A decade later, Netflix is not Albania. It’s imperial Spain during el Siglo de Oro. Massive, relentlessly mercantile and ruthlessly acquisitive, Netflix has rippled over the world to become one of the largest media businesses ever known. Count the hundreds of millions of subscribers, or the billion-dollar content deals. The old Hollywood system, the studios, the cinema chains — an entire infrastructure of production — has been torched and replaced by Netflix’s subscription-based streaming model. Its major competitors are all imitators: Hulu, Disney+, Apple TV, HBO Max and Amazon Prime Video.

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