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Netflix revenue up growth As streaming TV war looms

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Netflix shares rallied Wednesday after its latest quarterly update showed robust subscriber growth and better-than-expected profits ahead of a major escalation in the streaming television war.

Netflix reported a net income of $665 million in the recently ended quarter, jumping up from $403 million in the same period last year and topping most analyst forecasts.

Revenue and subscriber growth, however, came in just shy of market consensus. The California-based company saw revenue up 31 percent at $5.25 billion and added 6.8 million subscribers worldwide to reach a total of 158.3 million.

Netflix shares climbed more than 10 percent after-market trades.

The company, whose recent hits include “Stranger Things” and “The Crown,” was upbeat on its ability to thrive even as powerful competitors such as Disney and Apple enter the streaming market in November.

When Netflix began streaming television to subscribers online some 12 years ago — in a pivot from just lending video discs through the mail — it was essentially Amazon Prime, Hulu, YouTube and Netflix itself competing with traditional television, chief executive Reed Hastings said in an earnings broadcast.

And all of the streaming rivals will still find their main competition in broadcast TV, according to Hastings, who was confident Netflix would thrive through compelling original shows.

“We see both Apple and Disney launching essentially the same week after 12 years of not being in the market,” Hastings said.

“Fundamentally, it is more of the same. Disney will be a great competitor; Apple is just beginning but, you know, they will probably have some great shows too.”

Clouds loom? 

But eMarketer analyst Eric Haggstrom said the latest report includes signs of trouble ahead for the market leader, which fell short of its subscriber targets.

“The fourth quarter represents a completely new ballgame for Netflix as Disney+ and Apple TV+ will compete not just for subscribers, but for hit shows as well,” Haggstrom said.

“The fact that Netflix has shown disappointing growth without the new competition present is a negative omen for Netflix in 2020 and beyond.”

And more competition looms on the horizon, as AT&T’s WarnerMedia will launch its new Netflix rival “HBO Max” in early 2020 after reclaiming the rights from Netflix to stream its popular television comedy “Friends.”

Netflix slightly trimmed its forecast for subscriber growth, saying it expected the count to be up 26.7 million at the end of this year, but that its positive outlook for the future remained firm.

It cited factors such as uncertainty about new viewers, response to price changes and forthcoming competition.

The third quarter’s rise in revenue also means Netflix could invest to improve the service and make more original shows to battle competition in markets around the world.

“We have been moving increasingly to original content both because of the anticipated pullback of second run content from some studios and because our original content is working in the form of member viewing and engagement,” Netflix said.

“We’re expanding our non-English language original offerings because they continue to help grow our penetration in international markets.”

Netflix has released originally produced local language shows in 17 countries and has plans to expand to 30, according to chief content officer Ted Sarandos.

Netflix’s original films released in the recently ended quarter included “solid hits” such as “Secret Obsession,” starring Brenda Song, and “Otherhood,” directed by Cindy Chupack.

Netflix-backed films set for release this quarter include Martin Scorsese’s “The Irishman,” with actors Robert De Niro, Al Pacino, and Joe Pesci, and “Marriage Story,” starring Scarlett Johansson and Adam Driver.

“Amazing content can be expensive,” Netflix said.

“We don’t shy away from taking bold swings if we think the business impact will also be amazing.”

Netflix said it would spend about $15 billion in cash on content this year, with the majority of that money devoted to producing original shows.

Netflix also sees its technology platform as an advantage, enabling it to stream to people on all kinds of devices and to mine mountains of data to feed users recommendations about what to watch next — and to give producers insights about what audiences like.

Hastings reasoned that with Facebook and YouTube boasting billions of active users, and billions of mobile phones users who can stream shows from the internet, there is a huge market for Netflix and its rivals to share.

AFP

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Naija Times celebrates 5th anniversary, launches nonprofit arm to promote quality journalism and social impact

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Naija Times
EHI BRAIMAH, founder of Naija Times

Naija Times, Nigeria’s leading independent online newspaper, proudly celebrates its 5th anniversary.

To mark this milestone, the management is excited to announce the launch of Naija Times Journalism Foundation, its nonprofit arm, reinforcing its commitment to quality journalism and social impact.

Founded on September 15, 2020, by Ehi Braimah, a notable PR expert and media personality in Nigeria, Naija Times has delivered high-quality, unbiased, and informative content to its readers. Akpandem James and Jahman Anikulapo – two senior and highly respected journalists – are Braimah’s co-founding partners of Naija Times.

The newspaper covers politics, business, health, education, culture, and sports, while its regularly published editorials provide sharp insights into Nigeria’s pressing issues. The newly launched website, www.ntm.ng to mark the anniversary, offers a seamless, user-friendly experience, making it easier for readers to navigate the website and access Naija Times’ diverse content.

On its 3rd anniversary two years ago, Naija Times launched the book, ‘For a Better Society,’ a compilation of editorials published from September 2020 to July 2023 in Abuja, further solidifying its role in shaping public discourse.

Naija Times Journalism Foundation, accessible at www.ntjfoundation.org, expands the organisation’s mission by supporting investigative journalism on critical social issues, promoting media literacy to educate the public on evaluating information and combating misinformation, and empowering community development through initiatives that foster social cohesion and economic empowerment.

“We are proud to celebrate five years of delivering credible journalism to our readers,” said Braimah, founder and publisher/editor-in-chief of Naija Times.

“Five years ago, we launched Naija Times with the following goals in mind: build strong institutions, promote transparency and accountability in public spending, uphold the rule of law, and defend the public interest.

“Together with my colleagues, we remain committed to building an egalitarian society that is founded on equity, justice and respect for fundamental human rights. The launch of Naija Times Journalism Foundation represents a bold step forward in our mission to drive social impact and elevate journalism practice in Nigeria.”

Naija Times Journalism Foundation is a knowledge production and journalism innovation hub dedicated to strengthening democratic governance and promoting inclusive development and accountability by empowering a vibrant and free press in Nigeria, Africa and Black Diaspora.

The Foundation’s Programmes Officer is Hart Onoboh, a seasoned programmes and communications professional with over five years’ experience, driving impactful development projects in Nigeria.

Hart has a robust background in strengthening democratic governance, combating misinformation, and facilitating community-based interventions.

Previously a fact-checker and visual communications officer at the Centre for Democracy and Development (CDD-West Africa), he led initiatives to counter misinformation and promote electoral integrity, training over 25 fact-checkers across four states in Nigeria.

Hart is currently pursuing a Master’s degree in Information Management at Ahmadu Bello University, Zaria, and he brings technical expertise, creative communication, and field experience to the Foundation’s advocacy and governance initiatives.

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₦5.7bn Fraud Scandal: EFCC Quizzes Sujimoto CEO, Freezes Accounts, Seizes Passport

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Enugu Accuses Sujimoto CEO of N5.7bn Fraud over smart school -

The Chief Executive Officer of Sujimoto Luxury Construction Limited, Sijibomi Ogundele, is under intense interrogation by the Economic and Financial Crimes Commission (EFCC) over the alleged diversion of ₦5.7 billion paid by the Enugu State Government for an ₦11 billion contract.

Ogundele, who had earlier been declared wanted, turned himself in to EFCC Abuja headquarters and was grilled for more than 10 hours on Tuesday. His personal and company accounts have been frozen, and his passport seized to restrict his movement.

According to investigators, Ogundele convinced the state to release 50% of the contract sum—₦5.7 billion—after promising speedy delivery. However, state officials allege that work done so far is worth no more than ₦750 million, accusing him of abandoning the project.

The Enugu State Government’s petition triggered EFCC’s probe, which may see Ogundele spend more time in custody as investigations continue.

In a tearful online video, Ogundele denied any wrongdoing, framing the matter as a contractual dispute: “I’m not a thief, I’m not a fugitive. This is between my company and the Enugu State Government. It’s not criminality.”

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Nigeria Digital PR Summit Opens Nominations For 2nd Digital PR Awards

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Nigeria Digital PR Summit

…Unveils Selection Panel

The Nigeria Digital PR Summit has officially opened nominations for the second Nigeria Digital PR Awards, a prestigious platform that recognizes excellence, innovation, and impact in digital public relations across Nigeria.

Honourees will take the spotlight at the Nigeria Digital PR Awards Gala; a premium evening celebrating the individuals, organizations, and campaigns that defined digital PR in the past year, marking the 10th Nigeria Digital PR Summit. Adding flair to the night is the Digital PR Fashion Runway; a bold fusion of fashion, technology, and communications that promises an unforgettable experience.

This year, 19 award categories will honour campaigns across four classes including Campaign Excellence Awards, Sector Excellence Awards, Innovation and Technology Awards, and Individual & Professional Excellence Awards.

The Summit also unveiled a three-member Selection Panel responsible for reviewing entries and shortlisting winners.

The panel is chaired by the Founder and CEO, Fernhill Digital Consulting, Datari Ladejo, and includes the former Senior Business Program Manager, MarComms, Africa Development Center (ADC – West), Microsoft, Oluwamuyemi Orimolade; and Founder/Lead Partner, PuzzleCraft PR and Communications, Beatrice Okpara.

Nominations are open to agencies, corporate communication teams, NGOs, startups, and individual practitioners whose work has delivered measurable results and demonstrated creativity in leveraging digital platforms.

Nominations run from September 1 – 8, 2025. Shortlisted nominees will be announced during the Awards Gala on October 16, 2025, at the Conference Centre, Naval Dockyard, Ahmadu Bello Way, Victoria Island. For entry guidelines and submission details, visit: https://forms.gle/cM2oFQTnSSqL51EC9.

Founder, Nigeria Digital PR Summit, Segun McMedal, said, “We are excited to launch this year’s call for nominations and to welcome such distinguished professionals to the Selection Panel. This panel reflects the breadth of expertise driving digital communication in Nigeria, and its stewardship will ensure a fair and transparent evaluation process.”

The seven categories in the Campaign Excellence Awards include Best Overall Digital PR Campaign, Best Brand Advocacy Campaign, Best Crisis Communication in Private Organisations, Best Crisis Communication in Government, Best Public Affairs Campaign, Youth Impact Award for Social Change, Outstanding Influencer Collaboration, and Best Use of Content Marketing.

Categories in the Sector Excellence Awards include Excellence in Public Service Digital Campaign, Digital PR Excellence in Telecom Services, Digital PR Excellence in Financial Services, and Sustainability and ESG Communication Excellence.

The Innovation and Technology Awards category include Innovative Use of Technology in PR, Best Digital Engagement with Citizens, Outstanding Digital Customer Experience, and Creative Use of Short-Form Video in PR. The Individual and Professional Excellence Awards include Emerging Digital PR Professional of the Year and Digital PR Professional of the Year.

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