FT News Briefing Chill out. Netflix is winning the streaming wars
9 snips
Feb 9, 2024 Ukraine's President dismisses his top commander amid rising tensions with Russia. In Gaza, a humanitarian crisis unfolds as civilians flee to Rafah under military threat. OpenAI is projected to reach $2 billion in revenue, showcasing its rapid growth in AI. Meanwhile, Netflix appears to be winning the streaming wars as competitors like Disney and Fox collaborate, hinting at potential consolidation in the industry for stronger profitability.
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OpenAI's Revenue Growth
- OpenAI, the creator of ChatGPT, is projected to reach $2 billion in revenue this year.
- This rapid growth is driven by widespread demand for AI tools in the workplace.
Crisis in Rafah
- Rafah, a town in Gaza, has become the last refuge for displaced people.
- Overcrowding and limited resources have created dire conditions, and further attacks are feared.
Netflix Dominates Streaming
- Netflix is winning the streaming wars, boasting impressive subscriber growth and profitability.
- Other streaming services like Disney are struggling, reporting operating losses and slower growth.