The lawsuit never mentions the figure $1.5 billion that was widely ceased upon, and instead, opts for – “amount to be proven at trial.”
Relativity filed a $1.5B lawsuit against Netflix claiming breach of contract and trade libel, which a Netflix’s spokesperson called “baseless and ironic.”
Netflix reported subscriber data at the close of business on Monday that significantly outperformed expectations. The stock soared – closing up 19.62%.
Relativity could soon hold the dubious distinction of becoming the fastest company in U.S. corporate history to go bust after restructuring.
“Disney, which is very good in China, had their movie service shutdown. Apple had their movie service closed down. It doesn’t look good.” – Netflix CEO
At The New Yorker’s TechFest event last Friday the CEO of Netflix attacked the theater owners for the lack of innovation in the film business.
China’s online video market is massive: there are 660 million internet users, and 75% of those consume video content online. However, the SVOD model is new.
Will the US studios finally cut off Netflix from licensing their content now that it is subsidizing Netflix’s greater expansion into original content?
Brazil lost 600,000 subs over the last six months of 2015. It’s no surprise that Netflix’s growth has been spectacular. Sky lost 300,000 in the same period.
Netflix’s top executive endorsed the pending $55B Charter and Time Warner merger, saying he views it as a positive development for streaming video.