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Coronavirus: Netflix adds 16M subscribers worldwide amid COVID-19 pandemic – Global News

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Netflix picked up subscribers in Canada to add nearly 16 million global customers during the first three months of the year, helping cement its status as one of the world’s most essential services in times of isolation or crisis.

The quarter spanned the beginning of stay-at-home orders in the U.S., Canada and around the world, a response to the coronavirus pandemic that apparently led millions to latch onto Netflix for entertainment and comfort when most had nowhere to be but home.

Netflix more than doubled the quarterly growth it predicted in January, well before the COVID-19 outbreak began to shut down many major economies. It was the biggest three-month gain in the 13-year history of Netflix’s streaming service.


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The numbers — released Tuesday as part of Netflix’s first-quarter earnings report — support a growing belief that video streaming is likely to thrive even as the overall U.S. economy sinks into its first recession in more than a decade.

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Over the past year, Netflix’s growth in the U.S. and Canada had slowed significantly. But the pandemic seems have to have reversed that trend for the moment. Netflix added 2.3 million subscribers in the U.S. and Canada in the first quarter, up from 1.9 million at the same time last year.

However, it’s unclear from the way Netflix discloses its numbers how many of the new subscribers are from Canada. The company briefly provided figures at the end of 2019 which shed light on its customer base across the country, but it now prefers to lump its operations into regions.






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The company has previously said Canada represents roughly 10 per cent of its North American subscriber base, which would suggest it grew its subscribers here by 230,000 in Canada during the quarter, which compares to 125,000 paid sign-ups during the fourth quarter that ended Dec. 31, 2019.

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“We’re acutely aware that we are fortunate to have a service that is even more meaningful to people confined at home, and which we can operate remotely with minimal disruption,” Netflix said in a statement.

Investor optimism about Netflix’s prospects propelled the company’s stock to new highs recently, a sharp contrast with the decline in the broader market.

Netflix’s shares initially surged in after-hours trading after the first-quarter report came out, then drew back. The strengthening dollar will likely depress the company’s revenue from outside the U.S., including some of its fastest growing markets.

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That’s one reason Netflix’s revenue only climbed 17 per cent from last year to US$5.8 billion, even though it ended March with nearly 183 million worldwide subscribers, a 23 per cent increase from the same time last year. Netflix earned US$709 million in the first quarter, nearly triple from last year.

Netflix shares edged up by less than one per cent in Tuesday’s extended trading to US$437.37, leaving them below last week’s record high of US$449.52.

Even though it faces plenty of competition, Netflix appears better positioned to take advantage of the surging demand for TV shows and movies largely because of its head start in video streaming.

Since beginning its foray into original programming seven years ago, Netflix has built up a deep catalogue that can feed viewer appetites even though the pandemic response has shut down production on many new shows.






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That stoppage could hurt Netflix as well, although analysts at Canaccord Genuity believe its video library will serve as a “content moat” that can keep most competitors at bay.

Ted Sarandos, chief content officer, reassured investors in a video interview that he doesn’t foresee troubles with Netflix’s future releases, because seasons of TV series are produced in full, long before they hit the service, unlike many traditional network TV programs.

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“Our 2020 slate of series and films are largely shot and are in post-production remotely in locations all over the world, and we’re actually pretty deep into our 2021 slate,” he said.

Sarandos pointed to production of “The Crown,” a dramatic series about the Royal Family, has already filmed and is “in finishing stages” for a release later this year.


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But there will be a few smaller hurdles along the way as Netflix’s production gets accustomed to the impacts of COVID-19.

The company said that home isolation in countries across the world has made it impossible to produce dubbed versions of some of its original programs “in Italian and some other languages” because the voice talent can’t access the required equipment. Those affected titles would be released in April and May, but a representative was not certain which films or TV series would be impacted and couldn’t say whether the French-language translations were being produced.

Netflix said it hopes to get voice actors set up in their homes to record future dubs.

Among its biggest challengers in the market is Walt Disney Co., whose recently launched streaming service is also stocked with perennial classics, especially for children who have even more free time than usual.


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That’s one of the big reasons Disney’s service has amassed 50 million subscribers and why Netflix is basking in another resurgence in popularity. Netflix predicted it will add 7.5 million subscribers from April through June. That’s nearly three times more than its average springtime gain of 2.7 million subscribers during the past seven years.

“Since we have a large library with thousands of titles for viewing and very strong recommendations, our member satisfaction may be less impacted than our peers,” Netflix boasted in its report.

© 2020 The Canadian Press

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7 Reasons Why America Loves Doing Business with Canada

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Canada is one of the United States’ most important trading partners. According to the United States Census Bureau, Bureau of Economic Analysis, the US exports over $300B worth of goods and services to Canada annually. It also imports over $300B worth of goods and services from the country every year.

In fact, the trade relationship between the two North American countries is the biggest in the world. The two nations have traded for over 100 years. And a strong trade relationship is prosperous for both countries.

So, what makes Canada such an excellent trading partner for the United States? Here are a few good reasons:

1. Geographical Location

Canada shares a large border with the United States. Trading with Canada is easy by road, boat, or air. Most of the economic hotspots in Canada like Toronto, Vancouver, and Calgary are just a short flight away from an American city.

2. Manufacturing Strengths

Canada has some exceptional exports thanks to its vast manufacturing strengths. Here are a few of its two products:

  • Non-renewable Energy: Canada’s non-renewable energy exports like oil and gas are a significant part of its economy. Although falling gas prices have impacted this sector, Canada continues to depend on its gas and oil exports.
  • Composite Manufacturing: You’ll find plenty of world-class options if you’re looking for advanced composite manufacturing in Canada regardless of your industry. The Canadian composite manufacturing industry serves many national and international clients in sectors such as defence, transportation, marine, aerospace, medical, industrial, energy, home appliances, construction, and more.
  • Vehicle: Canada has a renowned automotive sector, producing light trucks, crossovers, SUVs, etc., with its technologically advanced factories. 95% of Canada’s automotive exports go to the United States.
  • Aluminum: The Great White North produces some of the best quality aluminum in the world. The United States happens to be Canada’s biggest importer of aluminum.
  • Meat and Dairy: Canada produces meat, beef, poultry, and dairy known for its quality. Unlike some countries, Canada doesn’t use harmful hormones in its meat industry.

3. Good Tax Treaties

Canada has many provisions that make business favourable for American companies. For example, a non-resident corporation that does not otherwise have a permanent establishment (PE) in Canada may do business without paying income tax on its profits. Canada also offers favourable corporate taxes, especially compared to the United States.

Aside from federal incentives, many provinces offer provincial incentives to do business in Canada. For example, many American films and TV shows are shot in Toronto because of lucrative tax enticements.

4. Favourable Exchange Rates

Not only is the Canadian dollar stable, but it usually hovers 20% lower than the United States. The favourable exchange rate makes it cost-effective for the United States to import goods and services from Canada.

However, the exchange rate isn’t so low that it discourages Canadians from travelling to the United States or buying American products. Many economists consider the exchange rate to be in the sweet spot.

5. Similar Culture

Canada speaks the same language, eats the same food, plays the same sports, and consumes the same entertainment. A similar coculture without language barriers makes it easier for Americans to do business with Canada.

Of course, there are some parts of Canada where French is the most popular language. Likewise, Spanish is more prevalent in certain places in the United States. However, these issues are easily overcome with business cards, translators, and technology.

6. Prominent Tech Industry

Many American technology companies are doing business with Canada because of the country’s prominence on the tech stage. For example, Toronto produces more tech occupations than the Bay Area, New York, and even Silicon Valley.

Toronto also has over 2,000 startups and over 14,000 tech companies. In the MaRS Center, Canada also has one of the world’s largest innovation hubs. Canada is also the first nation in the world to develop a national AI strategy. There are over 500 international AI firms in the country. The world’s biggest concentration of AI startups is in Canada.

Besides the national AI strategy, there is plenty of other support for tech development in the country that’s attractive to the United States. Canada invested $900m in high-tech innovation and funded startup incubators in 2015.

Additionally, Canada offers many tax breaks to companies for research and development. It also provides special visa programs for investors and entrepreneurs in the tech industry.

7. Qualified Labour Pool

Canada has the second-highest tertiary education levels worldwide for people between the ages of 25 and 34, according to the Organisation for Economic Co-operation and Development (OECD). Canada’s highly skilled workforce stands at nearly 1.5 million people. Canada’s tech talent is also ranked highly for diversity.

These are just some of the many reasons why the United States enjoys doing business with Canada. Even with the economic climate changing, you can expect the partnership between the two countries to stand the test of time.

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10 Ways to Make Your LinkedIn Profile Stand Out in 2021 – Part 2

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Last week I provided 5 suggestions on how you can make your LinkedIn profile, which in 2021 is a non-negotiable must-have for job seekers, to stand out. The suggestions were:

 

  1. Add a headshot
  2. Create an eye-catching headline
  3. Craft an interesting summary
  4. Highlight your experience
  5. Use visual media

 

I’ll continue with my next 5 suggestions:

 

  1. Customize your URL

 

Your LinkedIn URL (Uniform Resource Locator) is the web address for your profile. The default URL will have your name and some random numbers and letters (https://www.linkedin.com/in/nick-kossovan-647e3b49). Customizing your profile URL (https://www.linkedin.com/in/nickkossovan/) makes your profile search engine friendly; therefore, you’re easier to find. As well a customized URL invites the person searching to make some positive assumptions about you:

 

  • You’re detail oriented.
  • You’re technologically savvy.
  • You understand the power of perception (Image is everything!).

 

James Wooden, one of the most revered coaches in the history of sports, is to have said, “It’s the little details that are vital. Little things make big things happen.”

 

To change your profile URL, go to the right side of your profile. There you’ll find an option to edit your URL. Use this option to make your URL concise and neat.

 

  1. Make connections

 

The more connections you have increases the likelihood of being found when hiring managers and recruiters, looking for potential candidates with your background, search on LinkedIn. Envision your number of connections as ‘the amount of gas in your tank.’

 

At the very least, you should aim to get over 500 connections. Anything below 500 LinkedIn will indicate your number of connections as an exact number (ex. 368). Above 500 connections, LinkedIn simply shows you have 500+ connections. Getting to 500 implies you’re a player on LinkedIn.

 

As much as possible, connect with individuals you know personally, have worked with, met in a professional capacity (tradeshow, conference), is in your city/region and industry/profession. If you’d like to connect with someone you haven’t met, send a note with your request explaining who you are and why you’d like to connect. (This’ll be my topic in next week’s column.)

 

  1. Ask for recommendations and skill endorsements

 

This is vital to making your profile stand out! Employers want to know that others think of your work.

 

When asking for a recommendation, or skill endorsements, think of all the people you’ve worked the past. Don’t just think of your past bosses; also think of colleagues, vendors, customers — anyone who can vouch for your work and professionalism.

 

Instructions on how to ask for, and give, a recommendation, can be found by going to the LinkedIn ‘Help’ field (Located by clicking on the drop-down arrow below the ‘Me’ icon in the upper right-hand corner.) and typing ‘Requesting a recommendation.’ Do the same for skill endorsements.

 

TIP: It’s good karma to write recommendations, and endorse skills, in return and to give unsolicited.

 

  1. Keep your profile active

 

LinkedIn is not simply an online resume — it’s a networking social media site. To get the most out of LinkedIn, you need to be constantly active (at least 3 times per week). Write posts and articles. Check out what is being posted, especially by your connections. Like and share posts that resonate with you. Engage with thoughtful comments that’ll put forward your expertise.

 

Join groups that align with your industry and professional interests. Groups are an excellent way to meet like-minded professionals with whom to network and share ideas and best practices.

 

  1. Check your LinkedIn profile strength

 

It’s in LinkedIn’s interest that you’re successful using their platform. Therefore, they’ve created a ‘Profile Strength Meter’ to gauge how robust your profile is. Basically, this gauge tells you completion level of your profile. Using the tips, you’ll be given, keep adding to your profile until your gauge rates you “All-Star.” For instructions on how to access your ‘Profile Strength Meter,’ use the LinkedIn’ Help’ field.

 

The 10 tips I offered is a starting point for building a LinkedIn profile that WOWs! Jobseekers need to make the most of their profile to stand out in a sea of candidates, sell their skills, and validate their accomplishments. Make it easy for the reader to get a feel for who you are professionally.

_________________________________________________

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send him your questions at artoffindingwork@gmail.com.

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Canadian National beats Canadian Pacific with $33.6 billion Kansas City bid

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U.S. railway operator Kansas City Southern said on Thursday that it had accepted Canadian National Railway Co’s $33.6 billion acquisition offer, upending a $29 billion deal with its competitor Canadian Pacific Railway Ltd.

The development, first reported by Reuters, gives Canadian Pacific five business days to make a new offer for Kansas City Southern. Were Canadian Pacific to table a new offer, a bidding war could ensue.

Canadian Pacific had previously announced a deal to buy Kansas City Southern on March 21, before Canadian National said it had submitted a higher bid on April 20. The headline price in Canadian National’s cash-and-stock bid remains $325 per share as originally announced, though the company offered more of its shares to compensate for a decline in its stock price.

Canadian National has offered to cover the $700 million break-up fee Kansas City Southern will owe Canadian Pacific Railway Ltd. It will also pay Kansas City Southern $1 billion if the U.S. Surface Transportation Board (STB) rejects a voting trust structure it has put forward to complete the deal.

“We believe that Canadian Pacific’s negotiated agreement with Kansas City is the only true end-to-end Class I combination that is in the best interests of North American shippers and communities,” a Canadian Pacific spokeswoman said.

Canadian Pacific and larger rival Canadian National are in a race to take over the U.S. railroad operator, which would create the first direct railway linking Canada, the United States, and Mexico.

Either of them acquiring Kansas City Southern would create a North American railway spanning the United States, Mexico and Canada, as supply chains recover from COVID-19 pandemic-led disruptions.

The acquisition interest in Kansas City Southern also follows the ratification of the U.S.-Mexico-Canada Agreement last year that removed the threat of trade tensions, which had escalated under former U.S. President Donald Trump.

The STB last week approved the voting trust for Canadian Pacific’s proposed acquisition. Canadian National has offered an identical arrangement.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber, Aurora Ellis and Richard Chang)

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