Netflix Plunge Deepens Nasdaq’s Correction

Plunging shares of Netflix Inc. and other streamers dragged the Nasdaq Composite Index deeper into correction territory Friday, as a selloff in government bonds and lackluster earnings have eroded demand for the once-highflying tech trade. The Nasdaq slid 2.7% Friday, capping the technology-heavy index’s worst week since March 2020. The losses extended the Nasdaq’s fall … Read more

Disney Chief Bob Chapek’s Pay More Than Doubled Last Year as Pandemic Strains Eased

Walt Disney Co. DIS 0.23% paid company chief Bob Chapek $32.5 million in total compensation for 2021, his first full calendar year at the helm of the entertainment and media conglomerate. Nearly half of Mr. Chapek’s pay came in the form of a $14.3 million cash bonus, according to a company filing Wednesday. The award … Read more

Netflix Is Expected to Log Smaller Profit as It Spends More on Content

Netflix Inc. is banking on its large slate of entertainment to bring in new subscribers and justify its heavy spending on content. The streaming platform is striving to achieve a balance between delivering must-watch programming that attracts new customers and retains others, while assuaging concerns on Wall Street about the company’s growing programming budgets. Source … Read more

Apple Says Senate’s Big-Tech Legislation Would Weaken Its User-Privacy Push

Apple Inc. AAPL -1.89% is warning that Senate legislation aimed at reining in large tech companies would weaken a privacy-protection tool that it rolled out last year and has already stung Facebook, Snapchat and other online-ad businesses reliant on user data to target messages. The Senate Judiciary Committee is set to debate a bipartisan bill, … Read more

YouTube Shuts Division for Original Programming

Google’s YouTube is folding its effort to create original programming and focusing on the millions of creators who populate the video platform with content. Chief Business Officer Robert Kyncl said Tuesday that the video platform would invest in live shopping programming, its Black Voices Fund and YouTube Shorts, its TikTok competitor. Its head of YouTube … Read more

Meet the Marketing Exec Who’s Been Making Her Mark at Apple, Uber and Netflix

In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here. In summer 2020, Bozoma Saint John landed a dream job as chief marketing officer of Netflix Inc. The streaming … Read more

DirecTV to Drop OAN Conservative News Channel

DirecTV said Friday it plans to drop conservative news channel One America News Network, a move that could sharply reduce the pro-Trump channel’s audience. “We informed Herring Networks that, following a routine internal review, we do not plan to enter into a new contract when our current agreement expires,” a DirecTV spokesman said in a … Read more

Netflix Raises Subscription Prices in U.S., Canada

Netflix Inc. raised the price for its monthly plans, the first such increase from the streaming platform since 2020. The monthly cost for its basic plan for U.S. customers rose $1 to $9.99, while its standard plan increased to $15.49 from $13.99 and the premium plan to $19.99 from $17.99. Source link

Chinese Regulator Flags a $50,000 Fine Against Walmart

A local Chinese regulator and state media highlighted this week a roughly $50,000 fine Walmart Inc. WMT -0.28% paid last year, keeping a spotlight on the U.S. retailer at a time of rising political tensions between Beijing and Washington. In recent weeks, Chinese authorities and media have criticized Walmart or touted past infractions. In late … Read more