22 -26 July: Your guide to what’s happening this week in the media, entertainment and technology industry.
Netflix shares fall 10%
In its latest report, Netflix has largely missed its growth targets, causing a 10% drop in the company’s share price. The company reported adding just 2.7 million subscribers worldwide in the last quarter, which fell short of its target to add 5 million subscribers. The Guardian reported that Netflix acknowledges the growing competition it faces from the likes of WarnerMedia and Apple launching streaming services of their own.
Wimbledon to monetise archive content
In a push to further secure future revenues, Wimbledon commercial executives are looking to make money from its archive content of match footage. According to The Financial Times, the sporting event made more than half of £256.7 million in income from broadcasters last year. Whilst TV is the main source of revenue, execs want to take Wimbledon’s content to other markets via digital platforms.
Manchester City launches OTT platform
In other sporting news, Premier League football team Manchester City have launched their own steaming service ’Man City for TV’, reported TVB Europe. The platform will allow fans to watch live stream matches and provide match replays for 24 hours after play. Man City for TV is available via Apple TV, Amazon Fire TV and Roku along with selected Smart TVs.
RTL announces new creative unit
European media group RTL has launched a new creative unit Format Creation Group to develop non-scripted formats exclusively for RTL broadcasters. According to Rapid TV News, the unit will focus on developing reality shows and factual entertainment.
Lord Hall speaks out on BBC TV license row
BBC Director-General Tony Hall has said he “resents” claims that the BBC is failing to honour its agreement with the government on free TV licenses for over-75s, ITV reported. Hall has said that the agreement was carried out “to the letter”
- Read more: BBC abolishes free TV licenses for over-75s