Insider Finance - Business - Insider Today: Netflix power move

December 13, 2023 • 5 min read

with Hallam Bullock

Hello! I’m filling in for Dan DeFrancesco today and writing to you from London — where, yes, we do have separate faucets for hot and cold water, as one expat recently pointed out.

Netflix just pulled the ultimate power move. We’re breaking that down in today’s big story.

On the agenda

But first, what are you streaming?

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Netflix's "The Night Agent." Netflix

The big story

Netflix's big power move

Where does all the time go? Watching Netflix, it seems. 

For the first time, Netflix released viewership data for almost all of its portfolio. The report, which represents more than 18,000 titles and covers some 100 billion viewing hours, ranked the streaming service’s most-watched shows and movies for the first half of 2023. 

Netflix has teased us with data before through releases of top 10 lists, but this is different. In the latest report, there’s a whole bunch of information for cinephiles to sink their teeth into.

It’s in stark contrast to the seemingly tight-lipped company of days gone. Netflix has been criticized in the past over a lack of transparency, which was a thorny issue in this year’s strikes by Hollywood writers and actors. 

However, Netflix Co-CEO Ted Sarandos said on Tuesday the data dump was not in direct response to the strikes. Instead, he suggested it was part of a more general shift toward increasing transparency.

That may be so, but the report will also help attract ad dollars and turn up the heat on other streamers — especially when shows like “The Night Agent” can log a mouthwatering 812 million viewing hours. The data release was, in many ways, a classic Hollywood power move. 

Although the report is nearly comprehensive, it isn’t without caveats. For example, by measuring total hours viewed, results are skewed toward longer movies and shows with more episodes

Perhaps I'm just bitter because none of my favorite shows made the rankings.

I just hope they didn’t end up among the thousands of titles that most Netflix users don’t watch. 

3 things in

Markets

🔔 Before the opening bell: US stock futures rise early Wednesday as investors await the Fed's latest policy decision.

Liu Jie/Xinhua via Getty Images

1. The Federal Reserve is set to make its last big decision of the year. The central bank is expected to announce a continued pause on interest-rate increases — which could signify good things to come for Americans in the new year. Here’s looking at 2024...

2. ‘Tis the season for hedge fund profits. Let’s turn the spotlight on Ken Griffin's Citadel, which is outperforming its hedge fund peers. Citadel will hand out $7 billion in profits to its investors, per the WSJ. The hedge fund’s flagship fund returned almost 15% this year, while hedge funds overall only averaged returns of 4.35%.  

3. Steve Ballmer’s big Microsoft payday. The former CEO is on pace to earn $1 billion in dividends annually from his massive stake in the software company, which soared to a value of $128 billion this year. (And while we’re here, save this for your next break: a look at nine of his zaniest moments, including that time he danced to Fergie.)

3 things in

Tech

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1. Big Tech wants to be your landlord. Corporations like Amazon, Google, Facebook, and Disney are using their sway and resources to build modern company towns. Their goals? Seemingly to one-up their competitors, attract and retain top employees — and ideally get people back in the office.

2. Travis Kalanick’s $15 billion startup has robots coming in now. At a recent CloudKitchens all-hands, Kalanick said the robots won’t unionize or quit. He added that their pronouns are bit/byte.

3. Video shows a Cybertruck getting towed by a Ford pickup. Tesla’s electric pickup truck appears to have gotten stuck on an off-road trail. In the video, the Cybertruck’s wheels kept spinning in a snow-covered field.

3 things in

Business

Kevin Dietsch/Getty Images

1. Fundraising could explain why Harvard’s president got to stay and Penn’s had to go. It’s an important part of a university president’s responsibilities. Several big Penn donors pulled or threatened to pull funding. Meanwhile, Harvard donors didn’t have such a large reaction.

2. SmileDirectClub customers are fuming. The invisible-aligners company is shutting down after filing for bankruptcy protection. But customers still have unfinished business: Incomplete treatments. Outstanding bills. No more customer care support.

3. Resy’s version of Spotify Wrapped went horribly wrong. The reservation company tried creating a personalized year-end review for users in the style of Spotify’s popular recap. But a coding error prevented users from actually seeing their recaps.

In other news

What's happening today

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For your bookmarks

Airline faux pas

Flight attendants reveal 13 things you should never do on an airplane. Their list of flying don’ts includes choosing tuna as an airplane snack and watching entertainment without headphones.

The Insider Today team

Dan DeFrancesco, deputy editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York City.

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