Netflix is expanding and Snapchat is giving out $1 million daily to anyone
Netflix (NASDAQ: NFLX) is expanding its ABQ studios in Albuquerque, New Mexico. Netflix will spend $1billion on the studio project but will also get $17 million in support from the New Mexico government and $7 million from the city of Albuquerque. Shares of Netflix Inc. closed down 2.38% yesterday. Click here to read more.
Snapchat (NYSE: SNAP) is tired of being copied by competitors and is now doing some copying of its own. The social media company launched a TikTok-like feature called Spotlight. This new feature will display viral videos chosen according to user preference and interaction. But unlike Tiktok, Snapchat will literally give out $1million each day to the most popular creators. Well played, Snapchat. Click here to read more
On Monday, U.S Traffic regulators ordered General Motors (NYSE: GM) to recall over 5 million vehicles with defective airbags. Takata, a now-bankrupt Japanese company, made the faulty airbags. The recall will cost General Motors about $1.2 billion. Ouch. Click here to read more
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