How Netflix is upending Hollywood
Behind the Money
Topher Forhecz
4.4 • 350 Ratings
🗓️ 2 October 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
After mounting a comeback, Netflix shares recently hit all-time highs. But its success is in stark contrast to the rest of Hollywood, which is struggling to adapt in an industry that is becoming more and more dominated by tech companies. The FT’s Los Angeles bureau chief Chris Grimes explains how Netflix came out on top and how its dominance could change the rules of Hollywood.
Clips from AP Archive, CBS, Evening Standard, Reuters, NBC
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For further reading:
How Netflix won the streaming wars
Netflix profits surge after password-sharing crackdown
Streaming wars are over and Netflix won
Netflix faces tough battle in advertising wars
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On X, follow Chris Grimes (@grimes_ce) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Let me and not the dog who used to pinch one of his freshly made cupcakes from the kitchen counter. |
| 0:08.0 | Sorry for letting you take the rap back, star. |
| 0:11.0 | We've all got something we haven't told our parents or grandparents, as sometimes |
| 0:15.4 | it's just easier that way. |
| 0:17.3 | But here's something you really do need to let them know. |
| 0:20.8 | Thousands of people over the age of 66 are missing out on pension credit worth on average |
| 0:25.3 | 3,900 pounds a year. Plus they could also be entitled to the winter fuel payment or the equivalent |
| 0:31.6 | in Scotland if they apply by December 21st. |
| 0:34.8 | Help a family member or friend check their eligibility by searching pension credit on Gov. |
| 0:39.2 | UK. The last few years in Hollywood have been rough to say the least. |
| 0:49.0 | Writers and actors on strike. L.A. is a union town. |
| 0:55.0 | On strike. |
| 0:57.0 | Movie theater attendance continues to lag. |
| 0:59.0 | The US has lost more than 2,000 movie screens since the start of the pandemic. |
| 1:05.0 | At some points, it seemed like almost everyone from Disney to Warner Brothers was feeling |
| 1:09.5 | the pain. |
| 1:10.5 | But there's one company that's not only made it through, it's capitalized on the chaos. |
| 1:17.0 | Netflix recently hit an all-time high on the stock market and you contrast that with what's happening with the traditional studios. |
| 1:31.0 | You know, the traditional Hollywood companies are having a really rough time right now |
| 1:36.8 | Netflix seems to be back on top and in Hollywood everybody loves a comeback story, right? |
| 1:44.0 | Well, maybe everyone besides Netflix's competitors. I'm Michaela Tindara from the Financial Times. |
| 1:58.0 | Today on Behind The Money, I'm talking with the F.T.'s L.A. Bureau Chief, Chris Grimes, about how |
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