In this Business English News lesson we look at business English vocabulary related to streaming TV services.
The pandemic battered many industries, including entertainment. But when theaters, concert venues, and museums shut down, the streaming wars ramped up. Besides Netflix, Disney, Amazon Prime, and Apple TV signed up thousands of new subscribers a day. In the dying days of the pandemic, however, the question has become whether they can keep them. For Netflix, the king of streaming, the news in 2022 hasn’t been good, as Gizmodo explains:
The most popular streaming service in the world reported on its Q1 earnings call that it had lost 200,000 subscribers where it originally expected to gain 2.5 million. It forecast doom and gloom for next quarter as well, with a predicted loss of two million more. The company has started laying off employees and shutting down productions in order to stave off further declines.
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