April 29, 2020
Good morning. This Wednesday: A ridiculously busy earnings schedule, what we've learned from earnings so far, and a new kind of TV show. Want Index in your inbox each morning? Subscribe here.
As of 4:20 a.m. PDT: Nasdaq Futures: 0.85% | Euro 600: 0.09% | Nikkei: -0.06% | Hang Seng: 0.28%
Tech earnings keep flooding in, and they're starting to paint a more comprehensive picture of what the industry looks like right now.
But there are some glimmers of hope. Porat said there were "some signs users are returning to more normal" search behavior, and YouTube revenue was up 33.5% thanks to more time spent on the platform — though Deutsche Bank thinks that might just be because its advertisers are taking longer to react to the crisis.
It was only a matter of time: Orange Is The New Black's Jenji Kohan is making an anthology series for Netflix, shot remotely. "Writers never physically meet during the writing process. Our director, Diego Velasco, directs our talent remotely. Our showrunner, Hilary Weisman Graham, runs production from her living room. The cast not only acts, but also films themselves at home," Kohan said.
As far as I know, this is the first big example of the entertainment industry using quarantine as a chance to try something completely different. We've seen SNL and the NFL rework their existing formats for lockdown-world, but starting from scratch could allow for some interesting experiments. I'm very excited to see what it looks like.