B1 Intermediate UK 3042 Folder Collection
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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.
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Is Netflix vulnerable? | FT

3042 Folder Collection
Lian published on November 26, 2019    Lian translated    Winnie Liao reviewed
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