Stock markets experienced a broad-based selloff on Monday, leading to significant declines in major media and tech company stocks due to investor fears of a looming U.S. recession. By 3 p.m. ET, the Dow Jones dropped 2.7%, S&P 500 fell…
Apple reported record Q3 2024 revenue of $85.8 billion, a 5% increase year-over-year, driven by strong services sales and AI integration. Net income rose to $21.5 billion, with earnings per share beating estimates. Despite a slight decline in iPhone and…
Roku's shares rose over 6% after reporting better-than-expected Q2 2024 results. The net loss narrowed to $33.95 million, with revenue increasing 14% to $968 million. Streaming households grew to 83.6 million, driving an 11% increase in platform revenue. Roku highlighted…
Snap reported 432 million daily active users in Q2 2024, a 9% year-over-year increase. Revenue rose to $1.24 billion but fell short of expectations, leading to a 22% drop in share value. Net loss decreased to $249 million from $377…
Banijay Group, formerly FL Entertainment, reported an 8.6% revenue increase to €2 billion in the first half of 2024. While online sports betting and gaming revenues surged by 41.7% to €698 million, content production and distribution revenues declined by 2.7%…
Netflix is raising $1.8 billion through a new debt offering to refinance existing debt and fund general corporate purposes, including significant investments in new content like WWE and NFL games. This is Netflix's first debt raise since being upgraded to…
Netflix's TV demand share is predominantly driven by licensed programming. According to Parrot Analytics, from December 31, 2023, to July 13, 2024, licensed series consistently accounted for over 70% of Netflix's global TV demand, with original series making up less…
YouTube reported Q2 2024 advertising revenue of $8.66 billion, a 13% increase from $7.66 billion a year ago, though below Wall Street expectations of $8.93 billion. Despite a decrease from Q1's 20% growth, YouTube's ad business remains strong compared to…
Peacock lost 500,000 subscribers in Q2 2024, reducing its total to 33.5 million, but increased revenue to $1 billion, up 28% year-over-year. The streaming service also cut its quarterly losses to $348 million from $651 million the previous year. A…
Spotify reached 246 million paying subscribers in Q2 2024, a 12% increase year-over-year, surpassing guidance by 1 million. The company introduced a lower-cost ad-free plan and saw reduced churn with recent price increases. Monthly active users grew to 626 million,…