Daily Business Report: Thursday, Oct. 20, 2022
Nexflix vs Disney: Who’s Winning the Streaming War?
Visual Capitalist
Netflix is well-known as one of the pioneers of mass-market video streaming. The service has become so ubiquitous that the word “Netflix” is now synonymous with watching a movie or television show.
But, while it’s one of the most recognized streaming platforms in the world, has it been able to maintain its dominant position in the industry now that more competitors have entered the ray?
A graphic by Truman Du shows how Disney’s streaming empire (Disney+, Hulu, and ESPN+) has quickly gained subscribers and is giving Netflix a run for its money.
Netflix: The Beginning
ounded in 1997, Netflix started out as mail-order DVD rental company. One of the co-founders Reed Hastings told Fortune Magazine that he got the idea for Netflix after he was charged a $40 late fee for a VHS he’d rented out. By 2007, Netflix had evolved from a relatively modest DVD rental company into a ground-breaking subscription-based streaming service. While there were a few other streaming platforms at the time, Netflix had a significant first mover’s advantage, operating on a subscription model and acquiring a wide pool of distribution rights from different studios.
This allowed the company to grow rapidly and establish itself as an industry leader. From 2007 to 2022, Netflix’s subscriber base grew from 7 million to 221 million, nearly 3,000 percent.
When Did Disney Enter the Scene?
The Walt Disney Company got involved in the streaming industry in 2009 when it first joined Hulu as a minor stakeholder, but became more directly invested in 2016 when it bought a 33 percent stake in BAMTECH Media, a video streaming technology company.
While Disney arrived much later on the scene compared to Netflix, it didn’t take long for Disney’s platforms to gain traction. And as of Q2 2022, Disney’s streaming empire (Disney+, Hulu, and ESPN+) has more combined subscribers than Netflix, and are gaining at a rapid pace.
Migrants ending up in city homeless
shelters amid border surge
By Lisa Halverstadt | Voice of San Diego
Dozens of migrants are staying in city-funded homeless shelters amid a spike in border arrivals who cannot quickly connect with support systems elsewhere. Nonprofit Alpha Project reported Tuesday it was temporarily housing 45 mostly Venezuelan migrants at three of its shelters while Father Joe’s Villages said late Monday it was sheltering 20 asylum seekers. The flow of migrants into city shelters follows a surge of crossings along the southwestern border, including by some who previously moved into bustling San Diego migrant shelters that could only keep them for 30 days.
As an unknown number of migrants without contacts elsewhere in the United States depart dedicated shelters or decline to stay in them, some are ending up in city homeless shelters.
Junior Achievement to honor San Diego homeless advocates
Junior Achievement of San Diego County (JA) today announced they will induct Chairman of the Padres Peter Seidler; SDG&E CEO Caroline Winn; Co-founders of the Lucky Duck Foundation Stephanie and Pat Kilkenny; and Feeding San Diego CEO Dan Shea into the San Diego Business Hall of Fame at their annual luncheon Tuesday, Oct. 25, at The Lodge at Torrey Pines.
JA’s Business Hall of Fame was established in 1994 to recognize San Diego’s leaders who have been professionally successful while also continuing to invest in the community through philanthropy, mentorship, innovation, or other creative engagement.
La Mesa Police Department awarded
$100,000 grant to improve road safety
The La Mesa Police Department has been awarded a $100,000 grant to deter unsafe behaviors and increase safety out on the roads. LMPD will increase patrols throughout the community and provide other traffic safety programs to help reduce the number of serious injuries and deaths on roads.
“This grant funding allows us to support our ongoing traffic safety efforts in the community,” La Mesa Police Chief Ray Sweeney said. “Our intent is to stop the most unlawful and dangerous behaviors that put people at risk and create an environment where everyone feels safe traveling.”
—sdnews.com
California GOP demands emergency
action on taxes and crime
By Emily Hoeven | CalMatters
California Republicans are zeroing in on the three issues on which they say Democrats may be most vulnerable heading into the Nov. 8 election: The rising cost of living, crime and homelessness. On Tuesday, 26 of the 28 current Republican lawmakers asked the Democratic leaders of the state Assembly and Senate to “immediately” reconvene the state Legislature — which adjourned at the end of August — for a session focused on those three topics.
“These are urgent matters that cannot wait until next year for the Legislature to take action,” the GOP lawmakers wrote. Republicans oppose Gov. Gavin Newsom’s plan to call a special legislative session on Dec. 5 — the same day the new Legislature will be sworn into office — to consider a windfall profits tax on the oil and gas industry, which Newsom has said will help bring down gas prices.
Attorney William Baldwin named executive
director of San Diego County Bar Association
Attorney and experienced bar association and nonprofit leader William L. Baldwin will join the San Diego County Bar Association as executive director effective Nov. 21.
Baldwin joins the SDCBA after spending more than a decade as executive director of the Delaware County Bar Association.
Baldwin holds a B.A. in History from LaSalle University and a J.D. from Temple University School of Law, as well as a certificate in Nonprofit Management from the Nonprofit Executive Leadership Institute of the Bryn Mawr College Graduate School of Social Work.
San Diegan Sam Nejabat named to Governor’s
Office of Business and Economic Development
Gov. Gavin Newsom has appointed Sam Nejabat, 32, of San Diego, as assistant deputy director of external affairs at the Governor’s Office of Business and Economic Development.
Nejabat has been senior business development specialist at the Governor’s Office of Business and Economic Development since 2020.
He was president of SJN Properties from 2013 to 2020 and a summer legal ssociate for AT&T in 2018. He is a member of the LN Foundation and the San Diego County Fair Board of Directors.
Nejabat earned a Juris Doctor degree from the University of California, Berkeley School of Law and a Master of Arts degree in Liberal Studies from Dartmouth College. The position does not require Senate confirmation and the compensation is $126,552.
Nejabat is a Democrat.
Former general counsel of Brixton Capital joins
Crosbie Gliner Schiffman Southard & Swanson LLP
Crosbie Gliner Schiffman Southard & Swanson LLP, a San Diego-based commercial real estate law firm, announced the addition of its newest partner, Priya Huggett.
Previously general counsel of Brixton Capital, a private real estate investment firm with more than $1 billion in assets, she joins CGS3’s acquisitions and dispositions, finance and commercial leasing practice groups and will be based in the firm’s San Diego office.
With more than 20 years of experience in all facets of commercial real estate – including acquisitions, dispositions, development, leasing, finance and operations covering multifamily, retail, residential, hospitality and office assets – Huggett’s practice emphasizes a variety of corporate/commercial and real estate transactions.
(W)right On Communications adds staff
(W)right On Communications has hired Sonja Hanson as senior communications strategist in the agency’s B2B & Technology division, and Aditi Vengurlekar as a multimedia graphic designer.
Hanson is a military veteran and has over two decades of strategic communications experience, including public affairs officer at the U.S. Navy and Naval Medical Center San Diego; deputy director of corporate communications for SPAWAR; chief communications officer for the City of Bellevue, Wash.; strategic communications officer for the National Park Service.
Vengurlekar brings to (W)right On a Bachelor of Fine Arts degree in Drawing and Painting along with a Master of Arts degree in Visual Effects and Animation during which she held a 3.9/4.0 GPA.
Westville High School’s Leanne Fan wins
$25,000 prize as ‘America’s Top Young Scientist
3M and Discovery Education have named Leanne Fan, a ninth grader at Westville High School in Poway Unified School District, the winner of the 2022 3M Young Scientist Challenge, a middle school science competition.
She received a $25,000 cash prize, the title of “America’s Top Young Scientist,” and a special destination trip.
The world sees 700 million cases of mid-ear infections and nearly 21,000 deaths annually. Leanne’s invention, Finsen Headphones, looks to provide an antibiotic free, low-cost option to detect and treat a mid-ear infection using machine learning and blue light therapy.
The use of Finsen Headphones could potentially reduce the number of children who suffer from hearing loss by up to 60 percent.
Continental Maritime San Diego
receives $88.2 million Navy contract
Continental Maritime of San Diego LLC has been awarded a $88.2 million U.S. Navy contract for maintenance, modernization and repairs on the USS Momsen and USS Chafee in San Diego. The contract includes options which, if exercised, would bring the cumulative value of the work to $204.5 million. Work will be performed in San Diego and is expected to be completed by June 2025. The Naval Sea Systems Command, Washington, D.C., is the contracting agency.
Space Micro awarded contract by the U.S. Space Force
Space Micro Inc., powered by Voyager Space, has been awarded an Orbital Prime contract by the U.S. Space Force (USSF) as part of the first phase of the Small Business Technology Transfer (STTR) program. Space Micro proposed the development of Control Moment Gyro Barnacle (Barnacle), a robotic spacecraft that would replace or restore Attitude Determination and Control Systems capabilities and to expand on-orbit servicing, assembly, and manufacturing. Space Micro’s winning proposal is part of the USSF’s push to spur innovation, update high-value bespoke space systems, and harvest the maximum lifetime from these assets.
Nucleix receives CAP accreditation for San Diego laboratory
Nucleix, a liquid biopsy company revolutionizing cancer treatment by detecting the disease earlier, announced that its San Diego-based clinical laboratory received accreditation by the College of American Pathologists (CAP). This achievement follows the recent certification under the Clinical Laboratory Improvement Amendments (CLIA) of 1988 from the U.S. Department of Health and Human Services’ Centers for Medicare and Medicaid Services. These designations highlight the commitment, work ethic and quality demonstrated by the laboratory team. The CAP Laboratory Accreditation Program is the gold standard for laboratory excellence. Their program fosters an environment for continuous improvement and patient safety.
GoSecure appoints David DeRuff as CFO
GoSecure, a leading provider of managed detection and response and expert advisory services, announced the appointment of David DeRuff as chief financial officer. DeRuff brings with him an extensive background of investment banking experience focused on growth companies in industries where technology plays a transformative role.
Prior to joining GoSecure, DeRuff was a partner at DBO Partners, a technology investment banking firm in the San Francisco Bay Area, where he advised companies strategically on scaling to the next level. DeRuff previously served as DBO Partners COO and CCO, working to ensure smooth operations, access to the best information and highly available technology solutions, and compliance with industry regulations.
$5 million award will establish
Imperial County research network
San Diego State University, SDSU Imperial Valley and El Centro Regional Medical Center (ECRMC) have received a $5 million cooperative agreement award from an arm of the National Institutes of Health to tackle health inequities in the region. Over five years, the funds will help to establish the Imperial County Clinical Research Network, a partnership between the SDSU HealthLINK Center, SDSU IV (RISE) Center, and ECRMC. SDSU professor of public health Guadalupe X. Ayala, SDSU assistant professor and associate director of nursing Helina Hoyt and chief clinical officer of ECRMC Suzanne Martinez are the principal investigators.
Physician-scientist elected to National Academy of Medicine
Victor Nizet, professor of pediatrics at University of California San Diego School of Medicine and Pharmacy at Skaggs School of Pharmacy and Pharmaceutical Sciences, has been elected to the National Academy of Medicine. Membership is considered among the highest honors that can be accorded in the fields of health and medicine. In officially announcing Nizet’s election, NAM credited Nizet “for discovering numerous hallmark virulence mechanisms of bacterial pathogens and key roles of antimicrobial peptides, neutrophils and macrophages in innate immunity. His translational research has yielded innovative approaches to counteract the threats of antibiotic resistance and sepsis.”
