Mr. Cooper Grows Servicing Portfolio to $548B

first_img mortgage Mr. Cooper Originations Pacific Financial Servicing Seterus 2019-03-07 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Servicing Two key acquisitions—Pacific Union Financial and the Seterus mortgage servicing platform—that were closed in February, fuelled Mr. Cooper’s business growth during the year. On Thursday, the company reported that its servicing portfolio grew to $548 billion in 2018, up 7 percent quarter-over-quarter and 8 percent on a year-over-year basis.While the company reported a full-year combined net income of $1,038 million, it reported a net loss of $136 million for the fourth quarter, principally driven by a loss of $188 million on the net fair value mark-to-market of its mortgage servicing rights (MSR) portfolio. The change in fair value mark-to-market revenue compared to the prior period was primarily due to a lower interest rate environment, the company said in its filing.”The Company is coming off a period of strong growth and a very high level of activity in 2018, including the WMIH merger, the name change to Mr. Cooper Group, and three acquisitions. Now it’s time for us to integrate these transactions and focus on profitability,” said Jay Bray, Chairman and CEO of Mr. Cooper Group Inc.On the servicing side, the company said that at year-end, the carrying value of MSR was approximately $3.7 billion. Excluding the mark-to-market, the servicing side of the business earned $88 million in pretax income during the quarter.Mr. Cooper said that excluding $5 million in business shutdown costs, its originations side of the business earned a pretax income of $16 million in the fourth quarter. For the full year, originations earned a combined pretax income of $94 million. Funded loans totaled approximately $5.4 billion, up 5 percent quarter-over-quarter, with $2.3 billion from the consumer direct channel and $3.2 billion from the correspondent channel, the company said.”Our fourth quarter results showcased the growth and margins of the company’s market-leading servicing platform, and by executing on our servicing transformation initiative, project Titan, we intend to drive further efficiencies and improve the servicing experience for team members and customers,” said Chris Marshall, Vice Chairman of Mr. Cooper Group Inc.Mr. Cooper subsidiary Xome, which provides real estate solutions including property disposition and field services to Mr. Cooper and third-party clients recorded a pretax loss of $2 million in Q4 2018, Mr. Cooper said in its filing. The decline in pretax income quarter-over-quarter was driven by the integration of Assurant Mortgage Solutions (AMS) and lower exchange property listings sold. Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Previous: Investing in the Zone Next: Paying the Price for Housing Related Articles About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago March 7, 2019 3,476 Views Tagged with: mortgage Mr. Cooper Originations Pacific Financial Servicing Seterus Home / Daily Dose / Mr. Cooper Grows Servicing Portfolio to $548B Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Mr. Cooper Grows Servicing Portfolio to $548B Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribelast_img read more

CUs: Join NAFCU’s Berger, senior leaders for 2021 look ahead

first_img This post is currently collecting data… As 2020 winds down, NAFCU’s Q4 Member Webinar provides credit unions with a unique opportunity to look ahead to the new year and hear key updates to finish the year strong and prepare for any potential opportunities and challenges coming in 2021. During the webinar, happening Dec. 15, NAFCU President and CEO Dan Berger will be joined by other senior leaders to share what NAFCU has store to help credit unions grow in the coming year.NAFCU Executive Vice President and COO Anthony Demangone, Executive Vice President of Government Affairs and General Counsel Carrie Hunt, and NAFCU Services President Randy Salser will join the call to share insights, including trends credit unions should prepare for, and answer questions.Here are some of the topics that will be covered:Hunt will discuss NAFCU’s recent advocacy efforts, including priorities sent to Congress and regulators, a recent meeting with the Biden-Harris transition team, and 12 key issues that should be addressed before the end of the year; This is placeholder text continue reading »center_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Irish rugby side back on the training pitch

first_imgThe 6 Nations champions failed to impress in Sunday’s victory over Italy, which sealed their place in the quarter finals.Sexton says Ireland have to raise their game for the group decider against France on Sunday.There’s also pool matches today at the World Cup.The opening match features the two minnows in Pool D as Canada take-on Romania at the Leicester City Stadium, where kick-off is at 16:45.The late game tonight is in Pool A where Uruguay will face Fiji from 8pm. Joe Schmidt will be putting his players through their paces at the Celtic Manor Resort in Wales ahead of Sunday’s battle with France for the top-spot in Pool D.Centre Jared Payne will hope to play a part in today’s session after spending most of the weekend in a protective boot because of his bruised foot.Jonathan Sexton says Ireland will need to improve significantly to succeed at the World Cup.last_img read more

Week 10 Fantasy PPR Rankings: Tight end

first_imgReminder: Check back for updates during the week. MORE WEEK 10 DFS: Stacks | Values | Lineup BuilderWeek 10 PPR Rankings: TEsThese rankings are for full-point PPR leagues.RankPlayer1Travis Kelce, KC @ TEN2Hunter Henry, LAC @ OAK3Darren Waller, OAK vs. LAC4Austin Hooper, ATL @ NO5Mark Andrews, BAL @ CIN6Greg Olsen, CAR @ GB7Gerald Everett, LAR @ PIT8O.J. Howard, TB vs. ARZ9Vance McDonald, PIT vs. LAR10Eric Ebron, IND vs. MIA11Jonnu Smith, TEN vs. KC12Kyle Rudolph, MIN @ DAL13Jared Cook, NO vs. ATL14Jack Doyle, IND vs. MIA15Irv Smith Jr., MIN @ DAL16T.J. Hockenson, DET @ CHI17Mike Gesicki, MIA @ IND18Ross Dwelley, SF vs. SEA19Chris Herndon, NYJ vs. NYG20Jason Witten, DAL vs. MIN21Jimmy Graham, GB vs. CAR22Tyler Eifert, CIN vs. BAL23Jacob Hollister, SEA @ SF24Tyler Kroft, BUF @ CLE25Trey Burton, CHI vs. DET26Rhett Ellison, NYG @ NYJ27Demetrius Harris, CLE vs. BUF WEEK 10 NON-PPR RANKINGSQuarterback | Running back | Wide receiver | D/ST | KickerThe names at the top of our rankings should all look familiar. Beyond that, we have Eric Ebron and Jack Doyle with prominent placement against the Dolphins, along with a seemingly healthy O.J. Howard against the Cardinals. You shouldn’t have to dig too much further this week, but if you must, Kyle Rudolph should play well if Adam Thielen (hamstring) is out for Minnesota.WEEK 10 PPR RANKINGS: Running back | Wide receiver | Tight endAnd if you’re one of those cool guys in a 24-team league, take note of the situation in Cleveland, where TD-dependent Demetrius Harris could start getting more looks with Ricky Seals-Jones (knee) potentially injured.MORE WEEK 10:Waiver pickups | FAAB planner | Snap counts | Trade values | Fantasy playoff SOSYou won’t have to replace much on bye this week at TE. The biggest name off is Zach Ertz, along with Dallas Goedert, Darren Fells, Benjamin Watson, Noah Fant and the unexciting TE corps in Washington and Jacksonville.WEEK 10 DFS LINEUPS:Y! cash | Y! GPP | DK cash | DK GPP | FD cash | FD GPP Week 10 is yet another week of barely changing the standard TE rankings to fit PPR scoring. So, instead of lamenting that nothing changes, let’s talk about Mike Gesicki. That name probably rings a bell. Maybe you watched the current Dolphins TE make an impressive catch in the Rose Bowl for Penn State against USC a few years ago. Maybe you were all excited that a Miami offense devoid of weapons in 2019 would involve him more (oh wait, that was me). Maybe you even gave him a bye-week fill-in play when the Dolphins took on the Redskins. Regardless, I’d imagine very few of you played him in Week 9, when he had six catches for 96 yards. You couldn’t even really call Gesicki a sleeper last week — there was basically nothing to suggest that he’d ball out the way he did. That, too, can fit the TE position as a descriptor this season: Frustratingly unpredictable. Even less of you would have played Jacob Hollister in Week 9. He’s not even Seattle’s top tight end. But he caught two touchdowns, including the walk-off winner for the Seahawks in overtime. He, like Gesicki, is athletic but not usually involved in the offense. And he, like Gesicki, probably should remain on fantasy waiver wires. But with six teams are on bye this week, and you could always take a shot that those two will continue their production.last_img read more

Midget Football Roundup…Season reaches halfway point

first_imgThe Allegheny County Midget Football League season is halfway done and it is turning out to be a good one. Let’s take a look at the leaderboard to see your how your community is faring:*****ACMFL Results This week’s standings: 1. Hill District 4-01. Garfield 4-0 3. Homewood 2-1-1 4. Braddock 2-24. North Shore 2-24. North Side 2-24. Wilkinsburg 2-28. Lincoln 1-2-19. Clairton 0-49. West Pittsburgh 0-4 Termites – 12-12;Mighty Mites – 7-6 Homewood;Midgets – 12-6 LincolnClairton vs. Garfield: Twerps – 33-0 Garfield; Termites – 20-0 Garfield; Mighty Mites – 41-27 Garfield; Midgets – 49-7 – GarfieldOverall Standings: 1. Hill District: 14-1-12. Garfield 13-33. Homewood 10-64. Wilkinsburg 9-6-15. Lincoln 7-7-26. North Shore 7-8-17. Clairton 5-10-18. North Side 3-12-110. Braddock 3-1310. West Pittsburgh 3-13(Take a look at our week-by- week coverage of the ACMFL on our website, www.newpittsburghcourieronline.com and leave your comments; D.W Howze can also be reached at [email protected] .) RESULTS:Braddock vs. North Side- Scores still not reported; Twerps -North Side; Termites- North Side; Mighty Mites– Braddock; Midgets-BraddockHill District vs. West Pittsburgh: Twerps – 33-0 Hill District; Termites – 42-0 Hill District; Mighty Mites – 32-20 Hill District; Midgets – Hill District won by forfeit. Wilkinsburg vs. North Shore: Twerps – 19-0 – Wilkinsburg; Termites – 6-8 – North Shore; Mighty Mites – 0-18 – North Shore; Midgets – 33-19 WilkinsburgLincoln vs. Homewood: Twerps – 28-0 Homewood; HEADS OR TAILS—The captains watch the coin toss by referee Carmen Trobato of Squirrel Hill. Trobato is in his 49th year of officiating. The North Shore Stallions won the toss. On his first of two touchdowns for the day, Shyaire Howard runs for a 41yard score for the North Shore Stallions. last_img read more

STABLE NOTES BY ED GOLDEN – SUNDAY MAY 29, 2016

first_imgChad Lindsay2241118%27%$76,230 Philip D’Amato451211527%62%$756,060 Hector O. Palma833038%75%$59,490 Fernando Perez333339%27%$151,140 Martin Jones930033%33%$144,100 Tiago Pereira52581010%44%$211,968 Steven Miyadi1233025%50%$87,895 Edwin Maldonado7115121021%52%$568,086 CHAMPION SONGBIRD WORKS TOWARDS HER RETURNFANTICOLA HAS BETTER DRAW IN MONDAY’S GAMELYEDWIN MALDONADO IS KING OF THE TWO-YEAR-OLDSOBVIOUSLY DRILLS FOR THIRD SHOEMAKER VICTORY Rafael Bejarano7315121221%53%$853,985 Simon Callaghan1231125%42%$142,830 Stewart Elliott423527%24%$181,500 Mike Puype3063320%40%$216,405 Tim Yakteen1334123%62%$131,438 JockeyMts1st2nd3rdWin%ITM%Money Won Richard Mandella1834317%56%$218,415 Flavien Prat53167630%55%$728,020 Santiago Gonzalez711012914%44%$500,975 Drayden Van Dyke3133410%32%$175,550 Edward Freeman1031230%60%$95,930 -30- Doug O’Neill363858%44%$318,350 Peter Eurton1850228%39%$219,370 TrainerSts1st2nd3rdWin%ITM%Money Won Brayan Pena323479%44%$85,585 Martin Garcia4564613%36%$385,130 SANTA ANITA STATISTICS John Sadler3162319%35%$378,705 Mario Gutierrez2636012%35%$306,320 MALDONADO ENJOYS HOLIDAY ON TWO-YEAR-OLDSMeet Edwin Maldonado, King of the Two-Year-Olds.The 33-year-old native of Columbus, Ohio, who is represented by agent J.R. Pegram, is in a pitched battle for Santa Anita’s Spring Meet riding title, thanks in the main to his remarkable success on two-year-olds.From nine mounts aboard “babies” this year, Maldonado has won seven, twice at Los Alamitos and five times at Santa Anita, including Saturday when he piloted Cioppino Pasadino to a 4 ¼-length score for trainer Gary Sherlock in the second race at an $18.40 win payoff.“He’s number one among 269 jockeys in two-year-old earnings this year with $241,645,” pointed out Pegram, “and he’s also first in wins on two-year-olds.”“I like being on younger horses,” said Maldonado, a refreshing presence in the Southern California riding colony. “It’s exciting. It’s like opening a Christmas present. You don’t know what you have until they run.“Riding good horses for trainers like (Mike) Harrington and (John) Brocklebank who always seems to do well with babies make it easier for me, and it helps to have a little luck at the break.“I got a off to a good start this meet. The last time that happened, at Hollywood Park, I won the title, so based on that, I think I have a good shot to win it here.“In past meets, it seemed I got off to slow starts and had to finish strong to catch up. Now I’m in a better position, up front with others trying to catch me.”FINISH LINES: Obviously, in quest of his third straight win in the Grade I, $400,000 “Win and You’re In” Shoemaker Mile next Saturday, June 4, worked six furlongs on Santa Anita’s training track Sunday for Phil D’Amato in 1:10.60. Fractional times for the eight-year-old Irish-bred gelding were 23.20, 34.80 and 45.60. Probable for the Shoemaker: Heart to Heart, Julien Leparoux; Home Run Kitten, Joe Talamo; Midnight Storm, Rafael Bejarano; Obviously, Mike Smith; Tourist, Jose Lezcano; and Twentytwentyvision, Flavien Prat . . . Leandro Mora, assistant to Doug O’Neill, reports continued good news on Kentucky Derby winner Nyquist, currently at Pimlico following his third-place finish behind Exaggerator in last Saturday’s Preakness. “The last two days his white count has been normal, he’s eating, and his temperature is back to normal,” Mora said Sunday morning at Santa Anita. “If everything stays as it is, he’ll be here on June 5.” . . . With three wins Saturday, Flavien Prat moved into first place in the jockeys’ race with 16, one in front of Tyler Baze, Rafael Bejarano and Edwin Maldonado, who have 15 . . . Unusual Heat, the indefatigable 26-year-old stallion that stands at Harris Ranch in Coalinga for $20,000, sired three winners on yesterday’s Gold Rush Day card for California-bred or sired horses at Santa Anita: How Unusual (3.60) in the third race; Infinite Loop ($7.80) in the seventh; and Packin Heat ($30.40) in the ninth, the latter cementing a Pick 6 carryover into Sunday of $103,276.50. For good measure, Unusual Heat also sired three horses that finished third . . . Hall of Fame jockey Alex Solis reflecting on icons Charles Whittingham and Bill Shoemaker, each with a stakes race named in their memory at Santa Anita: “They were two great people, two great horsemen and I’m very lucky to have ridden with Shoemaker and ridden for Mr. Whittingham. It was a great learning experience and I enjoyed many great times with each of them.” Solis pilots Blingo for trainer John Shirreffs in today’s Whittingham Stakes. “He’s a nice horse and he’s training very well,” Solis said. “He’s very happy right now. I think he’s coming up to this race in good form.” . . . Congratulations to jockey Brice Blanc on winning his first race of the meet Saturday aboard Bert’s Melody for trainer Sean McCarthy in the Fran’s Valentine Stakes. “It’s been a little rough,” said the affable Frenchman. “I’ve gotten beat a couple of noses, so it was nice to win, especially for John Barr (Oakcrest Stable) and Sean.” . . . Kona Gold winner Wild Dude worked four furlongs Sunday for Jerry Hollendorfer in 49.20 with Bejarano up . . . Maiden Trojan Nation, runner-up by a head in the Wood Memorial and 16th at 42-1 in the Kentucky Derby, worked five furlongs Sunday in 1:00.20, after which trainer Paddy Gallagher said he was “still thinking” about the son of Street Cry‘s next race . . . Trainer Hector Palma feted Victor Espinoza and Fernando Perez on the occasion of their birthdays Sunday morning at Clockers’ Corner, balloons and all. Espinoza turned 44 on May 23, while Perez was 30 on May 25 . . . Agent Vic Lipton is representing seven-pound apprentice rider Jose Barnes . . . Horseplayer Dylan Donnelly will be Tom Quigley‘s guest Monday, 12:50 p.m., in the East Paddock Gardens . . . Santa Anita races through this Monday, Memorial Day, which is Dollar Day when fans can enjoy draft beers, hot dogs and sodas for just a buck. First post time Memorial Day is 2 p.m. Admission gates open at 11:30 a.m. Santa Anita’s festive Infield Carnival continues through Monday from 12 noon until 7:30 p.m. The entire family can share Carnival rides, games and prizes in addition to exciting Thoroughbred racing . . . Golden Gate’s ‘Golden 6,’ alive and growing for 51 straight days, stands at a whopping $1,065,284 going into Sunday . . . Friday’s single winning Pick 6 at Santa Anita that paid $167,245 was purchased through BetAmerica for $1,280. SONGBIRD TAKES A MINUTE FOR SUNDAY BREEZEOn an overcast Sunday morning, Songbird, racing’s perfect filly, worked five furlongs on Santa Anita’s fast main track shortly after daybreak in a minute flat with exercise rider Edgar Rodriguez aboard.While published reports have mentioned the Grade II, $200,000 Summertime Oaks on June 18 as Songbird’s comeback race, trainer Jerry Hollendorfer indicated that was not written in stone, leaving the door open for other options.“I don’t have an agenda for her,” Hollendorfer said. “We’re taking it one work at a time. It wasn’t me who said we were going to run there. They said, ‘Was it possible?’ It is possible, but I didn’t pick that race.”Songbird, champion two-year-old filly of 2015 and easy winner of all seven of her races including the Grade I Santa Anita Oaks last April 9, has not raced since then. The daughter of Medaglia d’Oro is owned by Rick Porter’s Fox Hill Farms.Santa Anita clocker Dane Nelson had fractional times for Songbird of 24 flat and 48.20, with a six furlong gallop out of 1:13.20.“She galloped out good,” Hollendorfer said. Patrick Gallagher1340031%31%$112,120 Martin Pedroza3964615%41%$214,970 (Current Through Saturday, May 28) Jerry Hollendorfer3763816%46%$499,280 CONDITIONS MORE SUITABLE FOR FANTICOLA IN GAMELY            A better post position and a softer pace scenario could benefit Fanticola in Monday’s Memorial Day feature, the Grade I, $300,000 Gamely Stakes for fillies and mares, three and up, at 1 1/8 miles on turf.Fanticola, a six-year-old mare conditoned by training leader Phil D’Amato, broke from the extreme outside 14 post last out in the Royal Heroine at a mile on grass, compromising her chances of making the lead from the start under regular rider Joe Talamo.“There was nothing Joe could do,” D’Amato said. “He rode as good a race as he could being hung that wide, but he should be able to save a little bit more ground this time, and it’s her third race off the bench, so all systems are go.”Despite her unfavorable post in the Royal Heroine, Fanticola held the lead into the stretch but was passed late, winding up third, beaten less than two lengths.The Canadian-bred daughter of Silent Name has a 5-5-8 record from 21 starts with earnings of $537,300 for owners Anthony Fanticola and Joseph Scardino.The lineup for the Gamely, race eight of 10: Nancy From Nairobi, Abel Lozano, 5-2; Evo Campo, Rafael Bejarano, 15-1; Dressed to a T, Mario Gutierrez, 30-1; Fanticola, Joe Talamo, 6-1; Elektrum, Victor Espinoza, 6-1; Wekeela, Javier Castellano, 9-5; Keri Belle, Mike Smith, 15-1; Illuminant, Flavien Prat, 5-1; and Nashoba’s Gold, Tyler Baze, 15-1. Mark Glatt2754519%52%$174,846 Tyler Baze7915151619%58%$757,300 Joseph Talamo5510121218%62%$594,323 Richard Baltas2636312%46%$164,588 Ignacio Puglisi1441229%50%$113,518last_img read more

JGA to spend less on flights, more on development

first_img NON-NATIONAL EVENTS As of next year, some members of Jamaica’s contingent to the Caribbean Classic Champion-ships event will have to contribute to the cost of their travel as the Jamaica Golf Association (JGA) looks to refocus its funds on the development of the sport. Earlier this month, the JGA sent out an email to its members advising them that the cost of sending teams to the various events around the region was placing a “tremendous strain” on the association. “Of all the revenues collected, over 90 per cent is spent on sending teams to compete in various championships. This leaves little, or nothing, for development of the sport, which is a major priority. “The executive has made a decision that members of the teams selected to participate in the Caribbean Classic Championships will have to contribute to the cost of playing in these championships,” the email said. JGA Honorary Secretary Fred Sutherland told The Gleaner that the men who compete in the Hoerman Cup and women who qualify for the ladies team will not have to pay their own way. This amounts to approximately six men and four women. He said the email was directed to participants who may wish to travel for non-national team events such as seniors and super senior categories. “The people who represent their country in the Hoerman Cup, there wasn’t a question of them funding themselves in the national teams,” he said. In the past, the JGA covered the expenses for all or most of the travelling team members. “The JGA pays, but people in those categories – seniors and super seniors – may be requested to part-fund themselves. When you add all the other groups, it is quite a large group,” he added. “The association stands ready to assist with any fundraising activity undertaken by participants,” Sutherland also noted.last_img read more

Motorcyclists in Paynesville Equipped to Help Protect Themselves against Ebola

first_imgOn October 31, 2014, The Paynesville City Corporation in collaboration with Liberians Against Ebola, Inc. (LAE, Inc.) donated over five hundred (500) protective jackets (ponchos) and over one hundred (100) spray bottles filled with chlorine to motorcyclists (pem-pem drivers) within the City of Paynesville.It is reported that within the City of Paynesville pem-pem drivers, despite the lack of proper protective gear and disinfectant, risked their lives over recent months by transporting sick passengers to the Ebola Treatment Unit at ELWA Hospital. The donation of supplies, coupled with Ebola sensitization and training through the Paynesville City Corporation (PCC) Environmental Health Department, will help protect over 500 Motor-Cyclists from ELWA Junction (AB Tolbert Road), LBS Junction (Lover Street), GSA Junction, Duport Road Junction, Kpelleh Town, and Police Academy Road. The cyclists learned, among other things, about the proper concentration of chlorine and water for the spray bottles and they were encouraged to spray the hands of all passengers before allowing them to be transported on their bike.In a statement, the Mayor of Paynesville, Hon. C. Cyvette M. Gibson noted, “The pem-pem boys are very vulnerable; they lack the proper protective gear and unlike the taxi drivers, they have to make physical contact with their passengers.”  Mayor Gibson reported that H.E. President Ellen Johnson–Sirleaf recently stressed the need to protect the pem-pem boys from the Ebola Virus Disease while they provide services in the country and make their daily income. In response to the request to help these “lone riders,” LAE, Inc. gathered and shipped the needed supplies. This was accomplished with the support of individual donors, volunteers and entities, such as K2M Inc.Since being established in August 2014, LAE Inc. has worked diligently and urgently to raise awareness globally about the Ebola Virus Disease (EVD) as well as raise funds to purchase, transport and distribute medical and food supplies to medical facilities and communities in the City of Paynesville.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Netflix Letter to Shareholders Shows It Couldn’t Care Less About DVDs

first_imgRelated Posts Top Reasons to Go With Managed WordPress Hosting Tags:#news#NYT#Video Services#web A Web Developer’s New Best Friend is the AI Wai… 8 Best WordPress Hosting Solutions on the Marketcenter_img mike melanson Why Tech Companies Need Simpler Terms of Servic… Streaming video and DVD subscription service Netflix announced its first quarter earnings for 2011 today. In its letter to shareholders (.pdf), the company showed off its continued growth, with 3.6 million new subscribers worldwide and $719 million in revenue, but the real story might be the company’s continued march away from its once-bread-and-butter offering – the humble DVD.The company barely pays lip service to DVD subscriptions, and spends the majority of the letter discussing plans for first-run TV series and movies, expanded network offerings and competition within the streaming video space.In 16 pages, the word “DVD” is mentioned only a dozen times, with just over 100 words devoted to the topic in a section titled “DVD was a Booster Rocket, but is not a Differentiator”:We believe that DVD will be a fading differentiator given the explosive growth of streaming, and that in order to prosper in streaming we must concentrate on having the best possible streaming service.  As a result, we are beginning to treat them separately in many ways.  Already, if you look at our signup page for non-members, it is all about streaming.  Having said this, DVD rental is still a great business for us, and we are working on solutions to make sure DVD continues to be a profitable business for us in the years ahead, but it is not core to winning in streaming at this point.  In the handful of other mentions, we find the word “DVD” next to words like “flattening” and “decline”. The writing has been on the wall for months now and here it is again. So what does Netflix have in store, then, for its multiplying streaming customers?A “wider and better selection of TV shows and movies then ever before. Netflix points to a partnership with CBS, which it says makes it the “only online premium subscription service that offers shows from all four broadcast networks, as well as many of the largest cable TV networks.”Increased content with: Sons of Anarchy, Glee, Mad Men, Weeds, Blue Mountain State.Look out for more first-run, serialized content like “House of Cards”. The company says “Serialized dramas, like the original BBC series on which “House of Cards” is based, have been big favorites on Netflix and we want to confirm our theory that because we are click-and-watch rather than appointment viewing, we can efficiently build a big audience for a well-produced serialized show.” If this one is a success, the company says it is like to “license two or three similar, but smaller, deals.”The biggest competition is coming from Hulu Plus and Amazon Prime, with Dish Networks “likely to launch a substantial subscription streaming effort under the Blockbuster brand,” in case you’re looking for an alternative.The word “stream” shows up 26 times in the letter, while “DVD” shows up only 12 times. Just saying.last_img read more

10 months agoArsenal boss Emery at loggerheads with directors over midfield transfer plans

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Arsenal boss Emery at loggerheads with directors over midfield transfer plansby Paul Vegas10 months agoSend to a friendShare the loveArsenal boss Unai Emery is at loggerheads with directors over transfer targets this month.The Mirror says Emery’s plans to sign Sevilla attacker Ever Banega are over, with Barcelona midfielder Denis Suarez now the target.Emery has worked with Banega at both Valencia and Sevilla, and rates the tenacious midfielder very highly.He therefore identified him as a man who could boost his Gunners side, and was looking for the board to stump up some cash to land him.But Arsenal chiefs weren’t convinced, and weren’t overly keen on Emery spending some considerable cash on a 30-year-old.The board believe the money can be invested better elsewhere, and Suarez – who is 25, available for his £20million release clause and has also played under Emery in the past – became Arsenal’s new number one target. last_img read more