welcome to world business report. i'm lukwesa burak. we start in the us — where streaming giant netflix has revealed better than expected profits — and another big jump in the number of us around the world paying for its services. netflix signed up more than 9 million new subscribers in the first three months of the year. that's almost double the number expected and it takes the total global subscriber base to just under 270 million people. joining me now is our north america business correspondent, erin delmore, in new york. hello. great news for netflix but an announcement today that could have upset investors and it comes about disclosure, basically.—

disclosure, basically. yes, what we're seeing — disclosure, basically. yes, what we're seeing with _ disclosure, basically. yes, what we're seeing with netflix - disclosure, basically. yes, what we're seeing with netflix is - disclosure, basically. yes, what we're seeing with netflix is an l we're seeing with netflix is an interesting story because he's a great earnings report, come out yesterday and we more subscribers, more new paying subscribers and that actually beat the expectations of what had been around north of 5 million was expected but they reported actually more than 9 million and this comes after a great queue forfor netflix million and this comes after a great queue for for netflix when the report of the most ever new subscribers that we had seen since the onset of the pandemic. in the meantime we saw netflix shares actually fall at the end of the day yesterday after this was announced and that is an interesting concept and that is an interesting concept and you think about how subscribers are, revenue beat expectations but at the same time we are wondering what is ahead for netflix and there are a couple of different breadcrumbs they have dropped. one is they are not going to be giving us numbers any more on how many new subscribers have been added every quarter. they said that is something that helped measure success in the early days before revenue and earnings are something they could really report and they said that helped showcase their future potential but now the best metric to

measure their success is engagement. how long people spend on your platform. rememberthis how long people spend on your platform. remember this is where netflix made big changes to how it will elicit a larger audience going forward. userforthis will elicit a larger audience going forward. userfor this brand—name forward. user for this brand—name content, forward. userfor this brand—name content, big studio, big budget bringing in even big directors, garnering as many as 18 oscar nominations but then bringing in just one and so now we see this pivot very expect some news on video games, we see a pivot into live and sports programming and we see more what used to be known as syndication. investment in other programming that is already out on other channels taking a bite out of that traditional tv model.- that traditional tv model. focus from netflix _ that traditional tv model. focus from netflix is _ that traditional tv model. focus from netflix is focused - that traditional tv model. focus from netflix is focused on - that traditional tv model. focus from netflix is focused on the i from netflix is focused on the financials. they want to up equality when comes to films. i have two questions. well, one primary question. does that mean i subscribers you and i will pay more for their services? will our bills

go for their services? will our bills 9° up for their services? will our bills go up likely? for their services? will our bills 90 up likely?— for their services? will our bills go up likely? that is exactly what ou're go up likely? that is exactly what you're looking — go up likely? that is exactly what you're looking to _ go up likely? that is exactly what you're looking to see _ go up likely? that is exactly what you're looking to see during - go up likely? that is exactly what you're looking to see during the l you're looking to see during the earnings report yesterday and again about breadcrumbs, it's something netflix has mentioned earlier, especially at the end of that 01 call saying price increases could be on the horizon and many investors want to know any price increases will happen, how many people they will happen, how many people they will affect and when it will happen on the timeline. that is the kind of thing that makes a share price go up when you can see how and when a company is going to be bringing in more money but without that kind of guidance, people are left to think, well, as the company reached saturation? all the people who want to subscribe to netflix subscribe? as this magpies are getting more crowded and there are more competitors any market, is the kind of data that could make not much of a fall. �* ,., of data that could make not much of afall. �* ~ of data that could make not much of afall. �* , a fall. also tick-tock being discussed _ a fall. also tick-tock being discussed at _ a fall. also tick-tock being discussed at the _ a fall. also tick-tock being discussed at the moment. | a fall. also tick-tock being - discussed at the moment. the next step in these discussions and as to whether this legislation comes through and they will have to sell off in the us. —— tiktok being discussed. what is the latest? i5 discussed. what is the latest? i3

got a lot of headlines when it passed through the house, this is basically through house committee saying the us would want to pressure china to divest the chinese company tiktok —— the chinese company that owns tiktok. they talk about how this is a national security threat to the us and meanwhile it is very forgot to make a foreign company sell off one of its assets. it would take not only a pressure campaign but a credible buyer and for one as enormous as tiktok, it is hard to envision but we have seen groups of wealthy investors come together and discuss it, certainly. it's hard to get through the house and to be brought up in the senate which is how we see it now potentially being bundled with larger bills like a foreign aid package, something that has a lot of pressure on it, a lot of hype on it and something that the future of the company rides on. this is how a lot of bigger contentious legislation gets through and one of the things i will remind you as it

is an election year here in the us which means it is even tougher to have members take hard votes, things that could be unpopular with constituents, how to pull people across the aisle and get a consensus and one thing i will mention about the ultimate fate of this bill is that senator chuck schumer, leader of the senate, has now committed to bringing it to the senate floor which is a step that would make it pass. which is a step that would make it ass. . ~' which is a step that would make it ass. . ~ ,, which is a step that would make it ass. ., ~ i. ., which is a step that would make it ass. . ~ ,, ., ., which is a step that would make it ass. ., ~' i., ., ., ., , pass. thank you, have a lovely weekend- _ pass. thank you, have a lovely weekend. thank _ pass. thank you, have a lovely weekend. thank you. - in the next six weeks, india will be voting in its general election. voting has been staggered across different states for security and logistical reasons ensuring that even those in the most remote areas can cast their ballots. voting is said set to end onjune one with results onjune four, the current

prime minister, this gentleman here, narendra modi, of the hindu nationalist bjp party, is expected a third term in office. as ever, the economy is taking centre stage. joining me now is our india business correspondence. lovely to see you there. the polls have shot. and a lot of emphasis on the economy. absolutely. i want to take a moment to explain to you where i am because this has been a politically significant as well as important for me business and industry point of view because we are in the city of chennai and this is where polling happened all through the day today and in fact the state has 39 lawmakers who are sent to the indian parliament and they voted today so in that sense it is important but from a business point of view, it is very critical because this is india's second largest state economy

which contributes 9% of the country, gdp so they find themselves in the middle of economic discourse. it has also attracted lots of big international brands as they look to diversify beyond china and supply chains so you have iphone manufacturers, you have the likes of hume day, samsung, all having a big presence year which is why the state becomes doubly important. —— hyundai and samsung. the way they have managed to attract big foreign investment and big foreign players have been critical in that sense as well and this state, as i said, as i was been a big business hub and it remains to be seen how, really, the voting pattern emerges in the weeks ahead when we come down to the big results today. trier? ahead when we come down to the big results today-— results today. very quickly, when is the next step _ results today. very quickly, when is the next step in _ results today. very quickly, when is the next step in these _ results today. very quickly, when is the next step in these elections? i the next step in these elections? like we said it is over six weeks. we have the next phase happening next week but let me just quickly also tell you about the big issues that are there from an economic

point of view. whenever we speak to people, the primary issue is unemployment, how the educated indian youth are still struggling to find jobs and on paper india is one of the fastest growing economies in the world but in other aspects there are some challenges as well at the forefront of these elections for instance with public spending at its slowest in 20 years and inequality in india widened to a 100 year high so when you talk about development, the opposition is questioning whether the development has become sufficient and has been for all because the bjp has been selling and showcasing on their flag because the bjp has been selling and showcasing on theirflag of development. i showcasing on their flag of development.— showcasing on their flag of development. showcasing on their flag of develoment. ~ ., , development. i know we will be s-ueakin development. i know we will be speaking to _ development. i know we will be speaking to you _ development. i know we will be speaking to you again _ development. i know we will be speaking to you again in - development. i know we will be speaking to you again in the - development. i know we will be l speaking to you again in the next six weeks but for now thank you very much indeed. thank you. plenty of attention in the middle east on oil prices. prices jumped after us officials said an israeli missile had struck

iran earlier on friday. brent crude surged by as much as 4.2% initially, though it's since fallen back. investors have been closely watching israel's response to the iranian drone and missile attack last weekend, with concerns a worsening conflict could disrupt supplies. iran is opec�*s third—largest oil producer. joining me now is cornelia meyer, independent energy analyst and ceo of �*meyer resources'. what are the expectations for the oil price, it has fallen lovely to have your new programme. this is said to be a limited response, limited market disruption or limited impact on oil prices? it was a limited response and that is one thing but you saw that even when the irani and drones hit israel, oil barely moved and the reason is the boy. as long as we still have oil

flowing and there is serious disruption to the market, what we see is plenty of spare capacity. —— the reason is the buoy. opec was production cuts which were quite big so for instance saudi arabia has spare capacity of around 3 million barrels per day so whatever happens, there are people who can move into barrels that are missing from the market should that be necessary. trailing market should that be necessary. why do ou market should that be necessary. why do you think — market should that be necessary. why do you think secondary sanctions have not been placed on iran? it is those that could seriously impact their oiling industry, isn't it? because it targets banking? yes. their oiling industry, isn't it? because it targets banking? yes, the bankin: because it targets banking? yes, the banking sanctions _ because it targets banking? yes, the banking sanctions but _ because it targets banking? yes, the banking sanctions but again - because it targets banking? yes, the banking sanctions but again if - because it targets banking? yes, the banking sanctions but again if you - banking sanctions but again if you look at the oil markets, they are quite tight. as you have one of the opec plus members, russia, is under quite severe sanctions, so there is not much. venezuela under sanctions.

there is only that much you can really put in terms of sanctions so you saw that the g7 talks about sanctions but they did not put the oil industry under the sanctions package. they put the industry that produces drones under that package because everybody knows the global economy needs to be supplied with oil. inflation is still there. it is not coming down, especially not in the us so nobody especially in the oecd... the us so nobody especially in the oecd. .. ., ., the us so nobody especially in the oecd... ., ., ., ., ~ oecd. .. ok. you want to take interest rates _ oecd. .. ok. you want to take interest rates down _ oecd. .. ok. you want to take interest rates down so - oecd. .. ok. you want to take interest rates down so you - oecd. .. ok. you want to take | interest rates down so you don't want to see oil interest rates soar too much. before we go and briefly, you mentioned iran as part of opec, third biggest supplier. is there membership at riskier? ha. third biggest supplier. is there membership at riskier? no. iran's membership _ membership at riskier? no. iran's membership was _ membership at riskier? no. iran's membership was not _ membership at riskier? no. iran's membership was not at _ membership at riskier? no. iran's membership was not at risk- membership at riskier? no. iran's membership was not at risk when | membership was not at risk when there was a war going on between iran and iraq, so, no. iran's membership is not. opec is very good

at working through crisis and working through animosity. absolutely not.— working through animosity. absolutely not. working through animosity. absolutel not. , ., , ., absolutely not. sorry to rush you a thank ou absolutely not. sorry to rush you a thank you so _ absolutely not. sorry to rush you a thank you so much. _ absolutely not. sorry to rush you a thank you so much. i _ absolutely not. sorry to rush you a thank you so much. i think- absolutely not. sorry to rush you a thank you so much. i think we - thank you so much. i think we touched all the main points there. thank you. and that was your world business report. from me, cheerio.

up hello from the bbc sport centre. bayer leverkusen head coach xabi alonso expects english clubs to bounce back in europe next season after aston villa became the premier league's only representative in the semi finals of the three uefa competitions. the premier league's poor results means that it is unlikely to get a fifth champions league spot next season.

italy's serie a have secured one of the two additional places while the bundesliga is likely to get the second. english football still has an outside chance but it would now take an unlikely sequence of results for it to become reality. i'm a i'm a little reluctant to draw too many big conclusions because what you cling to find as often these things in europe are cyclical and actually premier league clubs have dominated european competition of late. i dominated european competition of late. . . , ~ dominated european competition of late. . ., , ,, ., late. i certainly think there are robabl late. i certainly think there are probably too — late. i certainly think there are probably too many _ late. i certainly think there are probably too many games, - late. i certainly think there are j probably too many games, too late. i certainly think there are - probably too many games, too many intense games and it does have an impact on the premier league sides but we have seen them be strong in recent years so if anything, it's probably a good thing for competitive balance when you're talking about european football as a whole but obviously it has not been a good time for premier league sides. germany managerjulian nagelsmann has signed a contract extension running until after the 2026 world cup. nagelsmann, 36, was appointed as hansi flick�*s successor in september 2023 and has won three of his six games in charge. his previous deal was scheduled to expire injuly after germany host

euro 202a. he said "this is a decision from the heart.