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Ukraine: Explosive weight soldiers could put on drone surprised maker
Drones' explosive power is limited by gear, like batteries, that they must carry. But soldiers push gear to the limit, surprising even its makers.
Explosion, fire blast through Iowa Quaker Oats plant
An apparent explosion at the Quaker Oats plant in Cedar Rapids sent thick black smoke over downtown Iowa as firefighters battled the massive blaze.
'Multwoh' becomes highest-grossing film of CinePanalo
'Multwoh,' a queer romance-horror film, has become the highest-grossing film to emerge from the Puregold CinePanalo Film Festival, the film’s team said Sunday.
Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links
Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links New York City, USA, Oct. 25, 2026 (GLOBE NEWSWIRE) -- Founded by Rollo Unden and Oliver Fish, Unfair Links builds local backlinks matched to a business's Google Business Profile, country and language, and is now taking sign-ups for its beta waitlist. Unfair Links, a new link building
CEO SUNDAY: Atomic Wings CEO shares his journey from Wall Street to the restaurant business
Atomic Wings CEO Zak Omar shares how his father’s influence, a leukemia diagnosis and a commitment to customer service shaped his path to building a 35-location restaurant chain.
Paris Pressure: Saints Must Block Out the Chaos and Finish Their Business Against the Steelers
Powers Health Community Hospital Achieves Statewide Milestone in Treating Heart Valve Conditions
Powers Health Community Hospital has successfully performed Indiana’s first procedure using the SAPIEN M3™ transcatheter mitral valve replacement (TMVR) system, a minimally invasive treatment for …
Is it rude to keep the airplane window shades open?
In this Sunday edition of Business Insider Today, we're breaking down the flight etiquette debate that's dividing the internet.
4 Android phone features you should never disable when using Android Auto
Some settings are better left untouched
Best AI Tools for Small Business Marketing (2026): CapCut Featured for Creating Professional Video and Visual Content by Expert Consumers
Expert Consumers has recognized CapCut in its 2026 coverage of the best AI tools for small business marketing, highlighting the platform's collection of AI-powered features for creating and editing video, images, audio, and other visual content. The recognition reflects growing interest in tools that support practical marketing activities, including campaign development, promotional content production, and adapting creative assets for different digital channels.
This fifth-generation family business in rural Pa. is making 4,500 brooms for Salem
On Etsy, the Meckleys have made close to 20,000 sales.
Latino businesses still fearful amid ICE sightings 8 months after Operation Metro Surge
A handful of new Latino eateries have opened on Payne Avenue, as others have slashed hours or remain closed certain weekdays.
‘Talking to every single person matters’: ‘prairie populists’ canvass the rural US heartland to win in midterms
Democratic and independent candidates stump the US midwest and prairie states, hoping to win over Republican strongholds
UCLA Health expansion raises costs and concerns
UCLA Health has fast expanded its number of hospitals and number of clinics in recent years. Critics say the expansion is raising healthcare costs and question why it hasn’t included lower-income neighborhoods.
UCLA Health expansion raises costs and concerns
UCLA Health has fast expanded its number of hospitals and number of clinics in recent years. Critics say the expansion is raising healthcare costs and question why it hasn’t included lower-income neighborhoods.
With 52 Businesses Waiting, Charles County Weighs Expanding LaunchPad
LA PLATA, Md. — For dozens of Charles County entrepreneurs, getting a business off the ground includes another hurdle: waiting for a spot in a county training program. Economic development officials told the Charles County commissioners on Tuesday, Oct. 20, that 52 businesses remained on the waiting list for LaunchPad, a pilot program designed to […]
As vote nears, Trump’s AI gamble fuels economic uncertainty
Some of the world’s leading financiers are sounding increasingly alarmed about an AI bubble.
“We Have No Business up There” – Gattuso Insists Lazio Are Targeting 40 Points
Gennaro Gattuso urges Lazio to keep their feet on the ground and focus on modest objectives despite leading the Serie A table.Lazio Overcome Parma TestThe Biancocelesti raised their tally to 22 from a...
Country music’s richest singer has a stunning net worth of more than $1 billion
You might be surprised to learn who has the biggest bank account.
Guest Commentary: How anti-Muslim politics endangers every Floridian
The political caricature of Muslims as a national security threat bears little resemblance to the reality that Floridians are living, working, and raising families in peace with nearly half a million Muslims woven into the fabric of the state.
'Supercharging bras': The story behind Victoria's Secret's $6 billion business turnaround
Victoria's Secret is in the midst of a historic comeback, with sales surging and its stock on track to notch its best-ever year. What gives? https://bit.ly/4BhD84S
Inside Victoria's Secret's $6 billion business turnaround
Victoria's Secret is in the midst of a comeback, with sales surging and its stock on track to notch its best year ever.
Country music star retiring at 51: ‘Now that I’m leaving it’s gonna completely suck’
The singer is calling it quits when his tour is finished.
Country music star retiring at 51: ‘Now that I’m leaving it’s gonna completely suck’
The singer is calling it quits when his tour is finished.
I filed for bankruptcy after my wife died. Grief hurt my business.
After his wife died from cancer, Brian Rooney struggled to sustain his business while grieving. He filed for Chapter 7 bankruptcy in 2024.
Peoria businesses face dilemma at plaza owned by healthcare giant
The sale of MidTown Shopping Plaza to OSF HealthCare has left local business owners on edge. It has led to uncertainty, stalled investments and tenants bracing to start over elsewhere.
Business Matters: Central Mass. by the Numbers, Sunday, Oct. 25
A look at business news in Central Mass. over the past week.
My Co-Worker Is Losing It Over My Religion
Plus: Reader responses to a woman returning to the office after two decades of self-employment.
The Long Life of the ‘Snacking Occasion’
As eating habits shift, the food industry is promoting any opportunity to nibble.
Job-based health plan costs rise, with little relief in sight
Nearly half of large employers have increased the amount their workers must pay for health insurance — a response to rising premiums.
The boss whose twice-bust business appears to be back despite £3m debts
Andrew Woosnam took millions from his companies before leaving creditors including HMRC out of pocket
An Iowa Republican’s Unusual Connection to the Kochs (and Kansas)
In his campaign for governor, Zach Lahn has pitched himself as a self-made businessman. His backstory is more complicated.
He Took Big Risks to Make Billions. He Wants Georgia Voters to Bet on Him.
Rick Jackson’s run for governor as a political nobody was his latest gamble. The campaign has brought scrutiny to the businesses that made him a fortune.
He Took Big Risks to Make Billions. He Wants Georgia Voters to Bet on Him.
Rick Jackson’s run for governor as a political nobody was his latest gamble. The campaign has brought scrutiny to the businesses that made him a fortune.
We Linked 150 of Ikea’s $10 Speakers to Make a Wall of Sound
WIRED attempts what even the Swedish brand hasn’t: making a sonic monolith using scores of the cheapest Bluetooth speakers on the market. Can you have too much of a small thing?
Forget shopping for gifts — receiving them is stressing us out
Experts offer tips on how to manage the feelings of disappointment, guilt or anxiety when you get a bad or inappropriate present.
3 mental health habits that may help your blood pressure
Exercising and eating a healthy diet are important. But your mindset may benefit your health, too.
Business briefs: Harry Reid airport completes $71 million baggage upgrade
In Terminal 1, the work included upgrades to eight baggage carousels, replacement of eight others, new conveyors and new carousel columns with LED screens. In Terminal 3, the project upgraded the computer hardware and software that control the baggage system …
Survey reports rising cost of employer-sponsored health insurance
Employer health insurance premiums and deductibles rose again in 2026, according to a new survey from KFF.
That Girl Boina: How employee theft is hurting small businesses in Africa
That Girl Boina's post about why she had closed her beauty parlour struck a nerve with other small business owners.
Unwanted endorsement: Political ad causes uproar at Jerusalem's Lev Academic Center
Those who know the highly regarded college, which since 1969 has produced religious graduates with degrees in a variety of engineering fields and nursing, were likely surprised. Thousands of drivers a...
Building a rural business empire on the back of coffee beans
Lewie Graham runs a cafe, restaurant and coffee bean roasting business in Kirkcudbright.
10 African countries with the highest fuel prices in October 2026
Rising fuel prices are doing more than emptying motorists pockets across Africa; they are increasing business costs and making everyday essentials more of a financial challenge
USC Legend Tells Lincoln Riley "It just Ain't Working Out" as He Calls for "Tough Decisions" at His Alma Mater
Lincoln Riley is running out of excuses, and USC is running out of patience. Just a week after showing promise against Penn State, the Trojans embarrassed themselves in a 24-7 loss to Wisconsin, exposing an offense that looked completely lost.
Firms in Devon 'holding back' on new jobs ahead of Budget
Some businesses say they want to see employment costs come down in the October Budget.
What business thinks of the politicians and parties
Business leaders are hard to impress this election. In the Herald's annual “Mood of the Boardroom” survey, they give poor or middling marks to almost the whole political class, including the two former business executives running the Government's economic policy, and several ratings are among the wo
Tri-state people in business: New hires, promotions, recognitions
Medical Associates Clinic of Dubuque announced the following new hires:
Deion Sanders Forced to Turn to 5th Different QB Since Son Shedeur’s Exit as Colorado’s Offensive Struggles Hit All-Time Low
Deion Sanders traveled to Stillwater searching for answers under center. Instead, Colorado’s heavy 57-24 loss to Oklahoma State exposed a deeper crisis.
Colorado's collapse brings more scrutiny on Deion Sanders
Colorado's 57-24 loss to Oklahoma State raises questions about Deion Sanders and his staff after a second-half collapse extended the losing streak.
Misery Index: Texas Tech's big money and bigger talk can't save it from embarrassing loss
As the US and China form AI blocs, countries are increasingly torn between them
With the two leading AI powers, the United States and China, forming their own AI blocs, other countries are maneuvering to harness the strengths of both groupings without alienating either and risking losing out.
Carolyn Hax: Her parents know all their business. That’s weird, right?
Now that they’re living together, letter writer wants to ask girlfriend for “more typical” communication with her parents.
AFP boss says politicians’ heated rhetoric is fuelling threats against MPs
Commissioner Krissy Barrett says women are more often singled out, often with threats of sexual violence
1 player Eagles must target at 2026 NFL trade deadline
If the Philadelphia Eagles make any more trades before the 2026 trade deadline , it should almost certainly be as sellers, not buyers. Now sure, could Roseman find a bargain on the margins and make a move, like if a team is willing to take a conditional seventh-round pick for a player at a position of need – safety, anyone? -instead of releasing […] The post 1 player Eagles must target at 2026 NFL trade deadline appeared first on ClutchPoints.
More than barbecue: Lexington festival brings big business and a community together after devastating fire
Five takeaways from USC’s embarrassing 24-7 loss to Wisconsin
What did we learn from the Trojans’ pathetic performance in Madison Saturday evening?
"Marvel's Wolverine" Topped Game Sales Chart
PlayStation and Insomniac Games’ “Marvel’s Wolverine” debuted as the best-selling game of September in the United States, according to analytics firm Circana. Using the full game sales data of both physical and digital copies, the PlayStation 5 exclusive delivered the highest launch-month dollar sales for a Sony-published game since “Helldivers II” in early 2024. That […]
Kawhi Leonard breaks silence on NBA fine after Clippers investigation
The superstar forward addresses his six-figure penalty as Toronto moves past a massive league investigation, focusing on a championship run alongside Scottie Barnes and RJ Barrett.
Kansas City leaders, non-profits and businesses turn unity into investments
Neighborhood leaders, nonprofits and businesses packed into Kansas City, Kansas, on Saturday, focused on turning unity into real investments.
Mount Morris residents protest ICE arrest of longtime business owner
Rui Hachimura Showed Love To Lakers After Clippers Debut
The end of Rui Hachimura’s time with the Los Angeles Lakers saw him choosing to sign with the same town rival. Hachimura joined the Los Angeles Clippers in NBA free agency and played his first game against the Lakers last night. Despite losing the game, Hachimura was in positive spirits afterwards when asked about the […] The post Rui Hachimura Showed Love To Lakers After Clippers Debut appeared first on HEAVY.
READERS' CHOICE | Impact Realty Group makes its mark with Best Small Business win
A locally owned and operated real estate brokerage has been named Best Small Business in the 2026 Texarkana Gazette Readers' Choice Awards.
Singapore Airlines to Introduce Next-Generation KrisWorld In-Flight Entertainment from 2027
Singapore Airlines will introduce its next-generation in-flight entertainment system, KrisWorld, from 2027 onward. The system will be installed on a total of 41 refurbished Airbus A350-900 and A350-900ULR aircraft, as well as on Boeing 777-9 aircraft scheduled for future delivery. It will feature 4K high-resolution touchscreens, spatial audio, noise-canceling headphones, and Bluetooth connectivity for passengers’ personal headphones. More than 2,500 items of content, including movies, television programs, music, and podcasts, will be updated monthly. The system will also include a “Wellness Planner” featuring sleep and meditation tracks, breathing exercises, and stretches that can be done at passengers’ seats. In addition, Starlink high-speed in-flight Wi-Fi service will be progressively introduced from […]
Miami's Israeli gold rush: Michelin-starred restaurants, billion-dollar deals and booming businesses
From a Michelin-starred kosher restaurant and Eyal Shani's growing presence to massive real estate deals, Israeli businesses are flourishing in Miami; but soaring costs, bureaucracy and distance from family are testing the American dream
Jacksonville Jaguars’ Major Offensive Issue After 4-2 Start Revealed
The Jacksonville Jaguars’ 4-2 start has been overshadowed by a recurring offensive problem, as penalties continue to erase scoring opportunities and disrupt drives. Costly infractions have prevented the team from maximizing its production, raising concerns about discipline as Jacksonville looks to remain competitive in the AFC. The Jaguars have already had three touchdowns wiped off […] The post Jacksonville Jaguars’ Major Offensive Issue After 4-2 Start Revealed appeared first on Gridiron Heroi
Black Power Marketplace highlights Black-owned businesses in Rochester
Rochester, N.Y. — The Community Justice Initiative held the Black Power Marketplace, which featured local vendors that offered food, clothes, art, wellness serv
Malta Drive-In added to NY historic business registry as it closes for season
With Halloween approaching, the Malta Drive-In is getting into the holiday spirit while also preparing to close for the season.The drive-in is being added to th
14-year-old entrepreneur’s slim business reaches millions online
A 14-year-old entrepreneur’s slime business has reached millions online and gained 21,000 followers in 23 days.
Lakers’ Dalton Knecht Trade to Bucks Collapsed Over Surprising Demand
The Lakers' proposed Dalton Knecht trade with Milwaukee fell apart over one demand, leaving a potential frontcourt upgrade unrealized. The post Lakers’ Dalton Knecht Trade to Bucks Collapsed Over Surprising Demand appeared first on HEAVY.
What Bears Saw Before Hims & Hers Health Slid
If you only glanced at the headlines on Hims & Hers Health, the story looked exciting. AI-native care, GLP-1 partnerships and global expansion sounded like the textbook setup for a win. For Hims & Hers Health shareholders, the loss over the past year was 43.2%, including dividends. If you had been deciding whether to buy on 23 October 2025, what clues were already on the table about rising costs, legal risk and dilution pressure? Hims & Hers Health is not the only name tied to this theme...
New evidence suggests spinosaurus spent most of its life underwater
Millions of years after animals first conquered land, some took an extraordinary evolutionary U-turn and returned to the water. Using machine learning and thousands of fossil measurements, Yale scientists have uncovered surprising clues about which prehistoric creatures truly became aquatic. Their findings suggest that Spinosaurus spent most of its life underwater, while some ancient marine reptiles previously thought to be fully aquatic actually spent considerable time on land.
FEMA deadline approaching for NW Indiana residents, businesses impacted by Aug. 11 storms
Trump says US will do business with Ukraine, Russia after war ends
US president says he would like to ‘get back to life where Russia and Ukraine make a deal’ | Anadolu
'Arguably Better Than Face ID': the iPhone Duo Touch ID Tip to Try
An iPhone Duo owner has shared a Touch ID tip on Reddit they claim is "arguably better than Face ID". It involves registering the lowest part of your index finger instead of the pad of your fingertip. The poster says this segment rests naturally against the side button during pickup and unlocks the phone as you lift it, and it seems at least some users agree. The tip has since been shared on the MacRumors forums, where another Duo owner reports it working for them.
Pagosa Springs businesses race to recover from flooding
No injuries reported in Grand Junction pet care business fire
No people or pets were hurt after a fire this afternoon at Puppy Love Grooming on North Avenue, according to the Grand Junction Fire Department.
Watch Inde Navarrette's Rogue X-Men Southern Accent
She'll star in the MCU reboot alongside Sadie Sink (Jean Grey), Kit Connor (Cyclops), Christopher Abbott (Prof. X), Samara Weaving (Emma Frost), Inde Navarrette (Rogue), Maya Boyd (Storm), Asa Germann (Angel) and Adam Driver (Mr. Sinister).
Denver Film declares John Cho an outlaw
Dispatch from the Denver Film Festival: Evolving comic actor John Cho accepts award and talks about his sinister turn as a cult leader ... Local filmmakers make the case for stronger Colorado film incentives. That and more.
Job-based health plans get more expensive, with little relief in sight
Rising healthcare premiums and worker contributions are putting significant financial pressure on American families and employers, with experts projecting even steeper cost increases for upcoming plans.
Young entrepreneurs showcase businesses at Future Makers Youth Market in OKC
Kids in Oklahoma City, from grades 4 through 12, showcased their businesses and learned about entrepreneurship at the Future Makers Youth Market on Saturday.
Sabonis Records Efficient Triple-Double in Kings Loss
The Lithuanian big man mirrored Wilt Chamberlain’s historic efficiency, yet his monster performance couldn't mask Sacramento's closing struggles.
Has Deion Sanders Started to Feel the Pressure in Colorado?
With a ballooning salary and a losing record, Coach Prime faces a harsh reality in Boulder as the Buffaloes struggle to snap a decades-long postseason drought.
Atomic Wings CEO Zak Omar on leadership, family and building the business
Atomic Wings CEO Zak Omar shares how family, personal challenges and lessons in leadership helped shape his career and grow the chain to 35 locations.
Dundalk Florist to close after 115 years in business
Dundalk Florist will close after more than a century of serving Baltimore County residents in need of flowers, plants and other gardening essentials.
Small businesses struggling with inflation amid Trump tariffs ahead of midterms
Addressing mental health and loneliness through art: LaunchSpace's SocialRx program gets United Way funding support
LaunchSpace's SocialRx program received a $75,000 grant from the United Way of Franklin & Hampshire Region to boost regional wellness.
Tiger Woods Gets Double Good News as Vanessa Trump Shares Health Update
Tiger Woods remains a presence in golf through his playing career, business ventures, and course-design work. His TGR Design firm has worked on several projects, while a proposed development in Northern Ireland has attracted attention from the golf industry.Away from golf, Woods has also drawn public interest through his relationship with Vanessa Trump. The couple […] The post Tiger Woods Gets Double Good News as Vanessa Trump Shares Health Update appeared first on HEAVY.
Four injured after car crashes into Hendersonville business, officers say
Four people were taken to a hospital after a car crashed into a business Saturday morning, police said.
Auburn's Georgia Momentum Disappears in Ugly Loss to LSU
Auburn football suffered a 38-17 loss to LSU at Jordan-Hare Stadium, falling to 4-3 after upsetting No. 1 Georgia. Sam Leavitt torched Auburn's defense for 387 passing yards, while Byrum Brown and the Tigers' offense struggled to find rhythm ahead of next week's matchup at Ole Miss.
Comedian Charlie Berens has made Wisconsin politics a laughing matter
NPR's Sacha Pfeiffer speaks with comedian and former journalist Charlie Berens. His comedy blends political satire with a distinctly Wisconsin sense of humor.
How data centers became a bipartisan political issue in Wisconsin
Data centers are a big issue across the country. As midterms approach, many look to the swing state of Wisconsin for lessons for how that issue could play out nationally.
Man dead after running into Meriden business for help following stabbing
Police believe the stabbing incident likely occurred on Pratt Street on or near the Green.
In first midterm rally, Obama blasts Trump administration
Democrats have embraced the former president as their most effective closing messenger in the final weeks of the high-stakes midterm campaign.
Couple Turns Lifelong Dream of Saving ‘Old, Dilapidated’ N.Y.C. Brownstones into a Growing Business (Exclusive)
One couple has turned their passion for restoring historic New York City guesthouses into a family business while raising three daughters and renovating every property during a pregnancy.
Los Angeles health authorities report 2nd second rabies-positive raccoon
In a follow-up on the report a rabies-positive raccoon found in Los Angeles County, the first in more than 5 decades, the LA County Department of Public Health is investigating a second rabies-positive raccoon found in the Westlake Village area of Los Angeles County. Public Health has confirmed that the first raccoon was positive for a variant of rabies typically found in bats. Strain testing for the second raccoon is currently pending. The second rabid raccoon was found in a backyard in the vicinity of where the first raccoon was reported and appeared sick and aggressive. No residents or pets were exposed to the raccoon. Two people at a worksite may have been exposed to the raccoon and are receiving recommended follow-up for rabies post-exposure prophylaxis. The World’s Deadliest Viruses Prior to these detections, the last confirmed rabid raccoon in Los Angeles County was detected in 1973, when the skunk variant (strain) of rabies was still present in the County. That strain has not been detected in Los Angeles County since 1979. In 2014, a skunk infected with the bat variant of rabies was detected in Long Beach. “The detection of rabies in another raccoon is an important reminder to never touch, handle, or feed any wild animals, even when they appear healthy,” said Muntu Davis, MD, MPH, Los Angeles County Health Officer. “Always keep a safe distance from wildlife and contact your local animal control if you encounter an animal that appears to be sick, injured, or behaving unusually. It is also critical to ensure your pets are up to date on rabies vaccination so they are protected before any potential exposure. Keeping your pets vaccinated is one of the most important steps you can take to protect your entire family.” Outbreak News Today is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Oakland County business accused of making false statements to obtain federal loan agrees to $1M+ settlement
A Wixom, Michigan, business accused of making false statements to obtain a loan it was ineligible for has agreed to pay a settlement of just over $1.5 million after it was sued by the federal government, according to the Department of Justice.
Jesse Welles sang about politics and insects — and covered Black Sabbath and Bob Dylan
The rapidly rising "Join ICE" protest singer played solo and with a band on North Broad Street, and covered Bob Dylan, Black Sabbath, and Creedence Clearwater Revival.
A woman owned small business opportunity through a popular Valley farmer’s market
Among the rows and rows of homemade items and other one-of-a-kind creations found at the Pinnacle Peak Farmers Market, woman owned business proprietor, Tara J. Harley offers something shoppers have a difficult time finding: handmade jewelry where every piece a unique creation. Harley, owner of Lady J’s Creations, designs unique handmade jewelry and brings her...
Netflix’s Leadership Shake Up…Explained
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, I had a simple article planned for this week. Called “Whoa, I Missed It!”, I’d take a gander at a few important-but-under-the-radar stories I didn’t cover while I wrote about all things “Skydance. (Formerly known as “the saga of Netflix trying to buy Warner Bros., but not Discovery, then Paramount-Skydance bought all of Warner Bros. Discovery”.) Alas, that article will have to wait. Netflix made news. Ironically, my “Whoa, I Missed It!” article would have mostly been about “content” strategy decisions, which is also what today’s article is about. But instead of the entire industry, this article will only cover Netflix’s decision to upend their film and TV content teams. Just that! So that’s the full topic of the day. I’m going to tackle the issue in the opposite direction of the way “stuff” flows: uphill. We’ll start at film, then move onto TV, and then onto the CEOs themselves, and the strategy questions that still remain. But we start with the numbers driving this. Let’s dive in. Subscribe Most Important Story of the Week - Netflix Upends Their Corporate Hierarchy I’ve got a lot of thoughts, but we’ll start with the most common response to yesterday’s article. Let’s Talk Stock Price More than one person, responding to what I published two days ago, pointed out that, well, actually, the thing driving Netflix’s actions is this: In short, stock price! Even if Netflix isn’t obsessed with their own share price—they probably are, but, for the record, my strategic advice to every CEO is to absolutely ignore stock prices, which will, ironically, probably help the stock price long-term—most everyone thinks they are. By the way, I prefer market capitalization to stock prices, because it’s a more apples-to-apples way to compare companies: But there’s an even better way to look at it, and it kinda casts some doubt on the entire push here: price-to-earnings. I have a long list of articles that I wish I had written, and chief among them is an article titled, “Am I Still a Netflix ‘Bear’?” meaning someone who thinks Netflix’s stock is overvalued. As of last summer, Netflix had solved their biggest problem—which for me (circa 2019) was the lack of free cash flow—but their stock was CRAZY overvalued. That’s this chart here: Why did Netflix’s stock price increase to a price-to-earnings ratio of 50 last summer? What financial metric changed so quickly? Nothing. Given that, historically, mature entertainment companies average 10 to 20, with 16 being the average, that increase made little sense. Netflix’s stock swoon these last eight or so months wasn’t irrational; the stock price rise last year was. So if you want a really hot Netflix take, here it is: Netflix’s stock price has been going down because the financial industry recovered its senses, not because of any strategic mistake. Yes, that would imply that cleaning house may have been a mistake. That’s why the charts yesterday are so important, because they show that Netflix did have a strategic problem (a lack of hits) and that’s what they moved to address. (One could also argue the industry drastically overrated Netflix’s growth prospects, but that’s a financial industry problem, not a Netflix strategy problem per se. Some growth estimates are just crazy. *cough* AI *cough*) Now, the last time Netflix’s stock price crashed—circa 2022—it gave them an opening. I’d argue Netflix insiders knew they needed to expand post-COVID-19 crisis, adding advertising, cracking down on password sharing, and dabbling in sports. But if they had done that when their stock price was high, it would give folks a reason to second guess their strategy. (Arguably, last year, when Netflix pursued the Warner Bros. merger, it gave the industry a chance to review their business.) Instead, after the 2022 fall, they had the opening to make strategic changes. We may see Netflix pivot again following this latest slide. For example, the “binge versus weekly” conversation is alive and well again. Same for expanding into theaters even more. And adding both linear channels and streaming bundles. And maybe more either social, user-generated, vertical, or creator content. But the first shift came with who is making the content calls. A Message from Our Sponsor Last winter Pulp Fiction was on Netflix. For those same 90 days, it was also free, with ads, on Pluto TV and the Roku Channel. That is not a glitch, and it is not rare. The title has run on 20 different US streaming services since 2019, across 80 separate windows, and for more than 600 of those days it sat on a paid subscription service and a free ad-supported one at the same time. Almost nobody can see this, because when a title leaves a service, the record that it was ever there tends to leave with it. Reelgood keeps that record, dated to the day rather than the month: 4MM+ movie, show and episode titles across 300+ services globally, with timestamped arrivals, departures and moves across SVOD, AVOD, TVOD and vMVPD. Licensing teams price against every prior window. Rights teams check what a licensee actually delivered, and when. Pick a title you think you know: data.reelgood.com/title-availability Film - Dan Lin Want to know why I don’t opine on individual film or TV executives, especially new hires? Dan Lin. As I always caution, it’s really, really, really tough to predict which executives will succeed in new roles and which won’t. The successful head of co-production/finance partner, Rideback, Lin was considered for the head of DC Studios job before taking the job as the head of Netflix. By all accounts at the time, this was a smart hire. (That’s my read of the news coverage anyways.) But now that Netflix has fired Dan Lin, we got a slew of news stories about how he was doing a terrible job. In sports media, Bryan Curtis, new Substack writer/podcaster from The Ringer, calls this the “now you tell us” story, when you only hear the bad news after a star athlete leaves a sports team. In this case, now they tell us that Dan Lin was bad with talent after he got kicked out the door. So was Dan Lin a flop? It’s actually tough to say. While film moves faster than TV, even two years isn’t really enough time to evaluate a person’s output. The new head hasn’t really taken control. As Emily Horgan noted, it takes much longer than two years to produce animated films, so yeah, it’s definitely too early to judge in that domain. As for live-action films, I just published an article by Brandon Katz called “Netflix’s Summer of Bummer”, but I’d point out Netflix had a bad summer two years ago too. Arguably, their best summer came from KPop Demon Hunters last year and Happy Gilmore 2, the latter of which I saw credited to Lin. Then, the stories came out that Dan Lin clashed with talent, both Ben Affleck and Greta Gerwig, classic “now they tell us” factoids to explain his firing. This may have been true, but also should have been expected given that he was given the mandate to bring budgets back in check, especially after Rebel Moon. So if he made folks upset, well, that’s what he was hired to do! But also, he was described as “well-liked” at his hiring! In that case, I’m a bit sympathetic to Lin, since he may have been undercut by senior leadership, as often happens. Basically, a CEO hires a subordinate to be their “bad cop” and keep budgets in check, but then when talent complains, the CEO ends up undercutting them. That’s how I think you end up with a Narnia movie as expensive as any of the other flops, along with a film executive the town no longer likes. As a result, I think that Netflix is now executing a classic “hire the opposite” move by hiring Peter Rice. This phrase comes from my experience following football and basketball coaching decisions, where teams generally hire the opposite of who they just had. If you have an offense-minded head coach, hire the defensive guy. Or in college football, if you have a strong recruiter, then you pivot to an “X’s and Os” type of guy. Or in pro basketball, if you have a very analytically minded coach, you hire the player-friendly guy. I see that here. After dropping Scott Stuber—arguably a talent-friendly executive with lax budget control—Netflix hired the business guy to keep costs in check. Now Netflix is pivoting back to Peter Rice and presumably a more talent-friendly regime. (Disney, by the way, has done this twice: hiring business guys to succeed talent-friendly Bob Iger. It didn’t work out last time.) When it comes to Peter Rice…we’ll see! Maybe he works out, but maybe he doesn’t. I’d actually say the biggest problem is that Netflix still hasn’t solved its “IP Problem”, in that they don’t own much IP, so they just have a lower hit rate. The new executive won’t solve that. (Though buying Lionsgate would help.) Share “Content” - Bela Bajaria I almost published yesterday’s article after this column, but ended up flipping the order, because it told the story so well. So if you want the data for why Netflix is looking at TV to fix their problems, it’s in that article, this graph in particular: I know I just wrote that it’s often hard to judge executives, but Bajaria ran TV for six years and film for three and a half more. That’s more than enough to judge hit rates, and Netflix needs more hits. That’s the story. Since 2023, Netflix hasn’t had as many hit shows as it used to, and many of its previous power house TV shows have ended their runs (Stranger Things most of all). Also, many shows from 2020 to 2022 probably pre-dated Bajaria’s tenure. (That said, one thing may have been outside of Bajaria’s control, which I explain below.) Let’s lump some content strategy thoughts about Netflix and TV into one place: We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why I partially blame Squid Game for Netflix’s latest troubles… What is “the football trap”... Why it might not be the TV shows or films’ fault at all… What change I don’t think Netflix will make... How Bela Bajaria evolved Netflix’s TV strategy in smart ways… Whose departure likely submarined Bajaria’s final few years… One sneaky explanation for Netflix’s content struggles... And a whole lot more... ...please subscribe! We can only keep doing this great work with your support.
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