“Today” co-anchor Savannah Guthrie directly addressed her mother’s apparent kidnapper in a recorded video message, asking for proof of the 84-year-old’s well-being and expressing a willingness to speak.
Her disappearance has prompted a sprawling investigation by local law enforcement and federal agents. Pima County Sheriff Chris Nanos has said he believes Nancy was abducted, but investigators have yet to identify a person of interest or suspect.
In an emotional video message Wednesday, Guthrie said she and her siblings, Annie and Camron, had heard reports about a ransom letter through the media, but did not offer any information about its authenticity. On Tuesday, some outlets reported receiving unverified ransom notes relating to Nancy Guthrie’s disappearance. Investigators have said they are aware of the reports but haven’t publicly verified their authenticity.
“We are ready to talk,” Guthrie said, directly addressing her mother’s apparent abductor, while adding that her family needed an assurance of Nancy’s well-being. “We need to know, without a doubt, that she is alive and that you have her.”
Guthrie said her mother was in fragile health, living in constant pain and requiring medicine — that she currently is without — to survive.
She then addressed her mother: “Everyone is looking for you, Mommy, everywhere,” Guthrie said. “We will not rest, your children will not rest, until we are together again.”
On Wednesday, the sheriff’s office said about one hundred detectives are working on the case, with help from the FBI.
“Detectives believe Mrs. Guthrie was taken against her will, possibly during the overnight hours,” the sheriff’s office said in a statement Wednesday, without providing any information about possible injuries. It added that investigators have collected and sent any DNA evidence found at the scene for testing. While some of the results have been received, nothing so far points to a person of interest or suspect, the update said.
“At this point, there is no credible information indicating this was a targeted incident,” the office said in a statement.
Investigators have scheduled a media briefing for Thursday morning.
FORT LAUDERDALE, Fla.—Singer Sean Kingston was sentenced to three and a half years in prison Friday after being convicted of a $1 million fraud scheme in which he leveraged his fame to dupe sellers into giving him luxury items that he then never paid for.
Kingston, whose legal name is Kisean Paul Anderson, and his mother, Janice Eleanor Turner, were convicted in March by a federal jury of conspiracy to commit wire fraud and four counts of wire fraud. Turner was sentenced to five years in prison last month.
Before U.S. Judge David Leibowitz handed down Kingston’s sentence, the singer apologized to the judge in the South Florida courtroom and said he had learned from his actions. His attorney asked if he could self-surrender at a later date due to health issues, but the judge ordered him taken into custody immediately. Kingston, who was wearing a black suit and white shirt, removed his suit jacket and was handcuffed and led from the courtroom.
Assistant U.S. Attorney Marc Anton described Kingston as someone addicted to his celebrity lifestyle even though he could no longer afford to maintain it.
“He clearly doesn’t like to pay and relies on his celebrity status to defraud his victims,” Anton said Friday.
The federal prosecutor described a yearslong pattern by Kingston of bullying victims for luxury merchandise and then refusing to pay.
“He is a thief and a conman, plain and simple,” Anton said.
Defense attorney Zeljka Bozanic countered that the 35-year-old Kingston had the mentality of a teenager — the age he was when he vaulted to stardom. The attorney said Kingston had almost no knowledge of his finances, relying on business managers and his mother.
“No one showed him how to invest his money,” Bozanic said. “Money went in and money went out on superficial things.”
Bozanic said Kingston has already started paying back his victims and intends to pay back every cent once he is free and can start working again.
Leibowitz rejected the idea that Kingston was unintelligent or naive, but the judge said he gave Kingston credit for accepting responsibility and declining to testify rather than possibly lying in court. That was in contrast to Kingston’s mother, whose trial testimony Leibowitz described as obstruction.
Kingston and his mother were arrested in May 2024 after a SWAT team raided Kingston’s rented mansion in suburban Fort Lauderdale. Turner was taken into custody during the raid, while Kingston was arrested at Fort Irwin, an Army training base in California’s Mojave Desert, where he was performing.
According to court records, Kingston used social media from April 2023 to March 2024 to arrange purchases of luxury merchandise. After negotiating deals, Kingston would invite the sellers to one of his high-end Florida homes and promise to feature them and their products on social media.
Investigators said that when it came time to pay, Kingston or his mother would text the victims fake wire receipts for the items, which included a bulletproof Escalade, watches and a 19-foot (5.9-meter) LED TV, investigators said.
When the funds never cleared, victims often contacted Kingston and Turner repeatedly, but were either never paid or received money only after filing lawsuits or contacting law enforcement, authorities said.
Kingston, who was born in Florida and raised in Jamaica, shot to fame at age 17 with the 2007 hit “Beautiful Girls,” which laid his lyrics over Ben E. King’s 1961 song “Stand By Me.” His other hits include 2007’s “Take You There” and 2009’s “Fire Burning.”
While Disney insists that the P&T division is critical to its future success, the layoffs nonetheless cut an additional two percent of the company’s workforce.
This latest round of cost cutting is just one of a long series of cuts lasting several years. Indeed, it isn’t even the first round of layoffs this month.
Early this month the company pushed out several hundred workers from its marketing for both film and television, television publicity, and its casting and development departments.
It was the fourth round of layoffs in the last ten months and came about a month after 200 employees were eliminated in March.
The layoffs in March hit Disney’s ABC News Group and Disney Entertainment Networks unit. That round of layoffs even included the elimination of its once popular “538” website.
Disney’s job shedding campaign has been going on for several years as the company struggles to reign in expenses in the wildly changing entertainment scene and as Hollywood and streaming continues to lose power over America. In August of 2024, for instance, Disney shed 140 jobs in its entertainment divisions, including ABC television.
In 2023, the company had its largest layoff by dumping some 7,000 employees.
Loretta Swit, in costume as Maj. Margaret Houlihan, on the set of the hit TV series “M*A*S*H” in 1975. (CBS Photo Archive/Getty Images)
Loretta Swit, the Emmy-winning actress who made the high-strung and relentlessly militaristic Maj. Margaret Houlihan human, dignified and, against all odds, sympathetic on the acclaimed television series “M*A*S*H,” died on Friday at her home in Manhattan. She was 87.
Her death was announced by her publicist, Harlan Boll.
In the Oscar-winning 1970 film “M*A*S*H,” directed by Robert Altman, Major Houlihan (whose blatantly sexist nickname was Hot Lips) was played by Sally Kellerman. When the movie became a CBS series, Ms. Swit stepped into the role and made it her own, adding heretofore unseen nuance. She was nominated 10 years in a row for the Emmy Award for best supporting actress in a comedy series, and she won twice, in 1980 and 1982.
“M*A*S*H,” which aired from 1972 through 1983 on CBS, was, like the movie that inspired it, set at a mobile Army hospital during the Korean War. Major Houlihan spent the first five seasons distracted by her open secret of an affair with the sniveling, very married Maj. Frank Burns (Larry Linville).
Around the time Major Burns returned to the United States, she married a handsome officer whom she had met in Tokyo. But he proved unfaithful, and she was soon divorced and newly dedicated to her career as the unit’s head nurse. In a post on social media, her “M*A*S*H” co-star Alan Alda wrote, “We celebrated the day the script came out listing her not as Hot Lips, but as Margaret.”
“It was the greatest time in my career,” Ms. Swit told the British newspaper The Guardian in 2001. Margaret’s ambition throughout the series was to be “the best damned nurse in Korea, and that motivated everything I did, even when it came to sex.” Major Houlihan did seem to be on a flirtatious first-name basis with every general who visited the camp.
As early as Season 2, her nemesis, Capt. Benjamin Franklin Pierce (Alan Alda) — better known as Hawkeye — saw her good side, referring to her as “nurse, friend and all-around good egg.” Col. Sherman T. Potter (Harry Morgan) called her “the finest nurse I’ve ever scrubbed with.”
Ms. Swit with other members of the “M*A*S*H” cast, from left: Larry Linville, Wayne Rogers, Alan Alda (seated front), Gary Burghoff and McLean Stevenson. (CBS/Reuters)
The character only grew in perceived stature as the seasons passed, wrestling violent patients into submission and performing triage in her wedding dress.
Ms. Swit firmly believed that “if you’ve got a long-run series, then there’s always got to be room for growth,” she told The Toronto Star in 2010. “Of all the places you’d be inclined to grow, I certainly think somewhere you’re in danger every day and healing people every day would be just the right place.”
The show explored Major Houlihan’s feelings about her proud military heritage, as the daughter of a general who would have preferred a son. And it looked in on the night of passion — under enemy fire — that she and Captain Pierce shared and, as soon as the morning-after dust settled, never spoke of again.
Loretta Jane Szwed was born on Nov. 4, 1937, in Passaic, N.J., to Lester Szwed, a salesman, and Nellie (Kassack) Szwed.
Ms. Swit at her home in 1971. She was a relatively unknown actress at the time; a year later, “M*A*S*H” would change everything. (Everett Collection)
After graduating from high school in Passaic, Loretta attended the Katharine Gibbs School in Montclair, N.J., and began a secretarial career. Her employers included Elsa Maxwell, the society hostess and gossip columnist.
But she was also preparing for an acting career; she enrolled in the American Academy of Dramatic Arts and studied with the director Gene Frankel.
“That’s kind of all I ever wanted to be,” she recalled in a 2004 Archive of American Television interview. She remembered going to two movie double features a day with her mother, separated only by a dinner break, when she was growing up.
She took voice lessons and dance lessons, but her parents were horrified by her choice of entertainment as an actual career. As Ms. Swit told The Toronto Star in 2010, after they saw her in a play at a small Greenwich Village theater, “My mother said to my father, ‘If you don’t stop her now, she may wind up doing this for the rest of her life.’”
Her Off Broadway debut was in Ibsen’s “An Enemy of the People” in 1961. She was the understudy for the lead female role in the national tour of the romantic comedy “Any Wednesday.”
She also appeared onstage in the musical “Mame,” in the comic role of Agnes Gooch, the lead character’s mousy secretary-nanny, who bursts out of her sheltered existence and comes home pregnant. She appeared alongside Celeste Holm on the national tour and Susan Hayward in the Las Vegas production.
Ms. Swit appeared with Ted Bessell in “Same Time, Next Year” on Broadway in 1975.(Everette Collection)
Later in her career, she also appeared on Broadway with Ted Bessell in “Same Time, Next Year” (1975) as a chronic adulterer and in “The Mystery of Edwin Drood” (1985), replacing Cleo Laine.
Before“M*A*S*H,” Ms. Swit appeared on the television series “Mission: Impossible,” “Mannix,” “Gunsmoke” and “Hawaii Five-O,” all in 1970.
And she kept busy with other projects during the show’s run. She played an obnoxious gossip columnist in a body cast in Blake Edwards’s Hollywood farce “S.O.B.” (1981), with Julie Andrews and William Holden. She was a crime boss’s unfaithful wife in “Freebie and the Bean” (1974), with Alan Arkin and James Caan. She appeared in the television movies “Mirror, Mirror” (1979), “The Love Tapes” (1980) and “Games Mother Never Taught You” (1982). And she made an enemy (temporarily) of Miss Piggy when she guest-starred in a 1980 episode of “The Muppet Show.”
Ms. Swit appeared with Tyne Daly in the pilot of the police series “Cagney & Lacey” in 1981, but her part was played by Meg Foster, and then by Sharon Gless, when the show became a series. (Jeff Goode/Toronto Star/Getty Images)
In 1981, she played Detective Christine Cagney in the pilot of the police series “Cagney & Lacey,” and she was set to take on the role for the run of the new show. But she was unable to get out of her commitment to “M*A*S*H,” and first Meg Foster (for six episodes) and then Sharon Gless ended up with the part instead.
After “M*A*S*H” ended, Ms. Swit played the president of the United States in the satirical British movie “Whoops Apocalypse” (1986). She also continued to be seen regularly on TV series, including “Murder, She Wrote” (1994) and “Burke’s Law” (1995). And she continued her stage career, appearing in regional theater, graduating to the title role in “Mame” and winning the Sarah Siddons Award in Chicago for her performance in “Shirley Valentine.”
She had planned to retire from acting after appearing in the 1998 comedy “Beach Movie,” but she returned to the screen two decades later in “Play the Flute” (2019), about a youth pastor with a wayward flock. It was her last movie.
In 1983, Ms. Swit married Dennis Holahan — an actor who was also a lawyer, and who coincidentally bore an approximation of her most famous character’s surname — after they appeared together in an episode during the final season of “M*A*S*H.” They divorced in 1995.
No immediate family members survive.
As for concerns like aging and mortality, she shrugged them off in an interview with The Express, the London newspaper, in 2020.
“I don’t think about the passage of time,” Ms. Swit said, “just what I’m doing with it.”
Live Nation reported $3.3 billion in revenue for the first financial quarter of 2025, an 11 percent drop from the particularly strong first quarter the live music giant had posted a year ago.
Adjusted operating income fell 6 percent to $341 million from 362.5 million year over year. In the concerts division, revenue fell 14 percent to $2.84 billion, and ticketing revenue fell 4 percent to $694.7 million. Sponsorship and advertising, however, grew slightly, up 2 percent to $216.1 million.
While the year has started out slower, in its report, Live Nation points to $5.4 billion in deferred revenue for concerts and another $270 million in deferred revenue on tickets — a 24 percent and 13 percent bump for each category — which the company said suggests stronger figures in the months ahead as the concert season gets more into full swing.
Live Nation’s earnings report comes as there’s been significant discourse over the past year regarding the demand for arena and stadium level artists given increasingly expensive concert tickets and a murky economic outlook in the months ahead. Beyoncé, for example, has garnered headlines as there are still tickets available for dates on her just-started Cowboy Carter Tour, leading to the question on if sales are weakening as consumers tighten their belts. (Live Nation itself has disputed the notion of a surplus of tickets and said in March that she’d sold 94 percent of her tickets, according to Billboard.)
In a statement, Live Nation CEO Michael Rapino maintained that the company’s seen no indication to expect lower demand from fans ahead despite a less-than-rosy broader economic picture. He said Live Nation is “on track to deliver double-digit growth in operating income and AOI this year.”
“As more artists tour the world, fan demand is reaching new heights across ticket sales, show attendance, and on-site spending,” Rapino said. “Ticket sales are pacing well ahead of last year, with deferred revenue for both concerts and ticketing at record levels. To support even more fans seeing their favorite artists, we’re continuing to expand our global venue network, adding 20 major venues through 2026. As the global experience economy grows, the live music industry is leading the way, and we’re positioned to compound growth by double-digits over many years.”
During the company’s earnings call Thursday afternoon, Rapino pointed toward on-sales from April 1st to April 21st, calling it the “most relevant on-sale” period and specifically mentioning strong on-sales for Chris Brown and Lady Gaga tours.
“We haven’t seen a consumer pullback in any genre, club, theater, stadium, amphitheater, we haven’t seen that happen yet,” Rapino said.
Outside of its quarterly earnings, Live Nation of course still faces a DOJ antitrust lawsuit over monopoly allegations as the Justice department called for a breakup of the eponymous concert promoter and ticketing giant Ticketmaster last year. Live Nation has consistently denied the allegations, and CFO Joe Berchtold said at a conference last year that “I expect we’re going to prevail.” Still, both advocates and lawmakers have been vocal in recent months calling for the DOJ to continue to pursue the lawsuit and break up the company.
Exhibition giant Cinemark reported revenue of $541 million, down 7 percent year-over-year from $579 million, for the first quarter of 2025 and swung to a quarterly loss of $39 million, compared to a year-earlier profit of $25 million.
But the company touted: “North American industry box office momentum accelerated in April, nearly doubling year-over-year, leading into a blockbuster summer film slate.”
Quarterly admissions revenue decreased 8.9 percent to $264.1 million, while concession revenue dropped 6.2 percent to $210.4 million, as Cinemark posted a 7.8 percent decrease in attendance to 36.6 million patrons. Worldwide average ticket price came in at $7.22, and concession revenue per patron amounted to $5.75.
The company also posted quarterly adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), another profitability metric, of $36.4 million, down from $70.7 million in the year-ago period.
“Cinemark once again delivered outsized box office results in the first quarter, surpassing industry benchmarks both domestically and internationally, despite a suppressed box office environment that was impacted by lingering effects of the 2023 Hollywood strikes,” CEO Sean Gamble said in the press release. “We continue to expect a favorable rebound in our industry’s recovery trajectory this year, and the second quarter is already pacing well ahead of 2024’s box office results, showcasing the strong, sustained enthusiasm consumers have for experiencing a diverse range of compelling, well-marketed films in theaters.”
He added: “As we look ahead, we remain highly encouraged about the future direction of our industry and company based on resilient consumer trends, a continued resurgence of wide release volume, Cinemark’s advantaged financial and competitive positions, and meaningful opportunities we have to generate incremental value creation through our ongoing strategic initiatives.”
On the earnings call, Gamble said momentum starting picking up with A Minecraft Movie, which deliveredCinemark’s highest three-day opening of all time for a family film, and continued with the faith-based film King of Kings, Sinners and The Accountant 2.
Moving forward, Gamble said that he also expects Cinemark and the film industry would be able to continue on an upswing during “an uncertain and evolving macroeconomic landscape,” due to the fact that in six of the past eight recesssions, North American box office has grown. “Based on our observations during strained economic periods, people continue to pursue out of experiences, and they tend to prioritize value and affordability,” he said.
Concluded Gamble: “Considering the health of our company and our positive outlook, we paid our first dividend since the pandemic during the quarter and executed $200 million of share repurchases. This marks our first-ever stock buyback program and has put us out in front of managing potential dilution related to our upcoming convertible notes settlement.”
Skipper co-founded Meadowlark in 2021 alongside radio host Dan Le Batard with a goal of bringing his show to digital platforms. Skipper, the former president of ESPN, subsequently pushed Meadowlark to develop documentary and unscripted fare, inking a first-look deal with Apple TV+, and developed a franchise called SportsExplains the World that would encompass both anthology series and podcasts.
In a statement posted to his social media accounts, Le Batard indicated that the company will continue to produce documentary fare, and that Skipper would remain involved providing “leadership and guidance” to the company.
“Thankful to John Skipper for his friendship and look forward to his continued leadership and guidance on and off air,” Le Batard wrote. “I asked him to build a successful, fiercely independent media company within four years, and he has. Meadowlark will continue to produce films and documentaries. Our audio/video network is thriving, and we look forward to sharing good news shortly in that regard. I’m so grateful that our Skipper has navigated today’s turbulent media seas to get us into much safer waters.”
MoviePass, the startup that made its mark with its movie theater subscription service, has always been known for shaking things up, and its latest venture is no exception.
The company announced on Thursday the beta launch of Mogul, a new daily fantasy entertainment platform designed specifically for the Hollywood industry.
To understand what Mogul is, it’s important to first grasp the concept of daily fantasy sports. This subcategory of fantasy sports allows players to compete over short-term periods, rather than an entire season. Players assume the role of team managers, creating their own dream teams made up of real-world athletes and earning points based on how those athletes perform in actual games.
Mogul takes this idea by allowing users, who are likely passionate movie enthusiasts interested in this sort of thing, to act as studio heads in the film industry. Players are provided with a budget and “studio credits” (in-game currency) to spend on selecting actors for their leagues.
Users can update their lineup of movie actors each day. They then participate in fantasy-style tournaments that last about a week, plus one-on-one competitions and solo challenges. Participants make calls on the results of various things, such as box office results, audience turnout, critic ratings, and potential award winners.
As users level up, they earn digital collectibles — think signed posters and memorabilia — that help them climb the leaderboard.
Mogul is built on Sui, a layer 1 blockchain and smart contract platform developed by Mysten Labs. Beta testers will receive a digital wallet to securely store their in-game virtual currency, rewards, and collectibles.
MoviePass is taking a bold leap with the introduction of Mogul, as it has never really been done before. But CEO Stacy Spikes believes it’s a huge market waiting to be tapped. He said, “People can name more actors than they can probably name sports athletes. So I think there’s a really big market opportunity there.”
Initially, when we first learned about Mogul, we didn’t anticipate that it would take off, at least not in the early stages. We wondered if there are many movie fans willing to compete with others about box office revenue or ratings.
However, we may have underestimated its appeal. The company claims that more than 400,000 people have already signed up for the early-access waitlist. It remains to be seen whether it can maintain this level of interest leading up to the official launch, but it could become popular among niche film industry followers.
During our initial conversation with Spikes, he positioned Mogul as a predictive market platform. Later on, we were told that a more fitting description would be to classify Mogul as a daily fantasy sports platform, but it may evolve to include this functionality in the future. For now, though, Mogul operates exclusively with virtual currency.
This distinction is important, especially considering the regulated nature of daily fantasy sports, as opposed to prediction market platforms, which currently exist in a legal gray area. Kalshi, for instance, has been in ongoing legal battles with state gambling regulators.
“It’s murky what needs to be approved. There are different types of clearances, depending on the markets you want in the U.S. You have to go state by state. It literally is like a Chinese puzzle with stuff all over the place,” Spikes said.
Mogul represents the initial phase of MoviePass’s long-term web3 strategy. The company has previously revealed its intention to provide on-chain rewards for attending movies. It’s also backed by Animoca Brands, a venture capital firm specializing in blockchain technology.
Last year, MoviePass partnered with Sui to allow subscribers to make payments using USD coin.
Spotify informed The Budgets that they have paid podcast publishers and creators over $100 million since the start of January.
The payout is the result of a program introduced in 2025 that opened up new revenue streams to eligible hosts. But it is also an attempt to draw more creators (and their audiences) to Spotify, as the rise of video podcasting has driven many of them to YouTube.
Video has come to dominate podcasting. More than half of Americans over the age of 12 have watched a video podcast — but primarily on YouTube, according to an Edison Research report from January. The service claims to reach 1 billion podcast consumers every month, making it the dominant platform for podcasts — a media king and kingmaker — and leaving onetime audio-only platforms like Spotify and Apple Podcasts in the dust. (Spotify introduced video podcasts in 2019.)
Compared with YouTube, Spotify has become a podcast underdog, with about 170 million monthly podcast listeners among its total audience of 675 million. One indication of how far Spotify has to go to catch up to the top player: YouTube paid out more than $70 billion to creators and media companies from 2021 to 2024.
The company reports earnings on Tuesday and is expected to make about 540 million euros in pretax income on 4.2 billion euros in sales, according to S&P Capital IQ.
But Spotify, which is listed on the New York Stock Exchange but is based in Stockholm, remains a major player in the industry thanks in part to its talent roster — it distributes and sells advertising for the biggest podcast in the world, “The Joe Rogan Experience.” And it achieved its first full year of profitability in 2024. (Mr. Rogan’s podcasts are also available on YouTube.)
The new partner program aims to chip away at YouTube’s dominance. Spotify previously paid creators only by sharing advertising revenue with them, much like YouTube. Now it also gives them incentives to upload videos, with eligible creators earning additional money based on how much premium subscribers engage with their videos.
The company is trying to attract more viewers. At the same time that Spotify announced the partnership program in November, it announced that paid subscribers in certain markets wouldn’t have to watch dynamic ads in video podcasts. Video consumption has already increased by more than 40 percent since January, according to Spotify.
The question now is whether Spotify can persuade creators to shift priorities.
David Coles, host of the horror fiction podcast “Just Creepy: Scary Stories,” said he is re-evaluating his “home platform” after his Spotify revenue recently surpassed his YouTube revenue. Last quarter, Mr. Coles said he received about $45,500 from Spotify. After joining the company’s new partner program, his quarterly Spotify income rose to about $81,600.
This increase can be even more dramatic for larger shows and podcast companies, like YMH Studios, a comedy network with 2.1 million YouTube subscribers that produces popular podcasts including “2 Bears, 1 Cave.” While declining to share exact figures, YMH Studios said its quarterly Spotify revenue more than tripled after joining the partner program.
Although creators emphasized that these are still early days, Alan Abdine, the head of advertising revenue at YMH Studios, called the new payment program “a game-changer” and “a very happy surprise.”
Netflix fared better than analysts anticipated during the first three months of the year, signaling the world’s largest video streaming service is still thriving as President Donald Trump’s policies cast a pall on the economy.
The numbers released Thursday indicated Netflix is still building on the momentum that enabled it to add 41 million worldwide subscribers last year—the biggest annual gain in the company’s 27-year history.
But it’s unclear precisely how many more subscribers Netflix picked up during the January-March period because this report marks the first time that that the Los Gatos, California, company hasn’t provided a quarterly update on its total subscribers.
Netflix announced last year it would no longer report subscriber numbers beginning with this quarter as the company seeks to shift investors’ focus to its profits after topping 300 million global subscribers in December. As part of that emphasis, Netflix is working to sell more advertising to supplement subscription dollars.
Netflix’s sharper focus on its finances paid off in this year’s first quarter with earnings of $2.9 billion, or $6.61 per share, a 24% increase from from the same time last year. Revenue climbed 13% from the same time last year to $10.54 billion. Both numbers exceeded forecasts compiled by FactSet Research. Without providing details, Netflix cited ongoing subscriber growth as the main reason for its strong start this year.
The robust growth came against a background of economic chaos and Trump’s fluctuating trade war. The tech industry has been hit particularly hard by the sweeping tariffs that Trump unveiled April 2 because so many bellwether companies rely on international supply chains that have been provided some relief by temporary freezes and exemptions from the fees.
But Netflix’s global streaming service hasn’t been touched by Trump’s tariffs yet, making the company a notable exception that has enabled its stock price to increase 9% so far this year, while the market values of most other major tech companies have plummeted.
“Netflix remains a standout in an otherwise volatile tech landscape,” said Andrew Rocco, a who tracks the stock market for Zacks Investment Research. The company’s shares rose nearly 3% in extended trading after its report came out.
The trade war could still hurt Netflix if it triggers a recession or fuels inflationary pressures as many economists fear. In those scenarios, more consumers may curtail their discretionary spending on entertainment.
The economic volatility could also result in a slowdown in advertising to the detriment of Netflix’s efforts to sell more commercials for a low-priced version of its streaming service that accounted for most of its last year’s subscriber growth.
“We’re paying close attention clearly to the consumer sentiment and where the broader economy is moving,” Netflix co-CEO Greg Peters said during a Thursday conference call. “But based on what we are seeing by actually operating the business right now, there’s nothing really significant to note.”
Peters also said Netflix’s low-cost option, currently priced at $8 per month in the U.S., should help insulate its video streaming service if households start tightening their belts.
In a sign of its confidence, Netflix reaffirmed its previous prediction for annual revenue of roughly $44 billion, up 13% from 2024.
“Historically in tougher economies, home entertainment value is really important to consumer households,” Netflix co-CEO Ted Sarandos noted during the conference call.
Even with the 2023 strikes in Hollywood’s rearview mirror, writers are still feeling the pinch.
On Friday, the Writers Guild of America released new job statistics highlighting recent declines in television-writing jobs across various levels of the hierarchy. Post-Peak TV, those at the peak of profession were the largest casualties (in numbers).
Of the 1,319 fewer TV writer jobs for the 2023-24 season (vs. 2022-23; pre-strikes), 642 jobs were lost — a decline of 40 percent — at the co-executive producer or higher (up to showrunner) level. Lower-level writers (staff writer, story editor, executive story editor) were the next most affected with 378 fewer jobs versus the prior season, down 46 percent. Mid-level positions (co-producer through consulting/supervising producer) declined by 299 (-42 percent).
All told, there were 1,819 television writing jobs last season, a 42 percent decline from the 2022-23 season. Last season’s numbers are far fewer than even the COVID season of 2019-20, which employed 2,722 writers.
Cord-cutters and corporate greed are to blame, the WGA says.
“With an industry in transition — cable TV subscriptions and cable programming declining, a massive run-up and then pullback in streaming series as Wall Street demands quicker streaming platform profits — the number of TV jobs has declined,” the WGA’s latest jobs report reads.
The report said the “studios’ prolonged unwillingness to negotiate a fair deal in 2023” was also to blame as it shortened the 2023-24 TV season.
The WGA writers strike ran from May to September 2023. The Directors Guild of America reached a deal with media companies, but actors also took to picket lines as the SAG-AFTRA strike ran from July to November. Seasons of scripted shows were trimmed and some pickups were canceled. Approximately 37 percent fewer WGA-covered episodic series aired in 2023-24, per the report.
The report was sent to WGA members Friday morning by the WGA West board of directors and WGA East council; The Hollywood Reporter obtained the email.
“Writing careers have always been difficult to access and sustain, but the contraction has made it especially challenging,” the email to members reads. “We are all subject to the decisions of the companies that control this industry, who have pulled back spending on content based on the demands of Wall Street. Compounding that, the current administration seems intent on causing economic chaos and undermining our democracy.”
Solid WGA data for the still-ongoing 2024-25 television season is still months away, the guild said. The WGA’s new contract with the studios should help employment bounce back — to some degree.
It’s not just about needing more jobs, though that’s certainly a part of the WGA’s current mission. The 2023 negotiations were an attempt to thwart downsizing, yes, but also about “ensuring that however many projects the companies make, the jobs are good ones,” a WGA spokesperson told THR for this story.
Television Writing Jobs Chart
Television Writing Jobs, by Level
Job Level
2018-2019
2019-2020
2022-2023
2023-2024
Lower Level Jobs (Staff Writer, Story Editor, Exec. Story Editor)
795
741
824
446
Mid-Level Jobs (Co-Producer through Consulting/Supervising Producer)
708
649
720
421
Upper Level Jobs (Co-EP through Showrunner)
1,508
1,332
1,594
952
SOURCE: WRITERS GUILD OF AMERICA
Lest writers think movies are a safe haven in this post-Peak TV period, they are not. Though the number of WGA-covered films has been pretty stable over the past few years, the number of screenwriters working is down 15 percent. Screenwriter earnings are down 6 percent.
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Contains information related to marketing campaigns of the user. These are shared with Google AdWords / Google Ads when the Google Ads and Google Analytics accounts are linked together.
90 days
__utma
ID used to identify users and sessions
2 years after last activity
__utmt
Used to monitor number of Google Analytics server requests
10 minutes
__utmb
Used to distinguish new sessions and visits. This cookie is set when the GA.js javascript library is loaded and there is no existing __utmb cookie. The cookie is updated every time data is sent to the Google Analytics server.
30 minutes after last activity
__utmc
Used only with old Urchin versions of Google Analytics and not with GA.js. Was used to distinguish between new sessions and visits at the end of a session.
End of session (browser)
__utmz
Contains information about the traffic source or campaign that directed user to the website. The cookie is set when the GA.js javascript is loaded and updated when data is sent to the Google Anaytics server
6 months after last activity
__utmv
Contains custom information set by the web developer via the _setCustomVar method in Google Analytics. This cookie is updated every time new data is sent to the Google Analytics server.
2 years after last activity
__utmx
Used to determine whether a user is included in an A / B or Multivariate test.
18 months
_ga
ID used to identify users
2 years
_gali
Used by Google Analytics to determine which links on a page are being clicked
30 seconds
_ga_
ID used to identify users
2 years
_gid
ID used to identify users for 24 hours after last activity
24 hours
_gat
Used to monitor number of Google Analytics server requests when using Google Tag Manager