Netflix is still reeling from its unexpected decline in Q1 subscribers, which led to a stock plummet of 35% and wiped more than $50 billion off of its market cap. The streaming giant’s disappointing results came as inflation remains high, consumers cut costs and competition intensifies, although one media mogul is not giving up on Netflix quite yet. “I don’t think Netflix has crashed — quite frankly, I think the market has overreacted,” Byron Allen, the founder and CEO of Entertainment… Source link
Read More »Media mogul Byron Allen’s firm inks multi-year cloud deal with Google
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Byron Allen, Founder, Chairman and CEO of Entertainment Studios and Allen Media Group, speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S., October 19, 2021. REUTERS/David Swanson Register now for FREE unlimited access to Reuters.com Register Jan 18 (Reuters) – Media entrepreneur Byron Allen’s Allen Media Group (AMG) struck a multi-year deal with Google Cloud on Tuesday, through which the Alphabet Inc-owned (GOOGL.O) company will provide cloud services to… Source link
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