Technology
Netflix Reels in 4.3M More Subscribers in 4Q; Stock Surges
MICHAEL LIEDTKE, AP Technology Writer
SAN FRANCISCO (AP) — Coming off its best quarter yet, Netflix is accelerating its international expansion in hopes its original programming will hook millions more subscribers on the Internet video service.
Netflix Inc. added 13 million worldwide subscribers last year, including 4.3 million during the final three months, according to figures released Tuesday in the company’s fourth-quarter earnings report. It marked Netflix’s biggest quarter of subscriber gains ever, eclipsing the 4.07 million added in the final three months of 2013.
Earnings also rose to a new quarterly high of $83.4 million, or $1.35 per share, a 72 percent increase from the same time last year. The latest quarter included a one-time gain of $39 million from the resolution of a tax audit.
The performance drew rave reviews from investors as Netflix’s stock surged $55.35, or nearly 16 percent, to $404.15 in extended trading. The shares still remain well below their record high of $489.29 reached four months ago.
Encouraged by the popularity of Netflix’s original programs in overseas markets, CEO Reed Hastings now expects to complete the company’s international expansion by 2017 while remaining profitable. The Los Gatos, California, company plans to borrow $1 billion to help finance its push outside the U.S., including a potential entrance into China.
“It’s going to be a very exciting couple years,” Hastings promised in a Tuesday interview.
Netflix also is pouring more money into original programming in an effort to maintain its leadership in long-form Internet video amid intensifying competition from imposing rivals such as Google Inc.’s YouTube, Amazon.com and Time Warner Inc.’s HBO.
The on-demand convenience of online video streaming has become so popular that HBO, a 42-year-old cable channel, will start selling a separate Internet-only subscription later this year to connect with the steadily expanding audience spurning traditional pay-TV packages. Meanwhile, YouTube has been amassing more professionally produced content to supplement its wide array of amateur videos, while Amazon.com plans to finance about a dozen full-length films for its $99-a-year Prime service, which also includes free shipping and music streaming for its e-commerce customers.
Netflix’s emphasis on more distinctive shows, launched two years ago with the debut of the award-winning series “House of Cards,” has reeled in more viewers while trimming profits because of higher licensing costs. To help pay the bills, Netflix raised its prices last May by $1 a month, to $9, in a move that the company initially blamed for disappointing subscriber growth last summer.
Hastings now believes last summer’s lackluster growth had more to do with narrowing opportunities to expand in the U.S. now that Netflix already is in so many domestic households.
The service ended December with 39.1 million subscribers in the U.S., accounting for more than two-thirds of Netflix’s customers spread across about 50 countries. Hastings believes Netflix eventually can attract as many as 90 million U.S. subscribers, though it will take nearly a decade to reach the goal, based on the company’s current rate of domestic growth.
Netflix is anticipating an additional 4 million global subscribers during the first three months of this year, boosted by the Feb. 27 return of “House of Cards.” The period also will feature the March 6 debut of “The Unbreakable Kimmy Schmidt,” a new series produced by comedian and writer Tina Fey, as well as new drama called “Bloodline,” to be released March 20.
More than 20 other Netflix originals encompassing 320 total hours are scheduled to be released this year, including the third season of another acclaimed TV series, “Orange Is The New Black” and a movie sequel to “Crouching Tiger, Hidden Tiger.”
Netflix is about to begin streaming “The Interview,” a comedy that wasn’t released in major theater chains last month because of terrorism threats. The Sony Pictures film starring Seth Rogen and James Franco will be available on Netflix in the U.S. and Canada beginning Saturday.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Community
Advanced Conductors Provide Path for Grid Expansion
Utility companies in the United States could double electric transmission capacity by 2035 by replacing existing transmission lines with those made from advanced materials, according to a new study published Monday in the Proceedings of the National Academy of Sciences.
By Matthew Burciaga
UC Berkeley News
Utility companies in the United States could double electric transmission capacity by 2035 by replacing existing transmission lines with those made from advanced materials, according to a new study published Monday in the Proceedings of the National Academy of Sciences.
Led by Duncan Callaway, professor and chair of the Energy and Resources Group (ERG), and Amol Phadke, an affiliate and senior scientist at the Goldman School of Public Policy, the first-of-its-kind study details a faster and more cost-effective way to expand the grid and connect the more than 1,200 gigawatts of renewable energy projects awaiting approval. The analysis was first published last December as a working paper by the Energy Institute at Haas and has been covered by the New York Times, the Washington Post, Heatmap News, and other news outlets.
“Expanding transmission capacity is critical to decarbonization, and we sought to study ways to build it faster and cheaper,” said Callaway.
It currently takes 10 to 15 years to build a new power line and the U.S. is building transmission lines at a lower rate than it was in the past decade. Without sufficient capacity, renewable energy projects often sit in limbo for years as transmission operators study what upgrades—if any—are needed to accommodate the increased loads.
The authors modeled various scenarios to determine if replacing existing transmission conductors with those made with advanced composite-core materials—a process known as reconductoring—could provide a pathway to faster grid expansion.
Several reconductoring projects have been initiated in Belgium and the Netherlands, and utility companies in the U.S. have used the material to string transmission lines across wide spans like river crossings. That technology, however, has not made its way to the majority of overhead power lines that feed residential and commercial customers.
“As we learned more about the technology, we realized that no one had done the detailed modeling needed to understand the technology’s potential for large-scale transmission capacity increases,” said Phadke.
Based on the authors’ projections, it is cheaper—and quicker—for utility companies to replace the 53,000 existing transmission lines with advanced composite-core materials than it is to build entirely new transmission lines.
They assert that doing so would reduce wholesale electricity costs by 3% to 4% on average—translating to $85 billion in system cost savings by 2035 and $180 billion by 2050.
“The level of interest we’ve received from federal and state agencies, transmission companies and utilities is extremely encouraging, and since our initial report, the Department of Energy has committed hundreds of millions of dollars to reconductoring projects,” said co-author Emilia Chojkiewicz, a PhD student in ERG and an affiliate of the Goldman School of Public Policy. “We are looking forward to learning about these projects as they unfold.”
Additional co-authors include Nikit Abhyankar and Umed Paliwal, affiliates at the Goldman School of Public Policy; and Casey Baker and Ric O’Connell of GridLab, a nonprofit that provides comprehensive technical grid expertise to policy makers and advocates.
Black History
A Life of Inventions: Engineer and Physicist George Alcorn
George Edward Alcorn Jr. was born on March 22, 1940, in Indianapolis. Growing up in a family that valued education, Alcorn developed an early love for science and mathematics. He excelled in school, and attended Occidental College in California, where he earned a bachelor’s degree in physics in 1962. He received a master’s degree in nuclear physics in 1963 and a Ph.D. in atomic and molecular physics in 1967 at Howard University.
By Tamara Shiloh
George Edward Alcorn Jr. was born on March 22, 1940, in Indianapolis.
Growing up in a family that valued education, Alcorn developed an early love for science and mathematics. He excelled in school, and attended Occidental College in California, where he earned a bachelor’s degree in physics in 1962. He received a master’s degree in nuclear physics in 1963 and a Ph.D. in atomic and molecular physics in 1967 at Howard University.
Alcorn began his career in developing scientific technology in private industries, starting a career as a physicist for IBM. His career took off when he joined several prestigious companies and research institutions, such as the Aerospace Corporation, where he developed important technologies for spacecraft. In 1978, he accepted a position at NASA’s Goddard Space Flight Center, where he worked for the remainder of his career. There, he developed technologies for space stations and private institutions across the nation, becoming a key figure in the field of physics and space exploration.
Alcorn is well known for his groundbreaking work on X-ray spectrometers. An X-ray spectrometer is a device used to identify different elements in materials by analyzing the X-ray wavelengths they emit. His improvements allowed the instrument to detect X-rays with greater accuracy and efficiency. This invention has been critical for NASA’s space missions, aiding in the analysis of planetary atmospheres and surfaces, including Mars and other planets in our solar system.
He also contributed to the development of plasma etching, a process used in manufacturing microchips for computers and electronics. His work in this area advanced semiconductor technology, which powers everything from smartphones to satellites.
Another accomplishment was the development of new technologies used in the Freedom space station in partnership with space agencies in Japan, Canada and Europe, though their projects never made it to space.
Throughout his career, Alcorn received several awards and honors, including NASA’s Inventor of the Year Award in 1984. In 2010, he received the highest honor from NASA’s Goddard Space Flight Center. In 2015, Alcorn was inducted into the National Inventors Hall of Fame for his invention of the imaging X-ray spectrometer.
In addition to his work in the lab, Alcorn dedicated much of his time to teaching and mentoring young scientists. As one of the few African American scientists working in advanced fields like physics and space exploration, he has been an inspiration to young people, especially those from underrepresented groups in STEM (science, technology, engineering, and mathematics). He taught at Howard University and worked to encourage more African Americans to pursue careers in science and engineering.
George is quoted as stating, “The big thing about being in science and engineering is that if you have a good, interesting project going, work is not coming to work, it’s coming to an adventure.”
George Edward Alcorn passed away June 19, 2024.
Antonio Ray Harvey
Gov. Newsom Touts California Economic Success
In a 20-minute interview on Oct. 10, Gov. Gavin Newsom said California’s economy is in great shape due to achievements in certain areas. The Governor was speaking at the 2024 California Economic Summit event hosted by California Forward in Sacramento. It was attended by more than 100 leaders from industry, community, and the private, public, and nonprofit sectors.
By Antonio Ray Harvey
In a 20-minute interview on Oct. 10, Gov. Gavin Newsom said California’s economy is in great shape due to achievements in certain areas.
The Governor was speaking at the 2024 California Economic Summit event hosted by California Forward in Sacramento. It was attended by more than 100 leaders from industry, community, and the private, public, and nonprofit sectors.
“It is an exciting and dynamic time,” said Newsom. “Thirty-two of the top 50 AI companies are all here in California. We dominate in tourism – record breaking tourism last year.”
“It isn’t by accident that California is an economic powerhouse,” Newsom continued. “Whether it be around education, infrastructure, or immigration, we’re following a formula for success.”
In Newsom’s overview of the state’s economy, he didn’t include why two companies decided to leave for the state of Texas. SpaceX and Chevron announced their departures over the summer.
Billionaire Elon Musk is moving the headquarters of his companies X and SpaceX from San Francisco to Texas. After 140 years of doing business in California, Chevron is heading to the southwestern state as well.
Chevron employs 2,000 workers in San Ramon. It operates crude oil fields, technical facilities, two refineries, and services more than 1,800 retail stations in California.
“There will be minimal immediate relocation impacts to other employees currently based in San Ramon. The company expects all corporate functions to migrate to Houston over the next five years. Positions in support of the company’s California operations will remain in San Ramon,” Chevron shared in an Aug. 2 press release.
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