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  • Netflix spearheaded a streaming revolution that changed the way we watch TV and films.

  • As cable TV lost subscribers, Netflix gained them.

  • Netflix first invaded US living rooms with video streaming in 2007.

  • But it would take six more years before it made a big splash with its own shows.

  • The company paid 100 million dollars for two seasons of political thriller House of Cards.

  • It put Netflix on the map with both audiences and Hollywood.

  • The company now spends more than 70 percent of revenues on content.

  • But this has led to its long-term debt growing considerably.

  • Netflix projects it will spend 3.5 billion dollars more than it will generate in cash in 2019.

  • Meanwhile, rival streaming services such as Hulu, Amazon, and Apple have become more aggressive in acquiring content.

  • And after years of false starts, Apple is planning to launch its own streaming service in November, as is Disney.

  • This has cast doubt over whether Netflix is as invincible as it previously seemed.

  • The California-based company added 6.8 million subscribers globally for the third quarter.

  • This was below its guidance of 7 million.

  • It also follows a worrying second quarter.

  • The company lost 126,000 subscribers in the US.

  • This was the first drop in its core market since 2011.

  • Netflix is currently valued at 120 billion dollars.

  • Wall Street is now seeking evidence as to whether this quarterly miss was a blip or a trend.

Netflix spearheaded a streaming revolution that changed the way we watch TV and films.

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Is Netflix vulnerable? | FT

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    Lian posted on 2019/12/22
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