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Netflix Expected to Post Q1 LossNetflix Expected to Post Q1 Loss
Also: TW Cable adds sports to TV streaming app; Comcast, Netflix execs pull down big bucks in 2011; another Cablevision exec departs
Jeff Baumgartner
April 23, 2012
2 Min Read
Welcome to today's cable news snapshot.
Netflix Inc. (Nasdaq: NFLX) is expected to post a first-quarter loss of 27 cents per share on revenues of $866 million, up 21 percent year-on-year, when it reports earnings Monday afternoon, according to Bloomberg's analyst survey. Netflix, which is taking a financial hit as it expands outside the U.S., is also expected to end the period with 23.4 million U.S. streaming subscribers, a gain of 1.73 million versus the previous quarter. (See Netflix Subs Rebound in Q4 .)
Time Warner Cable Inc. (NYSE: TWC) has added a range of national and regional sports networks, including ESPN, MLB Network and TBS, to its TWC TV app for the iOS and Android devices and PCs and Macs in New York City, Dallas and Charlotte, N.C. The MSO said it added those sports nets after resolving some technical issues involving blackouts in those three markets, adding that it's working on a "broader technical solution" so it can stream more sports programming via the app in additional markets. (See TWC Streams Live TV to Androids.)
Comcast Corp. (Nasdaq: CMCSA, CMCSK) CEO Brian Roberts took home $26.9 million in total compensation last year, down 14 percent from 2010, while Comcast EVP and new NBCUniversal LLC CEO Steve Burke got $23.7 million, down 32 percent. Despite some rough patches in 2011, Netflix CEO Reed Hastings collected $9.3 million last year, a 68 percent increase from 2010. Hastings's salary, however, was cut 3.7 percent, to $500,000.
Cablevision Systems Corp. (NYSE: CVC) EVP of Product Management John Trierweiler left the MSO quietly in January, representing another top exec to leave the cable operator in recent months, reports Multichannel News, noting that he was on board for the launch of several new products, including its 101Mbit/s Docsis 3.0 tier and network DVR. Trierweiler joined Cablevision in May 2006, previously serving as VP of marketing and product management at TW Cable, according to his LinkedIn profile. (See Engineering EVP Latest Exec to Exit Cablevision and What's Next for Cablevision? )
— Jeff Baumgartner, Site Editor, Light Reading Cable
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