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Hollywood ‘Gets Thrown Under the Bus’ in U.S. Trade Deals, Netflix’s Ted Sarandos Says
Ted Sarandos, co-CEO of Netflix, said the entertainment industry "certainly gets overlooked" in U.S. trade deals.
Sarandos noted that Netflix announced a$1 billion investment in Mexico ‘s entertainment industry during a press conference with Mexican President Claudia Sheinbaum in February. At the Semafor conference, Sarandos reiterated the point: “To be clear, the trillion-dollar [valuation] is a long-term ambition — it’s not a guidance.” Smith asked whether Netflix needs to enter a new line of business, like theme parks, to hit that target. Netflix’s earnings beat for Q1 came amid broader fears of a looming economic downturn that could deliver a punch to consumer spending and ad budgets.
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