we caught up with justin patterson on thursday. still in the early phase of secular growth of streaming music. you have a lot of devices like the amazon echo, google home proliferating, and subscription has gained more awareness with customers. it is very early. people are shifting from a traditional purchase model to a rental model, and there is a lot of growth across the globe. spotify is one of the beneficiaries. emily: we talk a lot about the subscription service. the ad supported free service is a big driver. how big? justin: it varies for company to company. for spotify, it is about 10% of revenue. they missed a little bit this quarter due to some gdpr-related issues. longer-term, radio is a $25 billion market, and there is room for spotify. emily: talk about the competition with apple. we are still waiting for apple to report, but this is a company that obviously has really deep pockets and really long-term relationships with artists that spotify has to compete with. justin: apple does have a platform advantage. it can push a

emily: that was justin patterson. we hear from energy ceo as they hit the public market shares spike in over 60%. why it is so rare for alternative energy companies to go public. this is bloomberg. ♪ emily: bloomberg has learned the trump administration will try to revoke california's authority to regulate car efficient -- emissions. the revision of obama era standards is expected this week, and would put the brakes on federal rules to boost fuel efficiency and instead, what cap federal fuel economy required. -requirements. manhattan office buildings and sprawling data centers cannot get power without connecting to an energy grid. bloom energy is making that happen. this 270 million dollar ipo means more cash to fund expansion. it is the first alternative energy ipo the u.s. since october 2016. and the best first date debut of the past five years. shares were up over 66%. bloomberg deals and ipo reporter alex barinka reports. alex: imagine a future where anyone can be their own power provider. that is the reality is t

i will start to with raymond james, justin patterson. he says subscribers internationally strong.onal more important than the united states. he expects five million add this is quarter and next quarter. credit suisse expects six million for each and he puts outperform rating of 465. a price hike coming internationally next quarter or two. that will allay the cash burns concerns. buckingham says the good news is all priced in. that is why he had underperform rating. scott who was with us, $380 support levels. cautious tone is good. if they surprise stock will pop. he will play it after hours. if it pops, tomorrow all the "fang" stocks jump up along with netflix. liz: buckingham memo. if i had a nickel every time everybody said good news is all baked into netflix we would be a lot richer. >> 445% later in one year. over 300 in two years. unbelievable performance. thank you very much. nick and i have boys. they like stranger things. between amazon prime day, retail sales report is little like christmas in july. look at amazon for a moment. look at drop-up. the whole site crashed at 3

a couple analysts, just now, 12:48 just got in my latest note because i've been talking with justin pattersons. people were concerned about the numbers. they didn't have the subscriber growth. he said the numbers and results could be lumpy in nature. share price had appropriate correction he says, but the long-term growth story is very much intact for netflix. it is well-positioned for 35% revenue growth in 2018 and 2019. we thank him. he is more cautious on this one and concerned about intense competition abroad. getting to the bank stocks, look at these, netflix appears fully valued on relative to the other bank names. he is not as positive. amazon is down .1% but it did hit all-time high earlier today. prime day was a big hit. they had the most sales ever. it beat out black friday. it beat outside per monday. it beat out last year's prime day. it was 36 hours, they did particularly well with that. google slightly higher despite the e.u. antitrust fine of 5 billion. of course they will appeal that one. facebook up about 41 cents right now. charles. charles: nicole, thank you very much. alwa

steve patterson, nbc news, salt lake city. >>> coming up, justin bieber back in the headlines tonightannouncement that is leaving some fans sorry. >>> a family celebration at a home in connecticut turned frightening last night. several babies and small children were rushed to the hospital after a second floor deck collapsed. 15 family members gathered on the deck were injured, none seriously, thankfully. the group was welcoming home two infants born in the last two weeks. >>> on a happier note,eson to 21-year-old actress and model haley baldwin, the daughter of actor steven baldwin and niece of alec. tmz says eyewitnesses saw bieber propose at a resort in the bahamas. the couple have dated on and off most recently for the past month. >>> when we come back, inspiring moments from the daring cave rescue in thailand. >>> finally tonight -- it's not often these days that people all over are watching the same thing all together united for one cause. but this weekend it seemed like everyone in the world was pulling for those young soccer players trapped in a cave in thailand. we can all ima

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