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Netflix will spend a whopping $17B on content over the next few years, including between $7 and $8 billion just in 2018. It already outspends rivals like HBO, FX, and CBS; 25% of the company’s content budget goes to original programming.
Nordstrom has paused its exploration of going private until after the holiday season. Reports had emerged that talks for taking the retailer private were in danger of falling apart, amid concerns it couldn’t secure necessary financing.
Kobe Steel Scandal
Japan’s Kobe Steel may have falsified data for more than a decade. The company knowingly sold metal products that had failed quality control tests to as many as 500 corporate customers, including GM, Ford, Toyota, and Boeing. So far, no affected customers have issued recalls or announced any safety concerns.
“People will start seeing the potential for this big movie initiative.”
Ted Sarandos, Netflix content chief, on plans for 80 films next year
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Animation: Lucy Clinch
Script: Katie Carroll, Lorraine K. Lee
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