Morning Brew Daily Tesla Posts Record Q2 Revenue, Goldman Sachs Struggles & Wesleyan Ends Legacy Admissions
Jul 20, 2023
Tesla celebrates a record Q2 revenue while Goldman Sachs falls short, reflecting the highs and lows of the finance world. Meanwhile, Netflix's subscriber growth shines amidst Hollywood's turmoil. The hosts dive into FIFA's ticket push for the Women's World Cup and discuss Wesleyan University's landmark decision to end legacy admissions. Also featured is the shift in TikTok trends, where creators are earning up to $7,000 a day. Join for a captivating blend of finance, sports, and digital culture!
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Netflix's Streaming Dominance
- Netflix added 5.9 million subscribers, thanks to password sharing crackdowns and cheaper ad tiers.
- Despite increased subscribers, revenue didn't jump proportionally, causing a dip in stock price.
Netflix's Future Growth
- The password sharing crackdown's effects are still unfolding, with some users taking time to convert.
- The Hollywood strike, while concerning, has freed up cash flow for Netflix by reducing content spending.
Impact of the Strike
- Netflix is least affected by the strike due to its large backlog of content and overseas projects.
- Other streaming services are struggling with profitability, leading to spending cuts and asset sales.