Netflix holds its own as other media companies rethink their strategies

Netflix Business leaders and investors probably won’t be enjoying their sodas after the release of third-quarter earnings. Although the company’s revenue was not as high as in the first and second quarters, it met expectations, but a tax dispute with Brazilian authorities reduced profits. Netflix stock fell about 6% in U.S. trading Tuesday.

But it doesn’t look like any other media company will dethrone Netflix as streaming king anytime soon. warner bros discovery The company said Tuesday it is open to a sale, even as Warner Bros. continues to move ahead with a split into two companies for now. And Netflix is ​​reportedly interested in selling the company, even as Warner Bros. is in the process of splitting it into two companies. In other places, comcast’s NBCUniversal currently has independent cable networks, including CNBC. These moves suggest that legacy media is still finding its footing in the streaming era started by Netflix.

There are many factors that contribute to Netflix’s golden status, but the star is probably its programming. “KPop Demon Hunters” released in June was a huge hit. The film is currently the company’s most-watched film, with 325 million views and no doubt played a big role in Netflix’s highest-ever ad sales in Q3. Even though the streaming giant’s revenue has slumped during this period, Netflix is ​​still showing other media companies how to do it.

— CNBC’s Sarah Witten contributed to this report.

Local media reported that India is close to reaching a trade deal with the United States. As part of the deal, the White House could reduce tariffs on New Delhi to 15-16% from the current 50%, according to India Media Mint on Wednesday. India may also reduce its oil purchases from Russia.

Netflix’s third-quarter profit was lower than expected. The company said the mistake was due to an ongoing dispute with Brazilian tax authorities. Revenues for the period were in line with expectations. He added that Netflix is ​​”fully committed” to artificial intelligence.

Japan’s exports return to increase in September. However, the 4.2% year-on-year increase was the first decline in four months and was lower than the 4.6% growth expected in a Reuters survey of economists. Shipments to Asia increased by 9.2% from the previous year, but shipments to the US decreased by 13.3%.

US stock trading is mixed. of Dow Jones Industrial Average Tuesday marked a record number of store closures in the state. of S&P500However, it is flat; Nasdaq Composite It fell by 0.16%. Asia-Pacific markets traded mixed on Wednesday. Korean Kospi led the rise, rising about 1%.

(PRO) “Buyback Aristocrats” are outperforming the market. This term refers to companies that have reduced their number of shares over a period of time. According to , their portfolios have outperformed the similarly weighted S&P 500 since 2012. goldman sachs.

The era of British conglomerates begins

Unlike in the United States, conglomerates (large companies that own large numbers of businesses in various sectors) have more or less disappeared in the United Kingdom. This idea was further reinforced last Friday when the Smith Group went. FTSE-100 An engineering firm has announced a major divestment in a bid to shed its status as a conglomerate.

The dissolution of Smiths marks the end of an era in which conglomerates dominated Britain’s largest companies. But the traces of Britain’s old conglomerates are everywhere.

— Ian King

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. With Comcast’s planned Versant spinoff, Versant will become CNBC’s new parent company.