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"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
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Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Netflix plans to spend $6 billion on original content in 2017, and that number is going up "a lot" in the future, CEO Reed Hastings told CNBC.
"As we grow the membership base, we want to grow the current budget," Hastings said on Wednesday, at the Code Conference in Rancho Palos Verdes, California. "There are so many great shows we don't have yet."
More shows and movies are needed to continue adding subscribers, Hastings said. That includes paying up for originals.
Netflix paid $60 million for Brad Pitt's "War Machine," which it released in theaters and on demand at the same time. Big movie theater chains have been reluctant to screen movies that appear on streaming services on the same date, but Hastings said consumer demand may change that in the future.
"We hope that over time that the theaters will wake up and say we should provide consumer choice," he said.
Competition from other streaming services and premium networks, which also are seeking original content, has driven up costs.
"It's been great for talent and writers," said Hastings. "There is so much competition. All the new players and the existing players like HBO are beginning to grow. It is this new age of television."
Netflix has kept its base monthly price at $7.99 for eight years. Hastings didn't say if it will increase prices in the future.