Netflix and HBO dominated the Emmy Awards nominations lists but they are testing investors' patience
would be in great shape. At the 71st annual Emmy Awards, held on September 22nd, the two accounted for four of the eight nominees for Outstanding Drama series, and three of the seven for Outstanding Comedy. Yet though content may be king, both companies are facing angry crowds wielding pitchforks.
Netflix has long framed its aggressive spending as part of a strategy to dominate people’s leisure time, but investors’ patience is being tested . Total returns have tumbled. Subscriber numbers in America fell earlier this year for the first time since 2011. Undeterred, Netflix keeps splurging on original and licensed content. It reportedly paid over $500m for the rights to “Seinfeld”.
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