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| Netflix's latest earnings report hit today, and though the password sharing crackdown seems to be working, the company says it's too soon to really know what kind of long-term impact it's going to have. Subscriptions still jumped by around 8% overall, so it seems like it must be good news. We're just waiting to see HOW good. Also interesting today, Korean shows and films are still having a breakout moment, now accounting for about 50% of all Asian streaming, according to a new report. After "Squid Game," there were a lot of articles about Korean content having its breakout moment, but I think there were also some questions about whether or not the industry could maintain that level of momentum. It seems Korean TV producers have put that concern to bed with a string of new hits over the last few years, from "Physical: 100" to "Extraordinary Attorney Woo." We'll be back tomorrow for the week's final edition. As always, thanks for reading! Lon
p/lon-harris | |
| 1 | | According to Netflix's quarterly earnings report, subscriptions jumped 8% in Q2 of 2023, with the streamer adding 5.9 million customers. The company reported revenue of $8.19 billion, up 3% from the same period in 2022. More: - The streamer said it was too early to fully gauge the success of either its ad-supported tier launch or its recent crackdown on password sharing; executives said to expect a revenue boost later this year.
- Netflix forecasted revenue of $8.5 billion, up 7% over 2022, in Q3.
- The company's stock fell around 8% in after-hours trading.
- In a letter to shareholders, Netflix explained that the current streaming marketplace is "intensely competitive," but assured shareholders the company can succeed through "strong execution and focus."
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| 2 | | YouTube increased the price of its Premium subscription plan for individual US users by $2. A Premium YouTube subscription now runs $13.99 per month. More: - This price increase is only for individual plans; the streamer raised the cost of shared/family plans in many countries last year, from $17.99 to $22.99.
- The price hike affects all current and new customers.
- YouTube Premium includes ad-free viewing, the ability to download clips, higher-quality 1080p streams, the ability to pick up and resume a video from where you last left off, and access to experimental features and YouTube Music.
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| A message from our sponsor, Muso. |  | | Tackling Piracy In Film & TV: "There were 29.6 billion visits to film piracy websites in the year ending March 31st 2023 - a 32.7% YoY increase." Protect your IP and revenues with a data driven strategy The piracy of film and TV content has evolved but content protection strategies have struggled to keep up. Piracy has grown rapidly since 2020 resulting in immeasurable losses to the M&E sectors. However, while piracy represents a major threat to revenue, piracy data presents a wealth of opportunities for broadcasters and rights-holders alike. MUSO's latest report provides global insights into the illegal demand for film and TV content and outlines how film and TV rights owners can employ a data driven strategy to combat IP theft and reboot their protection strategies. Download the report to discover: - The trends in global film and TV piracy
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| 3 | | DAILY CALENDAR THURSDAY, JULY 20 SWEET MAGNOLIAS: The drama series -- based on the books by Sherryl Woods -- chronicles the close, life-long friendship between three women in small-town South Carolina. JoAnna Garcia Swisher, Heather Headley, and Brooke Elliott co-star. It's back for a third season. [Netflix] SUPA TEAM 4: Debut animated comedy adventure series about four teenage girls living in a future version of Zambia, who are recruited to help save the world by a retired secret agent. The English-language production is Netflix's first-ever animated series from South Africa. [Netflix] SUPERPOWERED: THE DC STORY: Three-part docuseries examining the history and legacy of DC Comics, featuring interviews with a wealth of comic creators, along with the actors and filmmakers who have brought their stories to the big screen. Rosario Dawson narrates. [Max] GLITCH: THE RISE AND FALL OF HQ TRIVIA: Documentary from CNN Films, which debuted earlier this year on cable. It relates the story behind the once-popular HQ Trivia app, a "game show on your phone" in which daily live winners would split prize money. Former HQ hosts Scott Rogowsky and Sharon Carpenter participated in the film. [Max] MY MAGIC CLOSET (ALÉM DO GUARDA-ROUPA): Coming-of-age musical fantasy-drama series from Brazil, starring Sharon Blanche as a Korean-Brazilian teen who discovers that her enchanted closet allows her to make a direct connection with her favorite K-pop group. [Max] OLD MAN: 2022 direct-to-VOD thriller from director Lucky McKee ("May"). Marc Senter stars as a lost hiker who experiences a terrifying ordeal after meeting a strange old man (Stephen Lang) living alone in the woods. [Hulu] BLACK SANDS (SVÖRTU SANDAR): Dark crime drama series from Iceland, starring Aldis Amah Hamilton as a troubled young police detective who must confront her own past while investigating a series of murders in her hometown. [Viaplay] | | | |
| 4 | | Scandinavian streaming platform Viaplay announced plans to lay off 25% of its staff and exit several international markets, including the US and UK. The company will also consider a possible sale or other strategic options. More: - Jorgen Madsen Lindemann replaced Anders Jensen as CEO of Viaplay in June.
- Lindemann has warned that 2023 earnings and revenue will come in well below forecasts, requiring the company to take drastic cost-cutting measures.
- Viaplay ended 2022 with around 7.3 million subscribers; 37% of those are outside Nordic countries, largely in Baltic nations, the UK, Poland, and The Netherlands.
- Viaplay launched in the US and Canada earlier this year.
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| 5 | | Film and TV production in Los Angeles plummeted during the second quarter of 2023, due to the Writers Guild of America (WGA) strike. There were 6,566 total permitted "shoot days" in LA during Q2, down 28.8% from the same period one year ago. More: - The WGA work stoppage started on May 2; picket lines cut off access to a number of active sets and productions.
- Production in Los Angeles had already been in steady decline, as studios and streamers anticipated the potential strikes.
- The last time production levels in LA were this low was during the height of the COVID pandemic and lockdown.
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| 6 | | According to a new report from Media Partners Asia (MPA), content produced in Korea accounted for a full 50% of subscription VOD viewership throughout all of Asia in the first half of 2023. Korean shows and films also made up 42% of all viewership on Asian free ad-supported streaming platforms during the same period. More: - Overall, 58 million streaming viewers in Asia watched Korean content during the first quarter of 2023, setting a new record.
- Among the most popular shows were Netflix's "The Glory" and "Physical: 100," along with the anthology drama series "Taxi Driver," produced for the Viu platform.
- The report credits Korea's large domestic audience, combined with "massive reach" into other Asian markets.
- Shows from Korea had the highest engagement rate of programming from any country in nine Asian markets, ranking them ahead of content from the US, China, Thailand, India, or Japan in terms of popularity.
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| 7 | | QUICK HITS - Elevate your cloud expertise with the AWS Cookbook. Practical, concise, AWS-focused: This resource is your key to cloud success.*
- Comments from "The Witcher" executive producer Tomek Bagiński suggest that the Netflix fantasy series will enter the multiverse in Season 4, as a way to explain the recasting of lead character Geralt of Rivia; Liam Hemsworth takes over the role from Henry Cavill in S4.
- As strikes halt the production of new scripted content, Apple greenlit two nature docuseries: "Born to Be Wild" and "Endangered Planet."
- The Sony Pictures Television series "Twisted Metal" -- based on the video game franchise -- will stream on Paramount+ in Canada, starting in August; the action-comedy series hits Peacock in the US next week.
- The next original film from "The Binge" producers American High -- "Miguel Wants to Fight" -- debuts on Hulu on August 16; the coming-of-age comedy stars Tyler Dean Flores as a middle schooler determined to get into his first-ever fight.
- Apple ordered a drama series set at the iconic French fashion house La Maison; Lambert Wilson, best known to Americans as The Merovingian from "The Matrix" films, will star as designer Vincent LeDu.
- There are 12,000+ ways for small businesses to qualify, but finding out if you're approved takes only two minutes. Apply now with no obligation, and discover what refund you're entitled to.*
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INSIDE STREAMING LEADERBOARD (30 DAYS) |
 | Writer | | Lon Harris is the writer and editor of Inside Streaming and was the very first person to ever write an Inside newsletter. He lives in Los Angeles, California, and also writes about TV and film for Fandom, Screen Junkies, Rotten Tomatoes, Gamma Ray and others. Plus he has a Game of Thrones podcast called "Casterly Talk" and competes on The Movie Trivia Schmoedown as "The Professor." | | This newsletter was edited by Eduardo Garcia | |
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