Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Entertainment Netflix

Netflix forges ahead in spite of financial woes (Photo by Justin Sullivan/Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Oct 12, 2022

A Comeback Tale For Netflix 

Netflix is aiming to purchase an old army base as a production facility, in order to increase its standing even as it faces financial woes. 

Key Details

  • The billion-dollar streaming company is angling to purchase 89 acres of former U.S. Army Fort Monmouth land in New Jersey and turn it into a production studio. 
  • Netflix is locked in a bidding war for the land, which was previously appraised at $54 million, although the company’s bid has not been publicly disclosed. 
  • “The tech giant has been selected as the top bidder for a piece of land occupied by a former Army base about 50 miles south of New York City,” reports The New York Times. 
  • Netflix has also announced that it will be reporting viewing figures in November as part of a deal with the Broadcasters Audience Research Board. 
  • “The figures will be used by journalists, advertisers, and competitors to assess the success or failure of Netflix’s offerings—a significant outcome since the platform is launching its new, cheaper, ad-supported subscription tier at the same time in a bid to boost subscribers after a bad year,” says Fortune.

Why it’s news

The two moves are brave for Netflix, which reported major losses earlier this year. The company reported losing 1 million viewers in the second quarter as the service was overtaken by its competitors in popularity. The company is positioning itself for more growth. 

“Netflix remains the world’s largest streaming service, but the company reported its first quarterly loss in subscribers in more than a decade earlier this year and warned that it expects to lose 2 million global subscribers in the second quarter. That would be the single largest quarterly loss in the company’s history,” says CNBC. 

Backing up a bit

Netflix must feel confident in its remaining viewership numbers if it is willing to publicly disclose them. Otherwise, the company would be disclosing embarrassing viewership numbers that could threaten the reputation of the company’s investments in original content. 

“In the past, Netflix has only released very limited audience data, revealing, for example, ranked lists of its most popular series and films, or global success stories like the smash hit Squid Game, which broke streaming records,” says Fortune.  

Increasing the company’s production capacity on the east coast would also signify that the company is looking to further invest in production and produce more original content to draw more viewers to the service. 

“[Netflix’s losses] did not affect its interest in the area, which it has been targeting since last year. The Fort Monmouth Economic Revitalization Authority appraised the parcel at $54 million, but several developers previously offered more than $100 million for just 89 acres of the 1,126-acre Army base,” says The New York Times. 

Home / News / A Comeback Tale For Netflix 
Share
FacebookTweetEmailLinkedIn

Related Stories

BYD Sees Explosive EV Growth

by Hannah Bryan Leaders Staff
Business

41 minutes ago

BYD passes Tesla

Chinese electric vehicle (EV) manufacturer BYD’s sales quintupled last year, surpassing industry leader Tesla.

Key Details

  • BYD has been competing with Tesla for its share of the EV market. Last year, its net income jumped more than 400% to around $2.4 billion.
  • In 2022, BYD sold around 1.86 million eclectic and plug-in hybrids, making up 30% of Chinese sales in the category. Approximately half of those sales were for fully electric vehicles. 
  • Tesla, by comparison, sold 1.31 million EVs last year. 
  • In 2022, BYD completely halted all fossil-fuel-powered vehicle production. 

Go deeper

FacebookTweetEmailLinkedIn

What Musk Calls the Most Serious Economic Issue

by Hannah Bryan Leaders Staff
Real Estate

60 minutes ago

the economic crisis

The economy is facing multiple challenges this year, but among the top issues is the condition of commercial real estate—at least according to Elon Musk. 

Key Details

  • A global capital markets newsletter, the Kobeissi Letter, reported that more than $2.5 trillion of real estate debt will mature in the next five years. 
  • “Refinancing these loans is going to be incredibly expensive and likely lead to the next major crisis,” the Letter tweeted. “The worst part? 70% of commercial real estate loans are owned by small banks. Rapidly rising rates are teaching everyone a valuable lesson. There's no such thing as ‘free’ money.”
  • The Letter blamed part of this impending crisis on rising interest rates. 
  • In response to the Letter’s comments, Twitter CEO Elon Musk tweeted, “This is by far the most serious looming issue. Mortgages too.”

Go deeper

FacebookTweetEmailLinkedIn

Small Outflows From Small Banks 

by Tyler Hummel Leaders Staff
Markets

About an hour ago

Banks

The ongoing banking crisis has created anxiety for depositors, but not enough money is moving to upset the financial system. 

Key Details

  • Friday’s Federal Reserve report on the banking system shows that deposits outside of the largest U.S. banks dropped by $108 billion, or 1.9%, the week after Silicon Valley Bank collapsed. 
  • Deposits at the 25 largest U.S. banks increased by $120 billion simultaneously. 
  • This amounts to the largest single-week drop on record for deposits, signaling that outflows from small banks are real but have not crippled operations for regional banks facing consumer anxieties, Axios reports. 
  • Fed Chair Jerome Powell mentioned on March 22 that “deposit flows in the banking system have stabilized over the last week.”

Go deeper

FacebookTweetEmailLinkedIn
meeting sabatoge
Company Culture

About an hour ago

CIA Lessons On How Not To Derail Meetings

by Hannah Bryan Leaders Staff
Business

3 hours ago

Changing Outlook For Ad Sales For 2023

by Savannah Young Leaders Staff
School Shooting
Social Issues

4 hours ago

Nashville Community Mourns Six School Deaths 

by Tyler Hummel Leaders Staff

Recent Articles

Productivity

Mar 27, 2023

84% of Workers Are Easily Distracted—Here Are 10 Tricks to Stay Focused

Learn to improve mental performance when you can’t stay focused.

Leadership

Mar 22, 2023

Creating Loyal Employees Is About More Than Just the Paycheck

If you think simply paying your employees more will gain their loyalty, think again.

Business

Mar 20, 2023

Worried About ADHD At Work? Here’s How It Might Actually Help You

Neurodivergent people often have a high level of creativity and innovative thinking.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com