Netflix rallies despite subscriber losses
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 July 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Netflix loses 1mn subscribers, small and midsize venture capital firms in China are struggling to raise funds as foreign investors flee risk, and former Brazilian President Luiz Inácio Lula da Silva is running to be the country’s head of state again, in what could be an extraordinary political comeback.
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Mentioned in this podcast:
Netflix loses 1mn subscribers but defections are fewer than feared
‘Exponentially’ risky China leaves venture capital funds starved of cash
FT interview: Brazil’s Lula on the prospects of an extraordinary comeback
Judge grants Twitter fast-track trial to decide fate of $44bn Musk deal
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.5 | Today is Wednesday, July 20th, and this is your FT News Briefing. |
| 0:18.6 | Netflix shares Rose, like a lot, even though the streaming service lost subscribers last quarter. |
| 0:25.7 | Chinese venture capital firms have become strapped for cash. |
| 0:29.6 | Plus, Jair Bolsonaro is taking on a very familiar face in this year's Brazilian election. |
| 0:34.6 | We'll hear what Luis and Asiolula do silver plans to do a few wins. |
| 0:38.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:48.3 | Netflix yesterday said it lost a million subscribers last quarter, but it wasn't as bad as what |
| 0:54.1 | the streaming giant had predicted, thanks in part to Vecna and the kids over at Stranger Things. |
| 1:00.2 | I was right. Seriously, you're serious? This is Skull Rock. |
| 1:09.1 | The streaming service said it would gain subscribers this quarter, but not at the |
| 1:12.9 | Peace Wall Street predicted. The focus on subscriber numbers comes after Netflix |
| 1:17.6 | spooked the entertainment industry back in April, then it said its decade-long subscriber |
| 1:22.6 | boom was over. Yesterday's report revived some confidence. Netflix shares jumped more than 6%. |
| 1:29.4 | And after hours trading. |
| 1:37.3 | Global investors have poured a lot of money into Chinese venture capital firms, |
| 1:41.7 | and it helped fuel the country's tech startups. But now, all those pension funds and sovereign |
| 1:46.8 | wealth funds are pulling back from China. They're worried about more government crackdowns on tech, |
| 1:52.1 | more COVID lockdowns, and even sanctions. As a result, Chinese VCs are scrambling for cash. |
| 1:59.8 | What we've heard from people in the industry is that a lot of the newer funds in the |
... |
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