Netflix (NFLX) announced that it has reached 23 million global monthly active users for its ad-based plan, which offers a lower price than its subscription-based plan. The company also reported strong engagement metrics, with more than 85% of its ad-tier subscribers streaming on the platform for two hours or more per month.
Netflix’s ad-tier plan is part of its strategy to expand its reach and compete with other streaming services that offer free or low-cost content. The company also faces challenges from rising content costs, regulatory pressures, and piracy issues.
Paramount Struggles with Streaming Investments and Ad Revenue
Paramount Global (PARA), another streaming giant, reported a disappointing fourth-quarter earnings, with losses from streaming investments increasing to $1.2 billion. The company also delivered weak ad revenue of $1.3 billion, down 9% year-over-year.
Paramount’s CEO Jim Gianopulos said that the company is investing heavily in its direct-to-consumer business to create original content and attract subscribers. However, he also acknowledged that the ad market is facing headwinds due to the pandemic and changing consumer behavior.
Aritzia Surges After Topping Sales Expectations
Aritzia (ATZAF), a Canadian fashion brand that sells women’s clothing and accessories, saw its shares soar after it topped sales expectations for the third quarter. The company reported revenue of $191 million, up 66% year-over-year, and adjusted earnings per share of $0.07.
Aritzia also received an upgrade from CIBC analyst Mark Shmulik, who raised his price target on the stock from $25 to $30. He praised the company’s strong online presence, loyal customer base, and expansion plans.
Bitcoin ETFs Begin Trading Amid Market Volatility
Bitcoin ETFs are exchange-traded funds that track the price of bitcoin or hold bitcoin as an asset. They are seen as a way for investors to gain exposure to the cryptocurrency without having to buy or store it directly.
Several bitcoin ETFs have begun trading on U.S. exchanges this week, amid rising market volatility and uncertainty over bitcoin’s future regulation. Some of the popular bitcoin ETFs include ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Valkyrie Bitcoin Fund (BRRR), and Purpose Bitcoin ETF (BTCC).
Bitcoin ETFs have attracted both retail and institutional investors who are looking for alternative assets amid inflation fears and geopolitical tensions.