How Netflix has changed the global entertainment industry

Since Netflix began its global expansion in 2016, the streaming service has rewritten the playbook for global entertainment, from TV to movies and, most recently, video games.

Hollywood used to export most of the world’s hit series and movies. Now, thanks to Netflix’s investments in international television and film, shows like South Korea’s “Squid Game,” Spain’s “Money Heist,” and France’s “Lupin” are finding massive audiences around the world. And its original English-language series, such as Shonda Rhimes’ “Bridgerton,” Ryan Murphy’s “Dahmer” and Tim Burton’s “Wednesday,” have continued to break Netflix’s internal streaming audience records.

But the transmitter is in the middle of a reality check, personified by his first quarterly loss of subscribers in a decade, hundreds in layoffs in 2022a halved share price and a feeling among employees that Netflix’s famous corporate culture has soured something. The squeeze has led the company to look more closely at new avenues for revenue and subscriber gains, such as an ad-supported version of the platform, which it had long ruled out, and a pending campaign against password sharing.

Still, Netflix’s impact on the global TV industry is undeniable.

How Netflix revolutionized the global television industry

The broadcaster found that to thrive on an international stage it needed both mass-market US programming like “Stranger Things” as well as local content that could win over viewers in specific markets (and produce huge hits).

The strategy…