Hollywood is on strike, but Netflix is safe
Listen to the story (Indian accent)
Hollywood actors and writers are on strike. They are demanding better pay and job security as video streaming services and AI become more popular.
Because of the strike, many TV and movie productions have stopped. There are also people protesting outside of the Netflix office in Los Angeles.
However, Netflix investors are not worried because the company has good shows that have already finished production. It also has an international production team which isn’t affected by the strike.
It seems that Netflix has increased the number of new subscribers in the second quarter of this year, the most since 2020.
One of Netflix's strengths is its global content, which helped during the pandemic when people watched international shows like “Lupin” and “Call My Agent!”
Netflix is also working on stopping people from sharing passwords, and made a cheaper plan with ads. This helped them get more subscribers.
Experts estimate that about 100 million households share Netflix passwords. They believe that around 50% of the households will create additional accounts because of the new password sharing rules.
Experts also think more people will sign up for the plan with ads and Netflix will earn around $770 million from ads by the end of 2023.
The second quarter is usually weak for Netflix, but it is estimated to have gained around 1.77 million new subscribers. In the second quarter of 2021, Netflix lost almost 1 million subscribers.
Vocabulary32 words
- Strike
- a work stoppage organized by employees to demand better working conditions or higher wages; when employees agree to stop working and try to get more money from their employer
- Demand
- to request very strongly, to require
- Job security
- Feeling safe that you won't lose your job easily; the feeling that you won’t suddenly be fired or not have a job
- Video streaming service
- A website or app that lets you watch movies and shows online, like Netflix and Disney+
- Artificial intelligence (AI)
- human intelligence in a machine. See more here.
- Movie production
- The process of making a movie, including writing, filming, and editing
- Production
- the process of making or creating something, usually on a large scale/in large numbers
- Protest
- to say you don’t like something, to fight against, to object, disagree
- Investor
- A person who puts money into a company or property and hopes to get a profit
- Affect
- to have an influence on or change something;
- Subscriber
- a person who pays regularly (every week, month, or year) to receive a product or service
- Quarter
- A period of three months;
- Strength
- strong point; advantage; pro;
- Global
- related to the whole world; everywhere in the world
- Content
- information, images, video, etc. that are included as part of something like a website or social media account; material created by a person
- Pandemic
- when a disease or sickness goes all over the country or world
- Work on
- To spend time and effort to do something or make it better;
- Share
- to have or use something at the same time as someone else; to divide food, money, goods, etc. and give some of it to someone else
- Password
- A secret word or phrase that is used to protect something, like an account; A secret word or code used to get access to something
- Plan
- a package or offer from a service provider; not physical product, but the service provided by a company
- Ad (advertisement)
- marketing or sales material; a notice or sign to promote something
- Expert
- a person with great knowledge and experience in a trade or profession
- Estimate
- guess; approximate; judge; suppose
- Household
- All the people living together in one home
- Additional
- Something more or extra; to add to
- Account
- a user’s profile/page on social media or internet service; something used to access and participate in social media or use an internet service
- Rule
- A guideline or regulation; sometimes a law
- Sign up
- to join; to apply for; agree to do something
- Earn
- to get something (usually money) because you worked, sold something, or helped someone; to receive
- Weak
- not strong; low performance; bad
- Gain
- To get something that you didn't have before
- Lose
- When you no longer have something you had before; can’t get back or find something you had;
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Hollywood actors and _____ are on strike. They are demanding better pay and job security as video streaming services and AI become more _____.
Because of the _____, many TV and movie productions have stopped. There are also people protesting _____ of the Netflix office in Los Angeles.
However, Netflix investors are not worried because _____ company has good shows that have already finished production. It also has an _____ production team which isn’t affected by the strike.
It _____ that Netflix has increased the number of new subscribers in the second _____ of this year, the most since 2020.
One of Netflix's strengths is its global content, which helped during the pandemic when people watched international shows like “Lupin” and “_____ My Agent!”
Netflix is also working on _____ people from sharing passwords, and made a cheaper plan with ads. This helped them get more subscribers.
Experts estimate that about 100 million _____ share Netflix passwords. They believe that around 50% of the households will create additional accounts because of the new password sharing rules.
_____ also think more people will sign up for the plan with ads and Netflix will _____ around $770 million from ads by the end of 2023.
The second quarter is usually weak for Netflix, but it is _____ to have gained around 1.77 million new subscribers. In the second quarter of 2021, Netflix _____almost 1 million subscribers.
Discussion questions
- What are your thoughts on Hollywood actors and writers demanding better pay and job security?
- How do you think the strike will impact the TV and movie industry as a whole?
- In your opinion, what makes Netflix a popular streaming service compared to others?
- How do you think the introduction of ads in Netflix's cheaper plan will affect user experience?
- Do you agree with Netflix's efforts to stop people from sharing passwords? Why or why not?
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