Netflix gambles on gaming and podcasting
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 21 July 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Netflix gained 1.5m subscribers in the second quarter but lost 430,000 subscribers in the US and Canada, and UBS has launched a portfolio that invests solely in women-led hedge funds. Plus, the FT’s metals and mining correspondent, Henry Sanderson, talks about how the London Metals Exchange and the US-based CME Group are vying to capture rapid growth in demand for commodities tied to the electric car industry with new lithium futures contracts.
Netflix bleeds subscribers in US and Canada with no sign of recovery with Tim Bradshaw, global tech correspondent
https://www.ft.com/content/97ccbdab-6547-4d1b-bb3f-f251931901c2
UBS launches portfolio to invest in women-led hedge funds
https://www.ft.com/content/dab5a2b3-c083-411b-b2d1-969d6bcf862b
LME launches lithium contract as CME rivalry intensifies with Henry Sanderson, metal and mining correspondent
https://www.ft.com/content/5ff0aaa5-a501-42a5-85f4-76537cd6c990
French app Yuka brings people power to the supermarket aisle
https://www.ft.com/content/850d9f5c-b4ab-42d5-a53d-d25b3ae99c77
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Our intern is Zoe Han. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, July 21st. |
| 0:03.7 | And this is your FT News Briefing. |
| 0:08.8 | Netflix had a sluggish second quarter and things aren't looking up for the rest of the year either. |
| 0:14.1 | And UBS has a new investment portfolio made up exclusively of hedge funds run by women. |
| 0:20.1 | Plus demand for Lithium is soaring thanks to the electric car boom. |
| 0:24.1 | Now commodities exchanges are getting in on the market with new contracts for the metal. |
| 0:28.8 | It's very much like what happened in the oil market back in the 1970s. |
| 0:32.5 | You know, oil wasn't traded before that time. |
| 0:35.6 | So they're trying to centralize a great advanced market price. |
| 0:39.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:49.0 | Netflix was one of the big winners of the pandemic. |
| 0:52.4 | Subscriber numbers skyrocketed thanks to people being stuck at home. |
| 0:56.1 | But as the economy reopens, it has lost a bit of its mojo. |
| 1:00.3 | Yesterday, Netflix said in the latest quarter it lost more than 400,000 subscribers in the US and Canada. |
| 1:06.8 | Investors were also disappointed with the company's forecast that it would only add |
| 1:10.6 | three and a half million subscribers next quarter. |
| 1:13.7 | But Netflix does have a plan and it's not just about movies and TV. |
| 1:18.5 | The FT's Tim Bradshaw keeps a close eye on Netflix and he tells me what he's seeing. |
| 1:23.5 | Mainly, we've seen them make a couple of very interesting and specific hires. |
| 1:27.4 | First of all, into podcasting and then also into video gaming. |
| 1:32.5 | So they hired a lady called Najeri Eaton who was formerly of NPR radio and then spent |
| 1:38.9 | some time at Apple podcasts. |
... |
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