Misplaced Pages

#607392

130-554: It was founded by former hedge fund manager and prison abolitionist Neil Barsky with former New York Times executive editor Bill Keller as its first editor-in-chief. It has won the Pulitzer Prize twice. The organization's name honors Thurgood Marshall , the NAACP 's civil rights activist and attorney whose arguments won the landmark U.S. Supreme Court school desegregation case, Brown vs. Board of Education , who later became

260-496: A CA$ 500 million (US$ 400 million) investment over the next five years in producing content in Canada. The company denied that the deal was intended to result in a tax break . Netflix realized this goal by December 2018. In October 2017, Netflix iterated a goal of having half of its library consist of original content by 2019, announcing a plan to invest $ 8 billion on original content in 2018. In October 2017, Netflix introduced

390-428: A Defenders miniseries that would tie them together. Daredevil and Jessica Jones premiered in 2015. The Luke Cage series premiered on September 30, 2016, followed by Iron Fist on March 17, 2017, and The Defenders on August 18, 2017. Marvel owner Disney later entered into other content agreements with Netflix, including acquiring its animated Star Wars series Star Wars: The Clone Wars , and

520-520: A Pulitzer Prize and other journalism awards, with reporting focused on various issues, including prison abuse and rape, privatized prisons , and the treatment of incarcerated youth and mentally ill people. Keller retired in 2019 and was succeeded as editor-in-chief by Susan Chira . On February 29, 2024, The Marshall Project newsroom staff announced publicly that it was unionizing under the NewsGuild of New York. As of August 2021, The Marshall Project had

650-414: A bull market , distressed investing works best during a bear market . Risk arbitrage or merger arbitrage includes such events as mergers , acquisitions, liquidations, and hostile takeovers . Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from

780-439: A counterparty to derivative contracts , and lends securities for particular investment strategies, such as long/short equities and convertible bond arbitrage . It can provide custodial services for the fund's assets, and trade execution and clearing services for the hedge fund manager. Hedge fund administrators are typically responsible for valuation services, and often operations , and accounting . Calculation of

910-1000: A lack of transparency . Another common perception of hedge funds is that their managers are not subject to as much regulatory oversight and/or registration requirements as other financial investment managers, and more prone to manager-specific idiosyncratic risks such as style drifts, faulty operations, or fraud. New regulations introduced in the US and the EU as of 2010 required hedge fund managers to report more information, leading to greater transparency. In addition, investors, particularly institutional investors, are encouraging further developments in hedge fund risk management, both through internal practices and external regulatory requirements. The increasing influence of institutional investors has led to greater transparency: hedge funds increasingly provide information to investors including valuation methodology, positions, and leverage exposure. Hedge funds share many of

1040-535: A music publishing deal with BMG Rights Management , whereby BMG will oversee rights outside of the United States for music associated with Netflix original content. Netflix continues to handle these tasks in-house in the United States. On April 25, 2017, Netflix signed a licensing deal with IQIYI , a Chinese video streaming platform owned by Baidu , to allow selected Netflix original content to be distributed in China on

1170-503: A "Netflix Player" that would allow streaming content to be played directly on a television rather than a desktop or laptop. Hastings eventually shut down the project to help encourage other hardware manufacturers to include built-in Netflix support, which would be spun off as the digital media player product Roku . In January 2008, all rental-disc subscribers became entitled to unlimited streaming at no additional cost. This change came in

1300-535: A "fundamental growth" strategy invest in companies with more earnings growth than the overall stock market or relevant sector, while funds using a " fundamental value " strategy invest in undervalued companies. Funds that use quantitative and financial signal processing techniques for equity trading are described as using a "quantitative directional" strategy. Funds using a " short bias " strategy take advantage of declining equity prices using short positions. Event-driven strategies concern situations in which

1430-440: A CTA from a regulatory perspective and the main divide is between systematic and discretionary strategies. A classification framework for CTA/Macro Strategies can be found in the reference. Directional investment strategies use market movements, trends, or inconsistencies when picking stocks across a variety of markets. Computer models can be used, or fund managers will identify and select investments. These types of strategies have

SECTION 10

#1732858095608

1560-413: A DVD rental service, which not only allowed users to check out titles through online sites but allowed for them to return them at brick and-mortar stores. By 2006, Blockbuster's service reached two million users, and while trailing Netflix's subscriber count, was drawing business away from Netflix. Netflix lowered fees in 2007. While it was an urban legend that Netflix ultimately "killed" Blockbuster in

1690-805: A Netflix original series, receiving much critical acclaim. On January 22, 2019, Netflix sought and was approved for membership into the Motion Picture Association of America (MPAA), making it the first streaming service to join the association. In February 2019, The Haunting creator Mike Flanagan joined frequent collaborator Trevor Macy as a partner in Intrepid Pictures and the duo signed an exclusive overall deal with Netflix to produce television content. On May 9, 2019, Netflix contracted with Dark Horse Entertainment to make television series and films based on comics from Dark Horse Comics . In July 2019, Netflix announced that it would be opening

1820-474: A Peabody Award for "Anatomy of Doubt". In 2018, The Marshall Project was awarded a national Edward R. Murrow Award for "Overall Excellence" for a small digital newsroom. It also won the award for General Excellence in Online Journalism from Online News Association . Its 2017 documentary series "We Are Witnesses" was nominated for the 39th Annual News & Documentary Emmy Award . Its 2019 installment of

1950-560: A computer scientist and mathematician, was a co-founder of Pure Software , which was acquired by Rational Software that year for $ 750 million, the then biggest acquisition in Silicon Valley history. Randolph had worked as a marketing director for Pure Software after Pure Atria acquired a company where Randolph worked. He was previously a co-founder of MicroWarehouse , a computer mail-order company, as well as vice president of marketing for Borland . Hastings and Randolph came up with

2080-431: A computerized system, known as "systematic/quantitative". The amount of diversification within the fund can vary; funds may be multi-strategy, multi-fund, multi-market, multi-manager, or a combination. Sometimes hedge fund strategies are described as " absolute return " and are classified as either " market neutral " or "directional". Market neutral funds have less correlation to overall market performance by "neutralizing"

2210-754: A concession stand. In January 2020, Netflix announced a new four-film deal with Adam Sandler worth up to $ 275 million. On February 25, 2020, Netflix formed partnerships with six Japanese creators to produce an original Japanese anime project. This partnership includes manga creator group CLAMP, mangaka Shin Kibayashi , mangaka Yasuo Ohtagaki, novelist and film director Otsuichi , novelist Tow Ubutaka, and manga creator Mari Yamazaki . On March 4, 2020, ViacomCBS announced that it will be producing two spin-off films based on SpongeBob SquarePants for Netflix. On April 7, 2020, Peter Chernin 's Chernin Entertainment made

2340-411: A copy of Apollo 13 . Hastings invested $ 2.5 million into Netflix from the sale of Pure Atria. Netflix launched as the first DVD rental and sales website with 30 employees and 925 titles available—nearly all DVDs published. Randolph and Hastings met with Jeff Bezos , where Amazon offered to acquire Netflix for between $ 14 and $ 16 million. Fearing competition from Amazon, Randolph at first thought

2470-1950: A deal with Open Road Films . On August 23, 2012, Netflix and The Weinstein Company signed a multi-year output deal for RADiUS-TWC films. In September 2012, Epix signed a five-year streaming deal with Netflix. For the initial two years of this agreement, first-run and back-catalog content from Epix was exclusive to Netflix. Epix films came to Netflix 90 days after premiering on Epix. These included films from Paramount, Metro-Goldwyn-Mayer and Lionsgate. On October 18, 2012, Netflix launched in Denmark , Finland , Norway and Sweden . On December 4, 2012, Netflix and Disney announced an exclusive multi-year agreement for first-run United States subscription television rights to Walt Disney Studios ' animated and live-action films, with classics such as Dumbo , Alice in Wonderland and Pocahontas available immediately and others available on Netflix beginning in 2016. Direct-to-video releases were made available in 2013. On January 14, 2013, Netflix signed an agreement with Time Warner 's Turner Broadcasting System and Warner Bros. Television to distribute Cartoon Network , Warner Bros. Animation , and Adult Swim content, as well as TNT 's Dallas , beginning in March 2013. The rights to these programs were given to Netflix shortly after deals with Viacom to stream Nickelodeon and Nick Jr. Channel programs expired. For cost reasons, Netflix stated that it would limit its expansion in 2013, adding only one new market—the Netherlands—in September of that year. This expanded its availability to 40 territories. In 2011, Netflix began its efforts into original content development. In March, it made

2600-521: A fund has too much exposure to a particular investment, sector, trading strategy, or group of correlated funds. These risks may be managed through defined controls over conflict of interest , restrictions on allocation of funds, and set exposure limits for strategies. Many investment funds use leverage , the practice of borrowing money, trading on margin , or using derivatives to obtain market exposure in excess of that provided by investors' capital. Although leverage can increase potential returns,

2730-446: A fund manager "drifting" away from an area of specific expertise, manager risk factors include valuation risk , capacity risk, concentration risk , and leverage risk . Valuation risk refers to the concern that the net asset value (NAV) of investments may be inaccurate; capacity risk can arise from placing too much money into one particular strategy, which may lead to fund performance deterioration; and concentration risk may arise if

SECTION 20

#1732858095608

2860-466: A good year. Earnings at the very top are higher than in any other sector of the financial industry, and collectively the top 25 hedge fund managers regularly earn more than all 500 of the chief executives in the S&;P 500 . Most hedge fund managers are remunerated much less, however, and if performance fees are not earned then small managers at least are unlikely to be paid significant amounts. In 2011,

2990-403: A greater appetite for risk , with the intention of maximizing returns, subject to the risk tolerance of investors and the fund manager. Managers will have an additional incentive to increase risk oversight when their own capital is invested in the fund. Hedge fund management firms typically charge their funds both a management fee and a performance fee . Management fees are calculated as

3120-604: A greater exposure to the fluctuations of the overall market than do market neutral strategies. Directional hedge fund strategies include US and international long/short equity hedge funds, where long equity positions are hedged with short sales of equities or equity index options . Within directional strategies, there are a number of sub-strategies. " Emerging markets " funds focus on emerging markets such as China and India, whereas "sector funds" specialize in specific areas including technology, healthcare, biotechnology, pharmaceuticals, energy, and basic materials. Funds using

3250-412: A hub at Shepperton Studios as part of a deal with Pinewood Group . In early-August 2019, Netflix negotiated an exclusive multi-year film and television deal with Game of Thrones creators and showrunners David Benioff and D.B. Weiss . The first Netflix production created by Benioff and Weiss was planned as an adaptation of Liu Cixin 's science fiction novel The Three-Body Problem , part of

3380-439: A large amount of flexibility (due to their ability to use leverage to take large positions in diverse investments in multiple markets), the timing of the implementation of the strategies is important in order to generate attractive, risk-adjusted returns. Global macro is often categorized as a directional investment strategy. Global macro strategies can be divided into discretionary and systematic approaches. Discretionary trading

3510-445: A management fee of 2% on total assets and a 20% fee on realized gains. In the 1970s, hedge funds specialized in a single strategy with most fund managers following the long/short equity model. Many hedge funds closed during the recession of 1969–1970 and the 1973–1974 stock market crash due to heavy losses. They received renewed attention in the late 1980s. During the 1990s, the number of hedge funds increased significantly with

3640-400: A manager is only rewarded if the fund generates returns in excess of the returns that the investor would have received if they had invested their money elsewhere. Some hedge funds charge a redemption fee (or withdrawal fee) for early withdrawals during a specified period of time (typically a year), or when withdrawals exceed a predetermined percentage of the original investment. The purpose of

3770-422: A manager will sometimes close a fund that has suffered serious losses and start a new fund, rather than attempt to recover the losses over a number of years without a performance fee. Some performance fees include a " hurdle ", so that a fee is only paid on the fund's performance in excess of a benchmark rate ( e.g. , LIBOR ) or a fixed percentage. The hurdle is usually tied to a benchmark rate such as Libor or

3900-657: A multi-year deal to create original projects for the service. In May 2014, Netflix & Sony Pictures Animation had a major multi-deal to acquired streaming rights to produce films. It also began to introduce an updated logo, with a flatter appearance and updated typography. In September 2014, Netflix expanded into six new European markets, including Austria , Belgium , France , Germany , Luxembourg , and Switzerland . On September 10, 2014, Netflix participated in Internet Slowdown Day by deliberately slowing down its speed in support of net neutrality regulations in

4030-484: A new and experimental non-profit journalism format. It has been compared with the non-profit ProPublica , the Center for Investigative Reporting , Inside Climate News , and The Texas Tribune , and also with recent for-profit journalistic experiments such as Vox and FiveThirtyEight . The Marshall Project has also been praised for its timely launch given current bipartisan interest in criminal justice reform in

The Marshall Project - Misplaced Pages Continue

4160-467: A new season of the previously cancelled Fox sitcom Arrested Development . Netflix acquired the U.S. rights to the Norwegian drama Lilyhammer after its television premiere on Norway's NRK1 on January 25, 2012. Notably departing from the traditional broadcast television model of weekly episode premieres, Netflix chose to release the entire first season on February 8 of the same year. House of Cards

4290-437: A new sixth season. In February 2014, Netflix began to enter into agreements with U.S. internet service providers, beginning with Comcast (whose customers had repeatedly complained of frequent buffering when streaming Netflix), in order to provide the service a direct connection to their networks. In April 2014, Netflix signed Arrested Development creator Mitchell Hurwitz and his production firm The Hurwitz Company to

4420-544: A number of years. Other than a fund's regulatory status, there are no formal or fixed definitions of fund types, and so there are different views of what can constitute a "hedge fund". Although hedge funds are not subject to the many restrictions applicable to regulated funds, regulations were passed in the United States and Europe following the financial crisis of 2007–2008 with the intention of increasing government oversight of hedge funds and eliminating certain regulatory gaps. While most modern hedge funds are able to employ

4550-400: A percentage of the fund's net asset value and typically range from 1% to 4% per annum, with 2% being standard. They are usually expressed as an annual percentage, but calculated and paid monthly or quarterly. Management fees for hedge funds are designed to cover the operating costs of the manager, whereas the performance fee provides the manager's profits. However, due to economies of scale

4680-665: A position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities. Corporate transactional events generally fit into three categories: distressed securities , risk arbitrage , and special situations . Distressed securities include such events as restructurings, recapitalizations , and bankruptcies . A distressed securities investment strategy involves investing in

4810-612: A response to the introduction of Hulu and to Apple 's new video-rental services. In August 2008, the Netflix database was corrupted and the company was not able to ship DVDs to customers for 3 days, leading the company to move all its data to the Amazon Web Services cloud. In November 2008, Netflix began offering subscribers rentals on Blu-ray and discontinued its sale of used DVDs. In 2009, Netflix streams overtook DVD shipments. On January 6, 2010, Netflix agreed with Warner Bros. to delay new release rentals to 28 days after

4940-740: A settlement with the American Council of the Blind , Netflix agreed to provide descriptions for its original series within 30 days of their premiere, and add screen reader support and the ability to browse content by availability of descriptions. In March 2015, Netflix expanded to Australia and New Zealand . In September 2015, Netflix launched in Japan , its first country in Asia. In October 2015, Netflix launched in Italy , Portugal , and Spain . In January 2016, at

5070-410: A single strategy or multiple strategies for flexibility, risk management , or diversification. The hedge fund's prospectus , also known as an offering memorandum , offers potential investors information about key aspects of the fund, including the fund's investment strategy, investment type, and leverage limit. The elements contributing to a hedge fund strategy include the hedge fund's approach to

5200-403: A staff of 48, with eight additional contributing writers, five of whom are currently incarcerated. The Marshall Project is funded by donations and grants from foundations and individuals. Joe Pompeo wrote of The Marshall Project that it had had a great start due to a mix of good initial publicity and association with high-profile names. The Marshall Project has also been identified as part of

5330-627: A state of maturity that is consolidating around the larger, more established firms such as Citadel, Elliot, Millennium, Bridgewater, and others. The rate of new fund start ups is now outpaced by fund closings. In July 2017, hedge funds recorded their eighth consecutive monthly gain in returns with assets under management rising to a record $ 3.1 trillion. Hedge fund strategies are generally classified among four major categories: global macro , directional, event-driven , and relative value ( arbitrage ). Strategies within these categories each entail characteristic risk and return profiles. A fund may employ

The Marshall Project - Misplaced Pages Continue

5460-530: A straight-to-series order from MRC for the political drama House of Cards , led by Kevin Spacey , outbidding U.S. cable networks. This marked the first instance of a first-run television series being specifically commissioned by the service. In November the same year, Netflix added two more significant productions to its roster: the comedy-drama Orange Is the New Black , adapted from Piper Kerman 's memoir , and

5590-401: A strategy based on predicting the final approval of new pharmaceutical drugs ; and legal catalyst strategy, which specializes in companies involved in major lawsuits. Relative value arbitrage strategies take advantage of relative discrepancies in price between securities. The price discrepancy can occur due to mispricing of securities compared to related securities, the underlying security or

5720-496: A substantial portion of the asset management industry, with assets totaling around $ 3.8 trillion as of 2021. The word "hedge", meaning a line of bushes around the perimeter of a field, has long been used as a metaphor for placing limits on risk. Early hedge funds sought to hedge specific investments against general market fluctuations by shorting other, similar assets. Nowadays, however, many different investment strategies are used, many of which do not "hedge" risk. During

5850-454: A weekly feature called "Life Inside," where people who work or live in the criminal justice system tell their stories in first-person essays. Until October 2018, Life Inside was co-published with VICE . The project officially launched in November 2014. Its first editor-in-chief was former New York Times executive editor Bill Keller . The outlet's reporting in its first five years garnered it

5980-424: A wide variety of financial instruments and risk management techniques, they can be very different from each other with respect to their strategies, risks, volatility and expected return profile. It is common for hedge fund investment strategies to aim to achieve a positive return on investment regardless of whether markets are rising or falling (" absolute return "). Hedge funds can be considered risky investments;

6110-659: Is a pooled investment fund that holds liquid assets and that makes use of complex trading and risk management techniques to improve investment performance and insulate returns from market risk . Among these portfolio techniques are short selling and the use of leverage and derivative instruments . In the United States, financial regulations require that hedge funds be marketed only to institutional investors and high-net-worth individuals . Hedge funds are considered alternative investments . Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to

6240-399: Is available internationally in multiple languages. Launched in 2007, nearly a decade after Netflix, Inc. began its pioneering DVD-by-mail movie rental service, Netflix is the most-subscribed video on demand streaming media service, with 282.7 million paid memberships in more than 190 countries as of 2024. By 2022, "Netflix Original" productions accounted for half of its library in

6370-602: Is carried out by investment managers who identify and select investments, whereas systematic trading is based on mathematical models and executed by software with limited human involvement beyond the programming and updating of the software. These strategies can also be divided into trend or counter-trend approaches depending on whether the fund attempts to profit from following market trend (long or short-term) or attempts to anticipate and profit from reversals in trends. Within global macro strategies, there are further sub-strategies including "systematic diversified", in which

6500-550: Is reduced but cannot be eliminated. According to a report by the Hennessee Group, hedge funds were approximately one-third less volatile than the S&P 500 between 1993 and 2010. Investors in hedge funds are, in most countries, required to be qualified investors who are assumed to be aware of the investment risks , and accept these risks because of the potential returns relative to those risks. Fund managers may employ extensive risk management strategies in order to protect

6630-523: Is the major case relating to fund administrator liability for failure to handle its NAV-related obligations properly. There, the hedge fund administrator and other defendants settled in 2016 by paying the Anwar investor plaintiffs $ 235 million. Netflix Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres, and it

SECTION 50

#1732858095608

6760-598: The Remembrance of Earth's Past trilogy. On September 30, 2019, in addition to renewing Stranger Things for a fourth season , Netflix signed The Duffer Brothers to an overall deal covering future film and television projects for the service. On November 13, 2019, Netflix and Nickelodeon entered into a multi-year agreement to produce several original animated feature films and television series based on Nickelodeon's library of characters. This agreement expanded on their existing relationship, in which new specials based on

6890-479: The 1990s stock market rise , the aligned-interest compensation structure ( i.e. , common financial interests), and the promise of above average returns as likely causes. Over the next decade, hedge fund strategies expanded to include credit arbitrage, distressed debt , fixed income , quantitative , and multi-strategy. US institutional investors , such as pension and endowment funds , began allocating greater portions of their portfolios to hedge funds. During

7020-503: The BBC , Sarandos said the company also looking to expand investments in non-traditional foreign markets due to the growth of viewers outside of North America. At the time, this included programs such as Dark from Germany, Ingobernable from Mexico and 3% from Brazil . On May 22, 2018, former president , Barack Obama , and his wife, Michelle Obama , signed a deal to produce docu-series, documentaries and features for Netflix under

7150-610: The Consumer Electronics Show , Netflix announced a major international expansion of its service into 130 additional countries. It then had become available worldwide except China , Syria , North Korea , Kosovo and Crimea . In May 2016, Netflix created a tool called Fast.com to determine the speed of an Internet connection. It received praise for being "simple" and "easy to use", and does not include online advertising , unlike competitors. On November 30, 2016, Netflix launched an offline playback feature, allowing users of

7280-635: The Harvey Weinstein sexual abuse cases . In November 2017, Netflix announced that it would be making its first original Colombian series, to be executive produced by Ciro Guerra . In December 2017, Netflix signed Stranger Things director-producer Shawn Levy and his production company 21 Laps Entertainment to what sources say is a four-year deal. In 2017, Netflix invested in distributing exclusive stand-up comedy specials from Dave Chappelle , Louis C.K. , Chris Rock , Jim Gaffigan , Bill Burr and Jerry Seinfeld . In February 2018, Netflix acquired

7410-465: The Netflix Prize , $ 1,000,000 to the first developer of a video-recommendation algorithm that could beat its existing algorithm Cinematch, at predicting customer ratings by more than 10%. On September 21, 2009, it awarded the $ 1,000,000 prize to team "BellKor's Pragmatic Chaos". Cinematch, launched in 2000, was a system that recommended movies to its users, many of which might have been entirely new to

7540-555: The Pulitzer Prize for Explanatory Reporting for " An Unbelievable Story of Rape " described as "a startling examination and exposé of law enforcement's enduring failures to investigate reports of rape properly and to comprehend the traumatic effects on its victims". In 2019, this piece was adapted into the Netflix series Unbelievable . Also in 2017, it was named as a collaborator (alongside ProPublica ) when This American Life won

7670-503: The domain name DVD.com. By 2016, Netflix rebranded its DVD-by-mail service under the name DVD.com, A Netflix Company . In April 2012, Netflix filed with the Federal Election Commission (FEC) to form a political action committee (PAC) called FLIXPAC. Netflix spokesperson Joris Evers tweeted that the intent was to "engage on issues like net neutrality , bandwidth caps , UBB and VPPA ". In June 2012, Netflix signed

7800-473: The dot-com bubble , while Netflix was suffering losses, Hastings and Randolph offered to sell the company to Blockbuster for $ 50 million. John Antioco , CEO of Blockbuster, thought the offer was a joke and declined, saying, "The dot-com hysteria is completely overblown." While Netflix experienced fast growth in early 2001, the continued effects of the dot-com bubble collapse and the September 11 attacks caused

7930-408: The net asset value ("NAV") by the administrator, including the pricing of securities at current market value and calculation of the fund's income and expense accruals, is a core administrator task, because it is the price at which investors buy and sell shares in the fund. The accurate and timely calculation of NAV by the administrator is vital. The case of Anwar v. Fairfield Greenwich (SDNY 2015)

SECTION 60

#1732858095608

8060-560: The remote controls of devices compatible with the service, such as Blu-ray players . By May 2011, Netflix had become the largest source of Internet streaming traffic in North America, accounting for 30% of traffic during peak hours. On July 12, 2011, Netflix announced that it would separate its existing subscription plans into two separate plans: one covering the streaming and the other DVD rental services. The cost for streaming would be $ 7.99 per month, while DVD rental would start at

8190-458: The "Profiles" feature that permits accounts to accommodate up to five user profiles. In November 2013, Marvel Television and ABC Studios announced Netflix had ordered a slate of four television series based on the Marvel Comics characters Daredevil , Jessica Jones , Iron Fist and Luke Cage . Each of the four series received an initial order of 13 episodes, and Netflix also ordered

8320-440: The "Skip Intro" feature which allows customers to skip the intros to shows on its platform through a variety of techniques including manual reviewing, audio tagging, and machine learning . In November 2017, Netflix signed an exclusive multi-year deal with Orange Is the New Black creator Jenji Kohan . In November 2017, Netflix withdrew from co-hosting a party at the 75th Golden Globe Awards with The Weinstein Company due to

8450-551: The "We Are Witnesses" series was nominated for the 41st Annual News & Documentary Emmy Award for "Outstanding New Approaches" in the documentary category. The Marshall Project was awarded the Pulitzer Prize in National Reporting in 2021 for a yearlong investigation into injuries caused by police dog bites. The prize was shared with AL.com, IndyStar and the Invisible Institute. Hedge fund A hedge fund

8580-487: The "dynamic queue" of DVDs available for each customer, Netflix's method of using the ranked preferences in the queue to send DVDs to subscribers, and Netflix's method permitting the queue to be updated and reordered. The second cause of action alleged infringement of the subscription rental service as well as Netflix's methods of communication and delivery. The companies settled their dispute on June 25, 2007; terms were not disclosed. On October 1, 2006, Netflix announced

8710-703: The 1,226 people on the Forbes World's Billionaires List for 2012, 36 of the financiers listed "derived significant chunks" of their wealth from hedge fund management. Among the richest 1,000 people in the United Kingdom, 54 were hedge fund managers, according to the Sunday Times Rich List for 2012. A portfolio manager risks losing his past compensation if he or she engages in insider trading . In Morgan Stanley v. Skowron , 989 F. Supp. 2d 356 (S.D.N.Y. 2013), applying New York's faithless servant doctrine,

8840-632: The DVD rental market, Blockbuster's debt load and internal disagreements hurt the company. On April 4, 2006, Netflix filed a patent infringement lawsuit in which it demanded a jury trial in the United States District Court for the Northern District of California , alleging that Blockbuster 's online DVD rental subscription program violated two patents held by Netflix. The first cause of action alleged Blockbuster's infringement of copying

8970-571: The DVDs became available for sale, in an attempt to help studios sell physical copies, and similar deals involving Universal Pictures and 20th Century Fox were reached on April 9. In July 2010, Netflix signed a deal to stream movies of Relativity Media . In August 2010, Netflix reached a five-year deal worth nearly $ 1 billion to stream films from Paramount , Lionsgate and Metro-Goldwyn-Mayer . The deal increased Netflix's annual spending fees, adding roughly $ 200 million per year. It spent $ 117 million in

9100-489: The Internet. However, at that time it only had 1,000 films available for streaming, compared to 70,000 available on DVD. The company had for some time considered offering movies online, but it was only in the mid-2000s that data speeds and bandwidth costs had improved sufficiently to allow customers to download movies from the internet. The original idea was a "Netflix box" that could download movies overnight, and be ready to watch

9230-466: The Netflix production logo at the screening. Netflix's attempts to negotiate to allow a limited release in France were curtailed by organizers, as well as French cultural exception law—where theatrically screened films are legally forbidden from being made available via video-on-demand services until at least 36 months after their release. Besides traditional Hollywood markets as well as from partners like

9360-515: The Netflix mobile apps on Android or iOS to cache content on their devices in standard or high quality for viewing offline, without an Internet connection. In 2016, Netflix released an estimated 126 original series or films, more than any network or cable channel. In April 2016, Hastings stated that the company planned to expand its in-house, Los Angeles-based Netflix Studios to grow its output; Hastings ruled out any potential acquisitions of existing studios. In February 2017, Netflix signed

9490-534: The New Black had been its most-watched original series so far, with all of them having "an audience comparable with successful shows on cable and broadcast TV." On March 13, 2013, Netflix added a Facebook sharing feature, letting United States subscribers access "Watched by your friends" and "Friends' Favorites" by agreeing. This was not legal until the Video Privacy Protection Act was modified in early 2013. On August 1, 2013, Netflix reintroduced

9620-473: The Obamas' newly formed production company, Higher Ground Productions . In June 2018, Netflix announced a partnership with Telltale Games to port its adventure games to the service in a streaming video format, allowing simple controls through a television remote. The first game, Minecraft: Story Mode , was released in November 2018. In July 2018, Netflix earned the most Emmy nominations of any network for

9750-596: The Teenage Mutant Ninja Turtles . The agreement with Disney ended in 2019 due to the launch of Disney+ , with its Marvel productions moving exclusively to the service in 2022. In November 2019, Netflix announced that it had signed a long-term lease to save the Paris Theatre, the last single-screen movie theater in Manhattan . The company oversaw several renovations at the theater, including new seats and

9880-592: The UK subscribers in 2021 was £1.4bn. In April 2018, Netflix pulled out of the Cannes Film Festival , in response to new rules requiring competition films to have been released in French theaters. The Cannes premiere of Okja in 2017 was controversial, and led to discussions over the appropriateness of films with simultaneous digital releases being screened at an event showcasing theatrical film; audience members also booed

10010-635: The US bull market of the 1920s, there were numerous private investment vehicles available to wealthy investors. Of that period, the best known today is the Graham-Newman Partnership, founded by Benjamin Graham and his long-time business partner Jerry Newman. This was cited by Warren Buffett in a 2006 letter to the Museum of American Finance as an early hedge fund, and based on other comments from Buffett, Janet Tavakoli deems Graham's investment firm

10140-481: The United States . The Marshall Project has been compared with the Innocence Project , but distinguishes itself because its focus is not merely on innocent people ensnared by the criminal justice system but also on guilty people whose rights to due process, fair trial, and proportionate punishment are violated, and is considered an advocacy group by some. In 2016, The Marshall Project and partner ProPublica won

10270-647: The United States and the namesake company had ventured into other categories, such as video game publishing of mobile games through its flagship service. As of 2023, Netflix is the 23rd most-visited website in the world , with 23.66% of its traffic coming from the United States , followed by the United Kingdom at 5.84%, and Brazil at 5.64%. Netflix was founded by Marc Randolph and Reed Hastings on August 29, 1997, in Scotts Valley, California . Hastings,

10400-547: The United States collectively held $ 1.335 trillion. In April 2012, the hedge fund industry reached a record high of US$ 2.13 trillion total assets under management. In the middle of the 2010s, the hedge fund industry experienced a general decline in the "old guard" fund managers. Dan Loeb called it a "hedge fund killing field" due to the classic long/short falling out of favor because of unprecedented easing by central banks . The US stock market correlation became untenable to short sellers . The hedge fund industry today has reached

10530-497: The United States in early 1997, they tested the concept of selling or renting DVDs by mail, by mailing a compact disc to Hastings's house in Santa Cruz. When the CD arrived intact, they decided to enter the $ 16 billion Home-video sales and rental industry. Hastings is often quoted saying that he decided to start Netflix after being fined $ 40 at a Blockbuster store for being late to return

10660-436: The United States. In October 2014, Netflix announced a four-film deal with Adam Sandler and his Happy Madison Productions . In April 2015, following the launch of Daredevil , Netflix director of content operations Tracy Wright announced that Netflix had added support for audio description , and had begun to work with its partners to add descriptions to its other original series over time. The following year, as part of

10790-875: The World and worldwide distribution of Universal's Extinction , Warner Bros.' Mowgli: Legend of the Jungle , Paramount's The Lovebirds and 20th Century Studios' The Woman in the Window . In March, the service ordered Formula 1: Drive to Survive , a racing docuseries following teams in the Formula One world championship. In March 2018, Sky UK announced an agreement with Netflix to integrate Netflix's subscription VOD offering into its pay-TV service. Customers with its high-end Sky Q set-top box and service will be able to see Netflix titles alongside their regular Sky channels. In October 2022, Netflix revealed that its annual revenue from

10920-415: The agreement. In December 2018, the company announced a partnership with ESPN Films on a television documentary chronicling Michael Jordan and the 1997–98 Chicago Bulls season titled The Last Dance . It was released internationally on Netflix and became available for streaming in the United States three months after a broadcast airing on ESPN . In January 2019, Sex Education made its debut as

11050-426: The benefits may not fully accrue to workers in terms of increased wages or work hours. A hedge fund usually pays its investment manager a management fee (typically, 2% per annum of the net asset value of the fund) and a performance fee (typically, 20% of the increase in the fund's net asset value during a year). Hedge funds have existed for many decades and have become increasingly popular. They have now grown to be

11180-479: The bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing, in general, tends to thrive during

11310-436: The company to hold off plans for its initial public offering (IPO) and to lay off one-third of its 120 employees. DVD players were a popular gift for holiday sales in late 2001, and demand for DVD subscription services were "growing like crazy", according to chief talent officer Patty McCord . The company went public on May 23, 2002, selling 5.5 million shares of common stock at US$ 15.00 per share. In 2003, Netflix

11440-541: The court held that a hedge fund's portfolio manager engaging in insider trading in violation of his company's code of conduct, which also required him to report his misconduct, must repay his employer the full $ 31 million his employer paid him as compensation during his period of faithlessness. The court called the insider trading the "ultimate abuse of a portfolio manager's position". The judge also wrote: "In addition to exposing Morgan Stanley to government investigations and direct financial losses, Skowron's behavior damaged

11570-609: The effect of market swings whereas directional funds utilize trends and inconsistencies in the market and have greater exposure to the market's fluctuations. Hedge funds using a global macro investing strategy take large positions in share, bond, or currency markets in anticipation of global macroeconomic events in order to generate a risk-adjusted return . Global macro fund managers use macroeconomic ("big picture") analysis based on global market events and trends to identify opportunities for investment that would profit from anticipated price movements. While global macro strategies have

11700-443: The expected returns of some hedge fund strategies are less volatile than those of retail funds with high exposure to stock markets because of the use of hedging techniques. Research in 2015 showed that hedge fund activism can have significant real effects on target firms, including improvements in productivity and efficient reallocation of corporate assets. Moreover, these interventions often lead to increased labor productivity, although

11830-431: The fee is to discourage short-term investing, reduce turnover, and deter withdrawals after periods of poor performance. Unlike management fees and performance fees, redemption fees are usually kept by the fund and redistributed to all investors. Hedge fund management firms are often owned by their portfolio managers , who are therefore entitled to any profits that the business makes. As management fees are intended to cover

11960-540: The firm's operating costs, performance fees (and any excess management fees) are generally distributed to the firm's owners as profits. Funds do not tend to report compensation, and so published lists of the amounts earned by top managers tend to be estimates based on factors such as the fees charged by their funds and the capital they are thought to have invested in them. Many managers have accumulated large stakes in their own funds and so top hedge fund managers can earn extraordinary amounts of money, perhaps up to $ 4 billion in

12090-736: The firm's reputation, a valuable corporate asset." A hedge fund is an investment vehicle that is most often structured as an offshore corporation , limited partnership , or limited liability company . The fund is managed by an investment manager in the form of an organization or company that is legally and financially distinct from the hedge fund and its portfolio of assets . Many investment managers utilize service providers for operational support. Service providers include prime brokers, banks, administrators, distributors, and accounting firms. Prime brokers clear trades and provide leverage and short-term financing . They are usually divisions of large investment banks. The prime broker acts as

12220-563: The first African-American justice of that Court. The Marshall Project began as an idea of Neil Barsky, a former hedge-fund manager, in November 2013. When writing an op-ed in The New York Times , Barsky thought it might be a good opportunity to plug the idea, so he included a brief description of the project and the website URL in his byline. In February 2014, The New York Times reported that Bill Keller, who had been executive editor at The New York Times from July 2003 to September 2011,

12350-600: The first decade of the 21st century, hedge funds gained popularity worldwide, and, by 2008, the worldwide hedge fund industry held an estimated US$ 1.93 trillion in assets under management (AUM). However, the financial crisis of 2007–2008 caused many hedge funds to restrict investor withdrawals and their popularity and AUM totals declined. AUM totals rebounded and in April 2011 were estimated at almost $ 2 trillion. As of February 2011 , 61% of worldwide investment in hedge funds came from institutional sources. In June 2011,

12480-471: The first hedge fund. The sociologist Alfred W. Jones is credited with coining the phrase " hedged fund" and is credited with creating the first hedge fund structure in 1949. Jones referred to his fund as being "hedged", a term then commonly used on Wall Street to describe the management of investment risk due to changes in the financial markets . Jones also developed the popular 2-and-20 structure of hedge funds, in which hedge funds charged investors

12610-444: The first six months of 2010 on streaming, up from $ 31 million in 2009. On September 22, 2010, Netflix launched in Canada, its first international market. In November 2010, Netflix began offering a standalone streaming service separate from DVD rentals. In 2010, Netflix acquired the rights to Breaking Bad , produced by Sony Pictures Television, after the show's third season, at a point where original broadcaster AMC had expressed

12740-583: The first time with 112 nods. On August 27, 2018, the company signed a five-year exclusive overall deal with international best–selling author Harlan Coben . On the same day, the company signed an overall deal with Gravity Falls creator Alex Hirsch . In October 2018, Netflix paid under $ 30 million to acquire Albuquerque Studios (ABQ Studios), a $ 91 million film and TV production facility with eight sound stages in Albuquerque , New Mexico , for its first U.S. production hub, pledging to spend over $ 1 billion over

12870-585: The four main categories, there are several strategies that do not entirely fit into these categories. For an investor who already holds large quantities of equities and bonds, investment in hedge funds may provide diversification and reduce the overall portfolio risk. Managers of hedge funds often aim to produce returns that are relatively uncorrelated with market indices and are consistent with investors' desired level of risk. While hedging can reduce some risks of an investment it usually increases others, such as operational risk and model risk , so overall risk

13000-645: The fund and investors. According to the Financial Times , "big hedge funds have some of the most sophisticated and exacting risk management practices anywhere in asset management." Hedge fund managers that hold a large number of investment positions for short periods are likely to have a particularly comprehensive risk management system in place, and it has become usual for funds to have independent risk officers who assess and manage risks but are not otherwise involved in trading. A variety of different measurement techniques and models are used to estimate risk according to

13130-654: The fund trades in diversified markets, or sector specialists such as "systematic currency", in which the fund trades in foreign exchange markets or any other sector specialisation. Other sub-strategies include those employed by commodity trading advisors (CTAs), where the fund trades in futures (or options ) in commodity markets or in swaps. This is also known as a "managed future fund". CTAs trade in commodities (such as gold) and financial instruments, including stock indices . They also take both long and short positions, allowing them to make profit in both market upswings and downswings. Most global macro managers tends to be

13260-464: The fund's leverage, liquidity, and investment strategy. Non-normality of returns, volatility clustering and trends are not always accounted for by conventional risk measurement methodologies and so in addition to value at risk and similar measurements, funds may use integrated measures such as drawdowns . In addition to assessing the market-related risks that may arise from an investment, investors commonly employ operational due diligence to assess

13390-418: The hedge fund management firms with the greatest AUM were Bridgewater Associates (US$ 58.9 billion), Man Group (US$ 39.2 billion), Paulson & Co. (US$ 35.1 billion), Brevan Howard (US$ 31 billion), and Och-Ziff (US$ 29.4 billion). Bridgewater Associates had $ 70 billion in assets under management as of March 2012 . At the end of that year, the 241 largest hedge fund firms in

13520-402: The hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments. Other event-driven strategies include credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management;

13650-683: The idea for Netflix while carpooling between their homes in Santa Cruz, California , and Pure Atria's headquarters in Sunnyvale. Patty McCord , later head of human resources at Netflix, was also in the carpool group. Randolph admired Amazon and wanted to find a large category of portable items to sell over the Internet using a similar model. Hastings and Randolph considered and rejected selling and renting VHS as too expensive to stock and too delicate to ship. When they heard about DVDs, first introduced in

13780-539: The management fee from larger funds can generate a significant part of a manager's profits, and as a result some fees have been criticized by some public pension funds, such as CalPERS , for being too high. The performance fee is typically 20% of the fund's profits during any year, though performance fees range between 10% and 50%. Performance fees are intended to provide an incentive for a manager to generate profits. Performance fees have been criticized by Warren Buffett , who believes that because hedge funds share only

13910-456: The market overall. Hedge fund managers can use various types of analysis to identify price discrepancies in securities, including mathematical, technical , or fundamental techniques. Relative value is often used as a synonym for market neutral , as strategies in this category typically have very little or no directional market exposure to the market as a whole. Other relative value sub-strategies include: In addition to those strategies within

14040-592: The market, the particular instrument use, the market sector the fund specializes in ( e.g. , healthcare), the method used to select investments, and the amount of diversification within the fund. There are a variety of market approaches to different asset classes , including equity , fixed income , commodity , and currency . Instruments used include equities, fixed income, futures , options , and swaps . Strategies can be divided into those in which investments can be selected by managers, known as "discretionary/qualitative", or those in which investments are selected using

14170-468: The name Netflix and that its streaming and DVD-rental plans would remain branded together, citing customer dissatisfaction with the split. In October 2011. Netflix and The CW signed a multi-year output deal for its television shows. On January 9, 2012, Netflix started its expansion to Europe, launching in the United Kingdom and Ireland. In February 2012, Netflix reached a multi-year agreement with The Weinstein Company . In March 2012, Netflix acquired

14300-530: The next day. By 2005, Netflix had acquired movie rights and designed the box and service. But after witnessing how popular streaming services such as YouTube were despite the lack of high-definition content, the concept of using a hardware device was scrapped and replaced with a streaming concept. In February 2007, Netflix delivered its billionth DVD, a copy of Babel to a customer in Texas. In April 2007, Netflix recruited ReplayTV founder Anthony Wood , to build

14430-494: The next decade to create one of the largest film studios in North America. In November 2018, Paramount Pictures signed a multi-picture film deal with Netflix, making Paramount the first major film studio to sign a deal with Netflix. A sequel to AwesomenessTV 's To All the Boys I've Loved Before was released on Netflix under the title To All the Boys: P.S. I Still Love You as part of

14560-524: The offer was fair, but Hastings, who owned 70% of the company, turned it down on the plane ride home. Initially, Netflix offered a per-rental model for each DVD but introduced a monthly subscription concept in September 1999. The per-rental model was dropped by early 2000, allowing the company to focus on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per-title rental fees. In September 2000, during

14690-413: The one-year Treasury bill rate plus a spread. A "soft" hurdle means the performance fee is calculated on all the fund's returns if the hurdle rate is cleared. A "hard" hurdle is calculated only on returns above the hurdle rate. By example the manager sets a hurdle rate equal to 5%, and the fund return 15%, incentive fees would only apply to the 10% above the hurdle rate. A hurdle is intended to ensure that

14820-499: The opportunity for larger gains is weighed against the possibility of greater losses. Hedge funds employing leverage are likely to engage in extensive risk management practices. In comparison with investment banks , hedge fund leverage is relatively low; according to a National Bureau of Economic Research working paper, the average leverage for investment banks is 14.2, compared to between 1.5 and 2.5 for hedge funds. Some types of funds, including hedge funds, are perceived as having

14950-455: The past Nickelodeon series Invader Zim and Rocko's Modern Life ( Invader Zim: Enter the Florpus and Rocko's Modern Life: Static Cling respectively) were released by Netflix. Other new projects planned under the team-up include a music project featuring Squidward Tentacles from the animated television series SpongeBob SquarePants , and films based on The Loud House and Rise of

15080-660: The platform. On August 7, 2017, Netflix acquired Millarworld , the creator-owned publishing company of comic book writer Mark Millar . The purchase marked the first corporate acquisition to have been made by Netflix. On August 14, 2017, Netflix entered into an exclusive development deal with Shonda Rhimes and her production company Shondaland . In September 2017, Netflix announced it would offer its low-broadband mobile technology to airlines to provide better in-flight Wi-Fi so that passengers can watch movies on Netflix while on planes. In September 2017, Minister of Heritage Mélanie Joly announced that Netflix had agreed to make

15210-494: The possibility of cancelling the show. Sony pushed Netflix to release Breaking Bad in time for the fourth season, which as a result, greatly expanded the show's audience on AMC due to new viewers bingeing on the Netflix past episodes, and doubling the viewership by the time of the fifth season. Breaking Bad is considered the first such show to have this "Netflix effect". In January 2011, Netflix announced agreements with several manufacturers to include branded Netflix buttons on

15340-481: The possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place. Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs , share buy backs , security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations

15470-491: The profits and not the losses, such fees create an incentive for high-risk investment management. Performance fee rates have fallen since the start of the credit crunch . Almost all hedge fund performance fees include a " high water mark " (or "loss carryforward provision"), which means that the performance fee only applies to net profits ( i.e. , profits after losses in previous years have been recovered). This prevents managers from receiving fees for volatile performance, though

15600-476: The retail market, commonly known as mutual funds and ETFs . They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended . This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value , whereas private-equity funds generally invest in illiquid assets and return capital only after

15730-539: The rights to The Cloverfield Paradox from Paramount Pictures for $ 50 million and launched on its service on February 4, 2018, shortly after airing its first trailer during Super Bowl LII . Analysts believed that Netflix's purchase of the film helped to make the film instantly profitable for Paramount compared to a more traditional theatrical release, while Netflix benefited from the surprise reveal. Other films acquired by Netflix include international distribution for Paramount's Annihilation and Universal's News of

15860-416: The risk that error or fraud at a hedge fund might result in a loss to the investor. Considerations will include the organization and management of operations at the hedge fund manager, whether the investment strategy is likely to be sustainable, and the fund's ability to develop as a company. Since hedge funds are private entities and have few public disclosure requirements, this is sometimes perceived as

15990-529: The same price. On September 11, 2011, Netflix expanded to countries in Latin America. On September 18, 2011, Netflix announced its intentions to rebrand and restructure its DVD home media rental service as an independent subsidiary called Qwikster, separating DVD rental and streaming services. On September 26, 2011, Netflix announced a content deal with DreamWorks Animation . On October 10, 2011, Netflix announced that it would retain its DVD service under

16120-454: The same types of risk as other investment classes, including liquidity risk and manager risk. Liquidity refers to the degree to which an asset can be bought and sold or converted to cash; similar to private-equity funds, hedge funds employ a lock-up period during which an investor cannot remove money. Manager risk refers to those risks which arise from the management of funds. As well as specific risks such as style drift , which refers to

16250-490: The top manager earned $ 3 billion, the tenth earned $ 210 million, and the 30th earned $ 80 million. In 2011, the average earnings for the 25 highest-compensated hedge fund managers in the United States was $ 576 million while the mean total compensation for all hedge fund investment professionals was $ 690,786 and the median was $ 312,329. The same figures for hedge fund CEOs were $ 1,037,151 and $ 600,000, and for chief investment officers were $ 1,039,974 and $ 300,000, respectively. Of

16380-404: The underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions , recapitalizations , bankruptcies , and liquidations . Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take

16510-451: The user. Through its division Red Envelope Entertainment , Netflix licensed and distributed independent films such as Born into Brothels and Sherrybaby . In late 2006, Red Envelope Entertainment also expanded into producing original content with filmmakers such as John Waters . Netflix closed Red Envelope Entertainment in 2008. In January 2007, the company launched a streaming media service, introducing video on demand via

16640-833: Was going to work for the Marshall Project. Barsky continued to work for The Marshall Project for seven years, and announced in October of 2021 that he would step down as chairman of the organization. The Marshall Project publishes journalistic and opinion pieces on its own website, and also collaborates with news organizations and magazines to publish investigations. Its first two investigations were published in August 2014 (on its own website and in The Washington Post together) and in October 2014 (on its own website and in Slate ). It also publishes

16770-436: Was issued a patent by the U.S. Patent & Trademark Office to cover its subscription rental service and several extensions. Netflix posted its first profit in 2003, earning $ 6.5 million on revenues of $ 272 million; by 2004, profit had increased to $ 49 million on over $ 500 million in revenues. In 2005, 35,000 different films were available, and Netflix shipped 1 million DVDs out every day. In 2004, Blockbuster introduced

16900-448: Was released by Netflix on February 1, 2013, marketed as the first "Netflix Original" production. Later that month, Netflix announced an agreement with DreamWorks Animation to commission children's television series based on its properties, beginning with Turbo: F.A.S.T. , a spin-off of its film Turbo . Orange is the New Black would premiere in July 2013; Netflix stated that Orange is

#607392