|Day's Range||0.6900 - 0.7200|
With cord-cutting accelerating and the range of streaming video options expanding, the time has come to back away from most U.S. telecom and cable stocks, HSBC analyst Sunil Rajgopal says.
Traditional sports team owners say they are seeing crossover benefits from investing in esports, applying lessons they learn from one realm to the other.
Amid the rapidly changing video landscape and uncertainty over T-Mobile US Inc.’s pending merger with Sprint, only one U.S. telecommunications name still has room for upside, according to HSBC.
Mo'Nique is unhappy with the offer she received from the streaming service for her comedy special, compared with what other comics have received.
Concern about competition and the changing content business model in the industry drove the rating moves by analyst Sunil Rajgopal.
Roku stock has already recovered from its post-Q3 earnings release selloff after bullish streaming TV investors snatched up a perceived buying opportunity. But the streaming TV stock might have even more room to run...
Launched on Tuesday, Disney+ is the media and entertainment giant’s splashiest foray into the increasingly crowded world of streaming video. Disney stock (ticker: DIS) was up 4.8% on the news on Wednesday afternoon. (NFLX) (NFLX), which risks losing market share to the extent that Disney+ and other new services succeed, saw its shares drop 2.7%.
U.S. Supreme Court justices on Wednesday expressed sympathy toward allowing comedian and producer Byron Allen to pursue his racial bias lawsuit accusing cable television operator Comcast Corp of discriminating against black-owned channels. Over the course of an hour of oral arguments, however, the justices struggled over whether a lower court that cleared the way for the $20 billion lawsuit against Comcast to proceed had reviewed the case under the proper legal standard. At issue in the litigation is the refusal by Comcast to carry channels operated by Entertainment Studios Networks, owned by Byron Allen, who is black.
The founder of U.S. television production company Entertainment Studios alleges Comcast conspired to keep African-American owned networks off of its cable systems.
(Bloomberg Opinion) -- Netflix Inc. broke the cable-TV bundle. Now it’s time to put it back together again, and cable giants like Comcast Corp. look eager to help.It’s true that streaming has created more choices for consumers. You don’t necessarily need to subscribe to a $100-a-month cable package just to access kid-friendly Disney programs or re-runs of “The Big Bang Theory” (or pay extra for the ability to DVR the episodes you’ll miss). There are on-demand apps for both of those now — Disney+, which launched on Tuesday, and HBO Max, which becomes available in May. At the same time, one major consequence of the streaming wars is that they’ve caused a new kind of consumer frustration. It feels like everything is becoming segregated across various services with their own individual paywalls. That requires knowing which TV programs and movies reside where, having to toggle among those different apps — which isn’t as smooth as simply channel-surfing — and managing multiple monthly subscriptions. Sign up for enough of them, and it can easily add up to the cost of good old cable, especially given that a strong internet connection is a necessary component. It’s a situation that’s unsustainable, and already the media and cable giants seem to be eyeing the reintroduction of bundles to make things easier on consumers (and to make their subscriptions stickier).As Comcast’s Matthew Strauss put it, "The great un-bundling could give birth to the great re-bundling.” He should know. Strauss is the former executive vice president of Comcast's Xfinity Services; he was recently put in charge of Peacock, the company’s own streaming product set to launch in April with content provided by its NBCUniversal sports and entertainment division. It will join Netflix, Disney+, Apple TV+, Amazon Prime Video, HBO Max and many more in the new streaming marketplace."How could someone possibly navigate all these apps? That's not how you watch TV,” Strauss said in a phone interview in September. “My prediction is that we're going to come full circle."Strauss and I were on the topic because Comcast had just made something called Xfinity Flex free to customers who subscribe to the company’s internet services but not its cable-TV packages. Flex is essentially a dashboard where users can access streaming subscriptions. It’s a lot like the home screen shown when powering up a Roku, Apple TV or Amazon Fire TV Stick — a display of tiles teasing different programs or services. The Xfinity X1 cable service is still front and center for Comcast, but Flex is a sign that the company is at least exploring how to cater to what may some day be a mostly internet-only customer base. While it may not be a bundle, it’s not hard to make the leap and envision a day when Comcast tries to offer bundles of streaming apps to its internet subscribers, serving as the go-between for programmers and customers just like it does in the cable world. Walt Disney Co. is already providing some evidence that it’s thinking the same way. As I noted in my column Tuesday, the entertainment giant recognizes that many viewers want more than a single app dedicated to superhero flicks and G-rated content. That’s why, alongside the launch of Disney+, it also began offering a $13-a-month bundle that tacks on Hulu and ESPN+. While Apple Inc.’s own original works such as “The Morning Show” can be watched with an Apple TV+ subscription, the company also has separately taken to aggregating rival apps in Apple TV Channels, where users can sign up on an a-la-carte basis. Similarly, Amazon.com Inc. has Prime Video and Amazon Channels. These aggregation efforts could all be precursors to bundling.Charter Communications Inc. CEO Tom Rutledge, during a September investor conference, discussed the challenges for so-called direct-to-consumer businesses — such as Disney+, CBS All Access, and so on — that traditionally haven’t had to deal directly with subscribers because the cable giants had typically maintained those relationships. Suddenly, programmers are having to handle billing and service issues and come up with customer-retention strategies. (Disney got a taste of this Tuesday, when its brand-new app was hit by technological glitches.) “All of those activities we do on behalf of traditional pay-TV vendors,” Rutledge said. It’s very hard to get “economies of scale in the direct-to-consumer marketplace like we’ve gotten out of the historic business.” That certainly sounds like someone who’s ready to negotiate some new distribution partnerships. Direct-to-consumer is industry jargon referring to how a streaming app bypasses the traditional distributors — flying directly past Charter and Comcast to the end user. So wouldn’t it be something if the winners of the streaming wars turned out to be none other than the cable companies? At the very least, remnants of their bundling model are sure to live on in streaming.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Hive has raised about $10.6 million in series A funding, bringing total funds to $16.7 million since it first launched in 2015.
Netflix's co-founder and first CEO explains why media companies have no choice but to go "all in" on the streaming wars as Disney+ officially launches.
Associate Stock Strategist Ben Rains dives into some of Disney's recent quarterly results, before we look at Disney+ and discuss which company, from Netflix to Amazon might win the streaming TV war...
The winter holidays in Central Florida are known for cooler weather, decorations and, of course, the food — and Universal Orlando Resort is sharing what it's cooking up for this holiday season. The theme park giant, owned by Philadelphia-based Comcast Corp., now offers a peek at what's on the menu across several venues for these coming months.
The spring 2020 season on International Drive will be electric with yet another new hotel property debut. Universal Orlando Resort, which is part of Philadelphia-based Comcast Corp. (Nasdaq: CMCSA), has revealed it will welcome its first guests to the new Dockside Inn & Suites on March 17, 2020. The 2,050-room resort, which will open 1,025 rooms ready in March and have the other half ready by the end of 2020, is part of the Universal's Endless Summer Resort property that also includes the 750-room Surfside Inn & Suites, which opened this past summer.
(Bloomberg) -- With Comcast Corp.’s fight against media mogul Byron Allen’s racial-discrimination lawsuit about to reach the Supreme Court this week, a congressman has weighed in with a call to dismantle the cable and entertainment giant.Allen, the former comedian who controls Entertainment Studios Inc., alleges that Comcast’s unwillingness to carry most of his cable channels is discriminatory. The U.S. Court of Appeals for the Ninth Circuit ruled in June that the suit could go forward, and the Supreme Court agreed to hear Comcast’s appeal of that ruling.At issue is Comcast’s agreement to carry independent TV networks as a condition of its 2011 acquisition of NBCUniversal. Allen maintains that Comcast’s refusal to carry Entertainment Studios networks such as ES Lifestyle Network, Comedy.TV and Cars.TV violates the memoranda of understanding reached under the deal.Representative Bobby Rush agrees. “Simply put, it is my belief that the Comcast Corporation needs to be broken up,” the Illinois Democrat said in a letter to Chief Executive Officer Brian Roberts. “Comcast’s decision to ignore the memoranda illustrates a careless disregard of minority communities and their interests.”Read more: Supreme Court to Consider Curbing Racial Discrimination ClaimsIt’s unclear under what mechanism Rush would push for a breakup of Comcast.Allen said he pitched his channels to Comcast at the time of the merger approval, to no avail. “This is what everyone feared about their merger,” he said in a phone interview.Comcast has “gone above and beyond the MOUs from the NBCUniversal transaction in every case,” said a company spokesman, adding that Allen chose not to participate in its memoranda-of-understanding process. “There is no major media company in America that has done more to promote diverse programming than Comcast.”The spokesman said Comcast carries black-owned channels such as Sean Combs’s Revolt and Magic Johnson’s Aspire. It also carries the Weather Channel, which Entertainment Studios bought last year for $300 million, under an agreement that predates the acquisition.Allen said Comcast had told him he didn’t need to participate in the memoranda-of-understanding process because it had his information from previous submissions. He said he didn’t press the issue because he believed the process to be fraudulent.Allen has based his lawsuit on Section 1981 of the Civil Rights Act of 1866, a provision barring racial discrimination in contracting. The Ninth Circuit didn’t rule on the merits of his claim but said Allen only needed to show that racial discrimination was a “motivating factor” in Comcast’s decisions not to carry his channels.Comcast said it is asking “that Section 1981 in our case be interpreted the same way it has been interpreted for decades across the country.”\--With assistance from Greg Stohr.To contact the reporter on this story: Kamaron Leach in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Deepti Kapoor was pushing 40 and her writing career had struggled to rise above the ordinary. Ms Kapoor freelanced for websites like HuffPost, writing blog posts such as “I was a party girl, but yoga saved me from myself”.
The U.S. Supreme Court on Wednesday will a hear a dispute that pits Comcast, America’s biggest cable company, against an African-American TV mogul accusing it of racial bias because it declined to carry any of his channels.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Comcast Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Comcast today announced the opening of its newest Kansas City area Xfinity Store in Olathe, Kansas, planned for Thursday, Nov. 14 at 9 a.m. Located in the popular Olathe Station center, this interactive retail and product demonstration showroom is designed entirely around the customer experience, providing an opportunity to explore and interact directly with the latest Xfinity products and services. The Olathe Xfinity Store is the latest opening from Comcast, which has been transforming its retail centers across the country to provide a more interactive and convenient customer experience.
Penske is buying Indianapolis Motor Speedway, IndyCar Series and IMS Productions, and has no plans to sell his racing team.