotiate with the networks. We were skeptical,…
Posted 1 day 2hrs ago From Silicon Alley Insider.
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If elections were held on YouTube, Barack Obama would win hands-down -- so far. But the McCain campaign is making inroads on the Web, aided by some good old-fashioned attack ads. McCain has beaten Obama in terms of viewers on YouTube (GOOG) on four of the last six days, thanks to the success of two…
Posted 1 day 3hrs ago From Silicon Alley Insider.
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Apple's iPhone app platform is brand new, so developers have plenty of questions they want to ask each other, or tips to share. But they can't -- at least not without violating Apple's non-disclosure agreement. The NDA, which is threatening to undermine the success of Apple's much-hyped new platform,…
Posted 1 day 3hrs ago From Silicon Alley Insider.
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