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Amazon uses entertainment as a loss leader to fuel Prime subscriptions and retail loyalty. Their $250 million Citadel franchise may have underperformed critically, but Fallout (based on the video game) was a massive hit. Their acquisition of MGM gave them the Rocky/Creed and James Bond franchises.

Host: "But the game has changed. Enter Netflix . They disrupted 100 years of tradition by bringing the cinema to your couch. With hits like Stranger Things and Squid Game , they proved you don’t need a movie theater to make a global phenomenon." bangbros free com

Expand the horror-verse. M3GAN spawned a sequel already in production; Five Nights at Freddy’s was a streaming juggernaut on Peacock. They’re also moving into thrillers and even a The Exorcist trilogy (though the first installment underperformed). Amazon uses entertainment as a loss leader to

Barbie, Dune: Part Two, The Last of Us, Succession Host: "But the game has changed

Global localization. Netflix is now the world’s largest producer of non-English content, with hits from Korea ( Physical: 100 ), Spain ( Berlin ), and Japan ( Alice in Borderland ). They’ve also pivoted to live events (the SAG Awards , a live Hot Ones special) and are aggressively pursuing gaming as a companion vertical.

From the backlot of Burbank to a green-screen stage in Seoul, the business of making us feel something—fear, laughter, tears, wonder—remains the most popular entertainment of all.