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Netflix Beats Expectations on Profit and Subscribers

Netflix bet heavily on its content line-up, including "3 Body Problem," based on a Chinese trilogy of novels. MARIO TAMA / GETTY IMAGES NORTH AMERICA/AFP/File
Netflix bet heavily on its content line-up, including "3 Body Problem," based on a Chinese trilogy of novels. MARIO TAMA / GETTY IMAGES NORTH AMERICA/AFP/File
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Netflix Beats Expectations on Profit and Subscribers

Netflix bet heavily on its content line-up, including "3 Body Problem," based on a Chinese trilogy of novels. MARIO TAMA / GETTY IMAGES NORTH AMERICA/AFP/File
Netflix bet heavily on its content line-up, including "3 Body Problem," based on a Chinese trilogy of novels. MARIO TAMA / GETTY IMAGES NORTH AMERICA/AFP/File

Netflix topped earnings expectations Thursday, reporting that profit and subscriber ranks grew as its heavy bet on a rich content line-up paid off amid a crackdown on password sharing.
The leading streaming television service said it gained 9.3 million subscribers in the recently ended quarter, raising the total to 269.6 million.
Netflix reported a profit of $2.3 billion on revenue of nearly $9.4 billion in the quarter, compared to a net income of $1.3 billion on $8.2 billion in revenue in the same period a year earlier.
"Netflix continues to lay the smackdown on its competition," said Emarketer senior analyst Ross Benes.
"This signals that password sharing was even more common than previously thought as Netflix keeps converting freeloader viewers into paid users."
Company shares slipped more than 4 percent to $581 in after-market trades, apparently due to the company saying sales in the current quarter might be less than market expectations.
Netflix shares have climbed since the start of this year, but investors seemed wary of the company's ability to keep pumping up revenue and develop its nascent ad-supported tier into a meaningful money-maker.
The company launched an ad-subsidized offering last year around the same time as the crackdown on sharing passwords outside of homes.
Netflix is still in early days of building its ad business, and it remains a work in progress, according to co-chief executive Greg Peters.
'3 Body Problem'
Netflix unveiled a sprawling TV and film lineup for 2024 as it bet that must-see content would keep viewers paying for the streaming service.
In March, Netflix released keenly-anticipated "3 Body Problem."
The series was adapted from a best-selling Chinese trilogy of novels which take place in an alternate version of modern reality where humanity has made contact with an alien civilization.
Other shows due later this year include the eagerly awaited second season of "Squid Game" -- the dystopian Korean horror tale about a fictional, deadly game show which remains by far the most-watched Netflix TV series ever.
Also among a notably international lineup were a Spanish-language, Colombian-made TV series based on Gabriel Garcia Marquez's beloved novel "One Hundred Years of Solitude," and a six-part drama about the life of Brazilian racing great Ayrton Senna.
Britain's Prince Harry and his actress wife Meghan Markle are working on two nonfiction series with Netflix -- a lifestyle program and a show on professional polo, their production company announced earlier this month.
The couple, who split with the British monarchy in 2020 and now reside in California, signed a deal with the streaming giant that same year for multiple projects.
On the movie side, Eddie Murphy returns this summer in a new "Beverly Hills Cop" sequel.
"As Netflix becomes more entrenched as an entertainment industry juggernaut, it will seek to avoid adopting the complacency of the companies it has displaced," Benes said.
Netflix co-chief executive Ted Sarados said on an earnings webcast that the company "has no appetite for making fewer films" but is determined to make better films.
Fandom fueled
Sarandos said TikTok and YouTube short-form videos, while competing for viewing time in the big picture, have also revved up "fandom" with people sharing show snippets, memes, and commentary.
Those platforms have also helped Netflix spot talented storytellers that the streaming television service is keeping its eyes on, according to Sarandos.

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Entertainment

‘Godfather’ and ‘Apocalypse Now’ Actor Robert Duvall Dead at 95 

Actor Robert Duvall arrives at the 72nd Golden Globe Awards in Beverly Hills, California January 11, 2015. (Reuters)
Actor Robert Duvall arrives at the 72nd Golden Globe Awards in Beverly Hills, California January 11, 2015. (Reuters)
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‘Godfather’ and ‘Apocalypse Now’ Actor Robert Duvall Dead at 95 

Actor Robert Duvall arrives at the 72nd Golden Globe Awards in Beverly Hills, California January 11, 2015. (Reuters)
Actor Robert Duvall arrives at the 72nd Golden Globe Awards in Beverly Hills, California January 11, 2015. (Reuters)

Robert Duvall, who played the smooth mafia lawyer in "The Godfather" and stole the show with his depiction of a surfing-crazed colonel in "Apocalypse Now," has died at the age of 95, his wife said Monday.

His death Sunday was confirmed by his wife Luciana Duvall.

"Yesterday we said goodbye to my beloved husband, cherished friend, and one of the greatest actors of our time. Bob passed away peacefully at home," she wrote.

Blunt-talking, prolific and glitz-averse, Duvall won an Oscar for best actor and was nominated six other times. Over his six decades-long career, he shone in both lead and supporting roles, and eventually became a director. He kept acting in his 90s.

"To the world, he was an Academy Award-winning actor, a director, a storyteller. To me, he was simply everything," Luciana Duvall said. "His passion for his craft was matched only by his deep love for characters, a great meal, and holding court."

Duvall won his Academy Award in 1983 for playing a washed-up country singer in "Tender Mercies."

But his most memorable characters also included the soft-spoken, loyal mob consigliere Tom Hagen in the first two installments of "The Godfather" and the maniacal Lieutenant Colonel William Kilgore in Francis Ford Coppola's 1979 Vietnam War epic "Apocalypse Now."

"It was an honor to have worked with Robert Duvall," Oscar winner Al Pacino, who acted alongside Duvall in "The Godfather" films, said in a statement.

"He was a born actor as they say, his connection with it, his understanding and his phenomenal gift will always be remembered. I will miss him."

As Colonel Kilgore, Duvall earned an Oscar nomination and became a bona fide star after years playing lesser roles, in a performance where he utters what is now one of cinema's most famous lines.

"I love the smell of napalm in the morning," his war-loving character -- bare chested, cocky and sporting a big black cowboy hat -- muses as low-flying US warplanes bomb a beachfront tree line where he wants to go surfing.

That character was originally created to be even more over the top -- his name was at first supposed to be Colonel Carnage -- but Duvall had it toned down, demonstrating his meticulous approach to acting.

"I did my homework," Duvall told veteran talk show host Larry King in 2015. "I did my research."

Cinema giant Francis Ford Coppola -- who directed Duvall in "Apocalypse Now" and "The Godfather" -- called his loss "a blow."

"Such a great actor and such an essential part of American Zoetrope from its beginning," Coppola said in a statement on Instagram.

- A 'vast career' -

Duvall was sort of a late bloomer in Hollywood -- he was already 31 when he delivered his breakout performance as the mysterious recluse Boo Radley in the 1962 film adaptation of Harper Lee's novel "To Kill a Mockingbird."

He would go on to play myriad roles -- a bullying corporate executive in "Network" (1976), a Marine officer who treats his family like soldiers in "The Great Santini" (1979), and then his star turn in "Tender Mercies."

Duvall often said his favorite role, however, was one he played in a 1989 TV mini-series -- the grizzled, wise-cracking Texas Ranger-turned-cowboy Augustus McCrae in "Lonesome Dove," based on the novel by Larry McMurtry.

British actress Jane Seymour, who worked with Duvall on the 1995 film "The Stars Fell on Henrietta," took to Instagram to share a heartfelt tribute to the star.

"We were able to share in his love of barbecue and even a little tango," Seymour captioned a photo of herself with Duvall. "Those moments off camera were just as memorable as the work itself."

US actor Alec Baldwin made a short video tribute to Duvall, speaking about the star's "vast career."

"When he did 'To Kill A Mockingbird' he just destroyed you with his performance of Boo Radley, he used not a single word of dialogue, not a single word, and he just shatters you," Baldwin said.

Film critic Elaine Mancini once described Duvall as "the most technically proficient, the most versatile, and the most convincing actor on the screen in the United States."

Entertainment

Songwriter Billy Steinberg Dies at 75

Grammy-winning songwriter Billy Steinberg (L) was behind several top hits of the 1980s and 1990s including Madonna's 'Like A Virgin'. Paul A. Hebert / GETTY IMAGES NORTH AMERICA/AFP/File
Grammy-winning songwriter Billy Steinberg (L) was behind several top hits of the 1980s and 1990s including Madonna's 'Like A Virgin'. Paul A. Hebert / GETTY IMAGES NORTH AMERICA/AFP/File
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Songwriter Billy Steinberg Dies at 75

Grammy-winning songwriter Billy Steinberg (L) was behind several top hits of the 1980s and 1990s including Madonna's 'Like A Virgin'. Paul A. Hebert / GETTY IMAGES NORTH AMERICA/AFP/File
Grammy-winning songwriter Billy Steinberg (L) was behind several top hits of the 1980s and 1990s including Madonna's 'Like A Virgin'. Paul A. Hebert / GETTY IMAGES NORTH AMERICA/AFP/File

Award-winning US songwriter Billy Steinberg, who wrote several top hit songs including Madonna's "Like a Virgin," died Monday at age 75, according to media reports.

Steinberg wrote some of the biggest pop hits of the 1980s and 1990s and was behind songs performed by singers from Whitney Houston and Celine Dion to Madonna and Cyndi Lauper.

He died following a battle with cancer, his attorney told the Los Angeles Times and BBC News.

"Billy Steinberg's life was a testament to the enduring power of a well-written song -- and to the idea that honesty, when set to music, can outlive us all," his family said in a statement to the outlets.

Steinberg was born in 1950 and grew up in Palm Springs, California, where his family had a table grape business. He attended Bard College in New York and soon began his career in songwriting.

He helped write five number one singles on the Billboard Hot 100 list. Among those was "Like a Virgin," co-written with Tom Kelly, which spent six consecutive weeks at the top of the charts.

Steinberg won a Grammy Award in 1997 for his work on Celine Dion's "Falling Into You."

He was inducted into the Songwriters Hall of Fame in 2011.

Entertainment

'Train Dreams,' 'The Secret Agent' Nab Spirit Wins to Boost Oscars Campaigns

'Train Dreams' director Clint Bentley speaks to the audience after his film grabbed best feature at the Film Independent Spirit Awards, as it continues its best picture Oscars campaign. KEVIN WINTER / GETTY IMAGES NORTH AMERICA/AFP
'Train Dreams' director Clint Bentley speaks to the audience after his film grabbed best feature at the Film Independent Spirit Awards, as it continues its best picture Oscars campaign. KEVIN WINTER / GETTY IMAGES NORTH AMERICA/AFP
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'Train Dreams,' 'The Secret Agent' Nab Spirit Wins to Boost Oscars Campaigns

'Train Dreams' director Clint Bentley speaks to the audience after his film grabbed best feature at the Film Independent Spirit Awards, as it continues its best picture Oscars campaign. KEVIN WINTER / GETTY IMAGES NORTH AMERICA/AFP
'Train Dreams' director Clint Bentley speaks to the audience after his film grabbed best feature at the Film Independent Spirit Awards, as it continues its best picture Oscars campaign. KEVIN WINTER / GETTY IMAGES NORTH AMERICA/AFP

Period drama "Train Dreams" took home the Spirit Awards win for best feature Sunday, as both it and "The Secret Agent" gathered momentum ahead of the Academy Awards.

"The Secret Agent" notched best international film as its team hopes to win in the same category at the Oscars next month.

The annual Film Independent Spirit Awards ceremony only celebrates movies made for less than $30 million.

"Train Dreams," director Clint Bentley's adaptation of the Denis Johnson novella, follows a railroad worker and the transformation of the American northwest across the 20th century.

The film won three of its four categories, also grabbing wins for best director and best cinematography. The movie's lead, Joel Edgerton, however, did not take home best actor, which went to Rose Byrne for "If I Had Legs I'd Kick You."

"Train Dreams" producer Teddy Schwarzman told AFP the film "is a singular journey, but it hopefully helps bring people together to understand all that life entails: love, friendship, loss, grief, healing and hope."

"Train Dreams" will compete for best picture at the Oscars, among other honors.

Big win for Brazil

After "The Secret Agent" nabbed best international film, director Kleber Mendonca Filho hailed the win as one that hopefully "gives more visibility to Brazilian cinema."

The film follows a former academic pursued by hitmen amid the political turmoil of Brazil under military rule.

It prevailed Sunday over contenders including rave-themed road trip movie "Sirat," which will compete alongside "The Secret Agent" for best international feature film at the Oscars, capping Hollywood's awards season.

"The Secret Agent" will also be up for best picture, best actor and best casting.

Brazil's "I'm Still Here" won best international feature at the Oscars last year.

Other Spirit winners on Sunday included "Lurker," for best first screenplay and best first feature film.

"Sorry, Honey" nabbed best screenplay and "The Perfect Neighbor" scored best documentary.

The Academy Awards will be presented on March 15.