Netflix finished Q3 with 4.38 million paid net subscriber additions, about 25% better than its July 20 forecast of 3.5 million, said its shareholder letter Tuesday. Net paid adds were up 99.1% from the 2020 quarter. Asia Pacific was the largest regional contributor with about half the Q3 growth. “We compete with a staggeringly large set of activities for consumers’ time and attention like watching linear TV, reading a book, browsing TikTok, or playing Fortnite, to name just a few,” said the letter. “As one example of this dynamic,” when Facebook experienced a global outage for several hours on Oct. 4, “our engagement saw a 14% increase,” it said. Netflix later in the year will shift "to reporting on hours viewed for our titles rather than the number of accounts that choose to watch them," said the letter. "We think engagement as measured by hours viewed is a slightly better indicator of the overall success of our titles and member satisfaction. It also matches how outside services measure TV viewing and gives proper credit to rewatching." Netflix will start to release "title metrics" more regularly outside of its quarterly earnings reports "so our members and the industry can better measure success in the streaming world," it said.
ViacomCBS and Altice's carriage agreement includes rights to access the programmer's streaming services, ViacomCBS said Monday. It said it and Altice will continue to collaborate on addressable media and advanced advertising.
Fubo Sportsbook, a mobile betting experience, became an authorized gaming operator of NASCAR, it said Thursday: This includes a multichannel marketing campaign with at-track assets, in-app use of NASCAR-owned track, series and event marks and logos, plus distribution across NASCAR’s platforms and events. Fubo Sportsbook is expected to launch in Q4.
Lionsgate will handle distribution of Redbox Entertainment titles across home entertainment windows, plus subscription VOD licensing for select titles under the Redbox brand, they said Thursday. The companies are also partnering on an agreement to license films and TV series from Lionsgate’s 17,000-title library to Redbox’s advertising-supported VOD service and free ad-supported TV services.
Discovery+ is available on LG's U.S. smart TVs, said the TV maker Wednesday: Users can access the streaming service through LG's webOS platform via app or by voice using the LG Magic Remote. Discovery+ is $4.99 monthly with advertisements, $6.99 ad-free.
About four in 10 over-the-top video watchers access services based on specific content that’s available, said Parks Associates Tuesday. "Content is key to OTT success," and a perceptive and intelligent content discovery strategy is a key differentiator in attracting, engaging and retaining subscribers, said analyst Paul Erickson. The inability to find relevant content is a top reason consumers leave a service, Erickson said.
U.S. Roku monthly active users will increase 11.5% this year to 111.7 million, with growth slowing in 2022 as the market becomes more saturated, eMarketer forecast. Amazon Fire TV is “catching up,” with 15.4% growth projected for 2021, reaching 97 million monthly active users, the report said Tuesday. Roku has 51.7% of connected TV users vs. Amazon’s 45% and Apple TV's 13.1% penetration, it said, accounting for customers with multiple services.
Regional sports network AT&T SportsNet Rocky Mountain joins fuboTV's lineup through a carriage agreement announced Tuesday. This includes Utah Jazz, Vegas Golden Knights and Colorado Rockies regional games.
Video cord cutting could mean a $33.6 billion drop in annual revenue for U.S. multichannel services 2021-25, with DBS and telcos having the steepest decline, S&P's Kagan said Wednesday. It's projecting subscription revenue for MVPDs going from $91.1 billion this year to $64.7 billion in 2025. It said cable revenue should stay relatively stable.
The Cleveland Cavaliers and Fubo Gaming announced a long-term partnership, the FuboTV subsidiary’s first with an NBA franchise. The partnership will promote the Fubo Gaming brand through a marketing campaign over TV and radio broadcasts and an activation on the Cavaliers’ digital and social channels, they said Wednesday. Fubo Gaming expects to launch second-screen sports betting in Q4, subject to regulatory approvals.