Los Angeles is in the midst of a once-in-a-generation moment.

Last year, Schroders Global Cities Index ranked Los Angeles as the most economically vibrant city in the world and the best city for investment. Our metropolitan economy is the world's third largest in economic performance. And in six years we have cut the unemployment rate by more than half.

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Less than a year after Disney took control of Hulu, its chief executive Randy Freer is stepping down in a move aimed at consolidating the streaming services operations with the entertainment giant's direct-to-consumer wing.

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Netflix is now the most nominated film studio at the Oscars. And Ted Sarandos, the streamer's content chief, is doubling down on his push to boost local-language content in the dozens of markets the media company operates in as a direct assault against competitors like Disney Plus, Amazon Prime, and Hulu.

"Our goal is not to just export Hollywood content around the world. We can find a good story from anywhere in the world and make it play anywhere in the world," Sarandos said Thursday at the Upfront Summit at the Rose Bowl, noting that even in the early days of mailing DVDs, the goal was to "take these underdeveloped films and give them a national platform."

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