Netflix co-founder Reed Hastings has stepped down as chief executive of the company that upended Hollywood.
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Netflix reversed customer losses that had hammered its shares this year and projected more growth ahead, reassuring Wall Street in the process.
Netflix has averted its own worst-case scenario of subscriber losses, posting a nearly one million drop from April to June.
Netflix could introduce its lower-priced, ad-supported subscription plan by the end of the year, earlier than originally planned.
Netflix’s revelation that it will introduce advertisements was met with a mix of shock, cheers and scepticism from the advertising community.
Losing customers for the first time in a decade, Netflix is throwing out all of its old rules.
Zoom’s remarkable share price surge in 2020 took a huge hit on Monday after Pfizer said the Covid-19 vaccine it’s developing prevented more than 90% of infections in a study.
Netflix posted its weakest subscriber gains in four years as streaming competition increased, pandemic restrictions eased and live sports returned to television.
About three years ago, Reed Hastings set out to answer a question that had bedevilled Hollywood for the past decade: How did a small DVD-by-mail company build the most popular TV service in the world?
Netflix on Thursday elevated its content chief Ted Sarandos to co-CEO, making the 20-year veteran of the pioneering streaming video service a clear successor to co-founder Reed Hastings.