Around noon on Wednesday, March 16, hundreds of Netflix Inc. employees gathered on the second floor of the Anaheim Hilton Hotel expecting to hear good news. The company had thrived during the pandemic. It added 36.6 million customers in 2020, a record, and its aggressive investment in original content paid off in 2021 with the French crime show Lupin and the South Korean thriller Squid Game, two of its most popular programs ever. Netflix had also broken through at Hollywood’s biggest awards shows, winning two of the top three Emmys and receiving 27 Oscar nominations, the most of any company. A couple of years into the streaming wars, it looked as if Netflix had not only survived but emerged stronger.
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