Netflix releases subscriber stats; Hulu buys back AT&T stake; Flowspace finds $12 million.
Streaming service Hulu recently bought back a 10% stake in the firm previously owned by AT&T, Variety reports. The deal valued Hulu at $15 billion and was closed April 15. Santa Monica-headquartered Hulu is owned by Walt Disney Co., which obtained a 60% stake in the firm after acquiring the assets of 21st Century Fox Corp. for $71 billion in March.
Netflix Inc. added 7.9 million paid subscribers internationally this quarter, surpassing predictions of 7.1 million. According to Reuters, 1.7 million of those paid subscribers were in the United States. The company forecasts it will add 5 million subscribers globally in the second quarter this year, compared with 5.5 million added this same time last year. Operating in Hollywood, Netflix shelled out $7.5 billion on content in 2018 and expects that figure to grow as it faces competition from new streaming platforms from Apple Inc. and AT&T Inc.-owned Warner Media.
Culver City-based warehouse technology developer Flowspace Inc. raised a $12 million Series A funding round, the Business Journal reports. The funds will be used for new hires and to develop Flowspace’s technology, which connects businesses with available warehouse space to fulfillment services. The company is 2 years old and recently relocated to Culver City from Orange County.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
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