Netflix may shrug at writers' strike after slashing content spending in first quarter
Publishing timestamp: 2023-04-18 21:59:34
Summary
Netflix cuts content spending by over $1 billion in first quarter compared to previous year, focusing on generating more cash as subscriber growth slows. Hollywood writers vote to authorize strike for more pay, but Netflix is prepared to weather potential strike by cutting content costs and focusing on boosting free cash flow.
Sentiment: MIXED
Tickers: NFLX,
Keywords: business news, breaking news: business, media, netflix inc, technology,
Source: https://www.cnbc.com/2023/04/18/netflix-spending-hollywood-writers-strike.html