Niche Streaming Services Want to Be Part of Your Bespoke Bundle
*By Conor White*
One of Netflix's most beloved features may also be a reason the service is losing viewers, at least in the short term. That's according to Alan Wolk, co-founder at media research firm TV{R}ev.
In an interview Tuesday on Cheddar, Wolk pointed to FOMO ー or in Netflix's case, the lack thereof ー for subscribers.
"If all your friends are watching 'Westworld', then you might think, 'Hey, I want to watch this too, even if this other show on Netflix might be slightly better targeted to me,'" he said.
Netflix is [expected to spend](https://www.indiewire.com/2018/07/netflix-original-content-spending-13-billion-1201981599/) as much as $13 billion in 2018 on original content ー some of that could go towards the next "Stranger Things" or "The Crown", but much will likely create super-niche offerings that don't attract broad audiences.
And unlike broadcast or cable, all of Netflix's content ー whether it has a broad appeal or not ー is available to stream at any time, so there isn't necessarily a sense of urgency for viewers to watch right away.
That might be part of the reason the company added 600,000 fewer subscribers in its latest quarter than analysts were expecting. Shares [dropped](https://www.barrons.com/articles/netflix-earnings-stock-tanks-on-weak-subscriber-adds-1531772206) roughly 14 percent after the company reported its second quarter results. It also faces stiff competition from the likes of Amazon, Hulu, and [maybe Walmart](https://cheddar.com/videos/walmart-gets-serious-about-streaming) in the coming years.
Wolk said the spend-on-original-content strategy is a risky one.
"It's a big ask for people to invest in a brand new show," he said.
For full interview [click here](https://cheddar.com/videos/dc-enters-streaming-fray).
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
