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Netflix looks to video games to boost growth

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Global streaming giant Netflix on Tuesday said it added more subscribers than expected in the recently ended quarter and will add video games to its entertainment mix to fuel growth.

The company ended the second quarter with 209 million paid subscribers and revenue of $7.3 billion, some 19 per cent higher than the same period a year earlier, according to an earnings release.

Profit was reported at $1.35 billion as compared to $1.7 billion in the preceding quarter. The net income figure missed market expectations.

The streaming leader said the pandemic had “created unusual choppiness” in its results after strong growth last year during the pandemic, which has now subsided.

Netflix said it is continuing to invest in content as production recovers from pandemic-caused delays, and that it is “in the early stages of expanding into games.”

“We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV,” the streamer said.

“Games will be included in members’ Netflix subscription at no additional cost similar to films and series.”

Netflix shares were up slightly in after-market trades following the release of the earnings figures.

Game on

Netflix seems to have reached a saturation point in the United States in terms of reaching households, but has been nevertheless able to raise prices and increase revenue in the US market, according to eMarketer senior analyst Eric Haggstrom.

“Expansions into video games, audio and merchandise may drive some incremental growth, but ultimately growth in subscribers and revenue should be much lower than in the past,” Haggstrom said.

And he noted that Netflix had lost a bit of market share to relative streaming upstart Disney+, which is only in its second year.

Netflix recently recruited a video game veteran from Facebook to lead its gaming team.

Mike Verdu was hired to take charge of video game development at the Silicon Valley company, which has openly said hit games such as Fortnite are its competition for people’s online entertainment time.

Netflix has dabbled with games before, releasing an interactive “Bandersnatch” episode of original series “Black Mirror” and also a free mobile game spinning off its hit show “Stranger Things.”

The company has slowly added video game talent, but Verdu is a high-profile recruit that could signal ramped up plans.

With the global gaming market now exceeding $300 billion, according to an April study by consulting firm Accenture, Netflix’s move would open a new and highly lucrative stream of revenue for the tech giant.

“Mobile will be first and included in the Netflix subscription,” Loop Ventures manager partner Gene Munster said in a tweet.

“Smart move to retain and inch up paid subscriptions. Overall there are about 2B global monthly gamers.”

Netflix’s push into video games plays to its strengths of storytelling and content creation, and is intended to help the core subscription service grow, according to executives.

“We really see this as an extension of the core entertainment experience we’ve been focused on for the last 20 years,” Netflix chief product officer Greg Peters said on an earnings call.

“This is going to be a multi-year effort; we are going to start relatively small.”

Netflix chief executive Reed Hastings has repeatedly emphasized that the company’s main competitors are not just other big-name streamers like HBO Max, Hulu or Disney+ but also other online and mobile entertainment platforms.

“In the race to entertain consumers around the world, we continue to compete for screen time with a broad set of firms like YouTube, Epic Games and TikTok (to name just a few),” Netflix said in the earnings release.

Netflix pointed to Amazon’s pending purchase of storied MGM studios for $8.45 billion as an indicator of consolidation in the industry, but said it did not expect the move to hamper growth of its streaming service.

— AFP

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Crime

President of influential Japanese talent agency resigns amid confirmation of founder’s decades-long sexual abuse

The president of a renowned Japanese entertainment agency, Johnny & Associates, has resigned following an independent investigation substantiating allegations of sexual abuse by the company’s founder, Johnny Kitagawa, spanning over five decades since the 1970s. Despite long-standing accusations, media largely ignored them until a BBC documentary in March brought renewed attention to the issue. Kitagawa’s niece, Julie Keiko Fujishima, who has served on the company’s board since 1998 and became president in 2019, resigned from her position. Noriyuki Higashiyama, a singer and actor not subjected to Kitagawa’s abuse, is set to become the new president, pledging reforms within the company. Kitagawa’s accusers are considering legal actions in Japan and abroad. Johnny & Associates continues to manage influential musical acts in Japan’s entertainment industry.

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JAPAN – The president of a prominent Japanese entertainment agency has stepped down following an independent investigation that substantiated allegations of sexual abuse by the company’s founder, Johnny Kitagawa, spanning over five decades since the 1970s.

These accusations, which had circulated for years but were largely overlooked by the media, have gained renewed attention since the release of a BBC documentary in March. The documentary featured interviews with three of Kitagawa’s accusers and prompted more individuals to come forward.

Kitagawa, renowned for his role in nurturing aspiring talents to stardom in Japan’s pop music industry, enjoyed a reputation as a hitmaker associated with several popular boy bands.

Despite longstanding allegations against him, Kitagawa remained unscathed by scandal throughout his life, even after his passing in 2019 at the age of 87.

The hourlong BBC documentary, featuring interviews with survivors of abuse by Kitagawa, triggered a wave of condemnation and encouraged additional victims to share their stories.

The ensuing public pressure compelled Johnny & Associates, Kitagawa’s family-run entertainment company, to take action.

In May, the company announced the formation of an internal investigative panel with the aim of preventing future abuse.

In a recent news conference, Julie Keiko Fujishima, Kitagawa’s niece, acknowledged the investigation’s findings and offered apologies on behalf of herself and the company.

She also announced her resignation as the company’s president, citing a sense of responsibility for her uncle’s actions.

Fujishima, the sole owner of the company, will continue to serve as a board member responsible for relief and compensation efforts.

The investigation’s report, released in late August, confirmed hundreds of cases of abuse by Kitagawa spanning more than 50 years.

It attributed his impunity to a lack of corporate governance within the company and media complicity in overlooking the allegations.

The report also implicated Kitagawa’s sister, Mary, who passed away in 2021, in covering up his behaviour and shielding him from consequences.

Despite the substantiated accusations, no criminal charges were ever filed against Kitagawa, who consistently denied the allegations throughout his life.

Fujishima, who has served on Johnny & Associates’ board since 1998 and was appointed president in 2019, has stepped down from her position.

She stated that she had no direct knowledge of Kitagawa’s abusive behaviour and had limited personal interactions with the agency’s performers before his death.

While she was aware of allegations against Kitagawa, she admitted that, at the time, she “couldn’t imagine taking any action.”

Noriyuki Higashiyama, a singer who gained fame through Johnny & Associates and later became a successful actor and news anchor, will succeed Fujishima as the new president.

Higashiyama, who was not a victim of Kitagawa’s abuse, stated that he had no prior knowledge of the abuse happening to others, although he had heard rumours.

In his remarks, he pledged to bring about reforms within the company, describing Kitagawa as a father figure.

During a separate news conference, Kazuya Nakamura, an aspiring performer who accused Kitagawa of abusing him, expressed mixed feelings about the company’s acknowledgment of guilt.

While he described it as feeling like a dream, Nakamura questioned the sincerity of the company’s commitment to change.

He pointed out that appointing Higashiyama, who was one of Kitagawa’s top stars during the period of abuse, raised doubts about the company’s dedication to reform.

Some of Kitagawa’s accusers are contemplating filing civil and criminal complaints against the company in Japan, as well as pursuing civil suits abroad, where some of the abuse allegedly occurred.

Kitagawa, once regarded as the king of Japanese boy bands, created numerous influential pop groups that dominated the J-Pop music scene.

Boys as young as nine were recruited, lived together in dormitories, and were trained to become pop idols.

Despite the revelations and resignations, Johnny & Associates maintains its influential position in managing some of Japan’s most popular musical acts within the entertainment industry.

The company has retained its name, at least for the time being, as announced by Higashiyama.

Rumours surrounding Kitagawa’s behaviour initially surfaced in 1999 when the tabloid Shukan Bunshun reported on anonymous accounts of abuse.

However, most news outlets largely ignored the story, and Kitagawa successfully won a libel lawsuit against the publisher of Shukan Bunshun.

Subsequently, the damages awarded were reduced on appeal to 8.8 million yen (approximately US$60,000).

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Entertainment

Chow Yun-fat, the luminary of Asian entertainment industry to be honoured at Busan International Film Festival

Hong Kong film icon, Chow Yun-fat, is celebrated as Asian Filmmaker of the Year at BIFF, marking another milestone in his extraordinary career.

With roots in Lamma Island, Chow’s rise to cinematic prominence showcases his unparalleled versatility.

His achievements parallel Hong Kong actors’ increasing global acclaim, solidifying the region’s impactful cinematic presence.

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HONG KONG, CHINA: Amid the glittering lights and bustling energy of the upcoming Busan International Film Festival (BIFF), a star will shine even brighter this year.

Hong Kong’s beloved icon, Chow Yun-fat, is crowned the Asian Filmmaker of the Year, a well-deserved accolade that adds yet another gem to his illustrious career.

This honour arrives as the second instance of international recognition for a Hong Kong actor in a single week, following Tony Leung Chiu-wai’s Golden Lion for Lifetime Achievement at the Venice Film Festival.

With humble beginnings on the outlying Lamma Island of Hong Kong, Chow Yun-fat has gracefully ascended to the pinnacle of global cinema.

The Asian Filmmaker of the Year award is a testament to his remarkable contributions to the local film industry and his instrumental role in catapulting Hong Kong gangster films to international prominence.

From his early days in cinema to his latest cinematic endeavours, Chow Yun-fat’s journey has been nothing short of extraordinary.

The accolade bestowed upon Chow Yun-fat by BIFF is presented to a professional or organisation within the region that has made an extraordinary contribution to the development of Asian film industry and culture.

The festival organisers lauded Chow’s leadership during the golden era of Hong Kong cinema, a period marked by remarkable creativity and innovation that catapulted the city onto the global cinematic stage.

Chow Yun-fat’s versatility as an actor knows no bounds, his acting transitioned fluidly from action-packed roles to heart-wrenching melodrama, from side-splitting comedy to gripping historical drama. He is the embodiment of a multifaceted artist whose talent has transcended borders, making him the most sought-after actor in Asia.

Over his illustrious career, which began in 1976, Chow has graced the silver screen in over 100 films, leaving an indelible mark with each performance.

His notable works include “The Story of Woo Viet,” “All About Ah-Long,” “God of Gamblers,” “Once a Thief,” “Curse of the Golden Flower,” “Let the Bullets Fly,” and “Project Gutenberg.” He has clinched three Best Actor titles at the Hong Kong Film Awards and two at Taiwan’s Golden Horse film awards.

To celebrate Chow Yun-fat’s remarkable achievements, the festival will screen three of his iconic works: “A Better Tomorrow,” “Crouching Tiger, Hidden Dragon,” and his latest cinematic endeavor, “One More Chance.” These films serve as a testament to his enduring legacy in Asian cinema.

Often referred to as the “Cannes of Asia,” BIFF has been a cultural milestone, known for discovering and nurturing new talent who have gone on to become influential voices in Asian cinema.

Established in 1996 in the vibrant southern port city of Busan, South Korea, the festival’s history mirrors the ascent of the modern Korean film industry, which rose to international prominence in the late 1990s.

Chow Yun-fat’s recognition as Asian Filmmaker of the Year follows in the footsteps of Tony Leung Chiu-wai, who earned this prestigious honour last year.

Tony Leung made history just last week by becoming the first Chinese actor to receive the esteemed Golden Lion for Lifetime Achievement at the Venice Film Festival.

In response to the award, Hong Kong Secretary for Culture, Sports, and Tourism Kevin Yeung Yun-hung expressed his heartfelt congratulations to Chow Yun-fat.

He commended Chow for his exceptional acting prowess, diverse repertoire, and the timeless characters he has brought to life. Yeung also praised Chow’s genuine nature and accessibility, which have endeared him to the people of Hong Kong.

Hong Kong actors have been shining on the global stage, garnering international acclaim and awards in recent years. Yeung reaffirmed the government’s commitment to supporting the film industry’s sustainable development.

Chow Yun-fat is expected to accept the prestigious award in person next month, an event eagerly anticipated by fans and industry peers alike.

The 10-day festival, starting on 4 October, will screen 209 films from 69 countries in its official selection, including 80 world premieres.

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