STUDIOS' POSTPONE SPRING MOVIES, NETFLIX TOPS 200M SUBSCRIBERS
Updated: Feb 25
WEEKLY FILM INDUSTRY NEWS DIGEST, SUNDAY JANUARY 24TH
No Time To Die’ pushed to October, triggers Hollywood schedule shuffle
MGM has pushed No Time To Die from April 2 to October 8. Universal moved its Bob Odenkirk crime drama Nobody from February into the April 2 slot.
Universal’s Last Night In Soho directed by Edgar Wright and starring Anya Taylor-Joy has moved from April 23 to October 22.
Sony/Columbia Pictures pushed four of its tentpoles. Peter Rabbit 2: The Runaway from April 2 to June 11, Cinderella starring Camila Cabello and Idina Menzel from February 5 to July 16, Ghostbusters: Afterlife postponed from June 11 to November 11, Uncharted with Tom Holland and Mark Wahlberg has moved from July 16 to February 11, 2022. Sony also pushed its Marvel Entertainment adaptation Morbius from October 8 to January 21, 2022.
Netflix Beats Q4 Subscriber And Revenue Forecasts, Sees Cash-Rich Future
Netflix beat forecasts for subscriber growth and total revenue in the fourth quarter, adding 8.5 million subscribers to reach a global total of 203.7 million.
The wave of new subscriptions exceeded company guidance for 6 million new customers in the fourth quarter and caps a remarkable 2020, when Netflix added about 37 million subscribers. Revenue hit $6.6 billion, just a shade ahead of expectations. Earnings per share fell about 20 cents short of expectations at $1.19 a share, down from $1.30 in the year-earlier period…In a significant milestone, the streaming leader also said it expects to be cash-flow positive from 2021 onward and expects this year to be cash-flow neutral.
But: The headline growth in subs masked something International Insider spotted in the detail of Netflix’s shareholder letter. Netflix’s subscriber growth actually slowed in EMEA, despite skyrocketing streaming during lockdown and record levels of investment in the UK, where it spent $1B on shows including The Crown and The Witcher. Europe, Middle East and Africa subs rose 29% to 66.7M in 2020, which was a contraction on the growth rate of 37% the year before, when Netflix first started breaking out territory-specific data. By contrast, the U.S., Canada, and Asia-Pacific all grew at a faster rate than in 2019. It begs the question: Have we hit peak Netflix in some international territories?
Apple TV Plus’ Freeloader Problem: 62% of Subscribers Are on Free Offers
the majority of Apple TV Plus subscribers — a whopping 62% — said they were on the free promotional offer that Apple extended to buyers of its hardware devices, according to research firm MoffettNathan’s Q4 2020 SVOD Tracker report. What’s worrisome for Apple: 29% of those said they do not plan to resubscribe once the promo period expires; only 30% said they plan to renew at the regular $4.99/month price (and the rest were unsure).
U.S. Consumers Now Pay $47 Monthly for Streaming Services — Up 24% Since COVID Hit
About 49% of respondents on J.D. Power’s survey said that their households now subscribe to four or more streaming services. In April, that figure was 39%. In fact, 13% said they use as many as seven or more services (versus 8% in April 2020).Americans now subscribe to four streaming services on average, up from three at the outset of the COVID pandemic last year, according to a new J.D. Power survey. And they’re shelling out 24% more to get their on-demand fix: U.S. consumers spent an average of $47 per month in December 2020 on video subscription services, up from $38 in April.