The hidden side of politics

Netflix CEO says the ‘streaming wars’ are good for business

Reported by CNBC: 

Netflix CEO and founder Reed Hastings

Joan Cros Garcia | Corbis | Getty Images

Netflix CEO Reed Hastings doesn’t seem too worried about the influx of competitors into the streaming industry.

A phenomenon that has been dubbed “the streaming wars” is a hot topic in the entertainment world. As Disney, NBC and WarnerMedia, among others, gear up to launch their own standalone streaming services, analysts have questioned if Netflix will take a hit.

Hastings said Wednesday these streaming wars are a good thing.

“The advantage of having something be catchy like ‘the streaming wars’ is that it draws more attention, and because of that, consumers shift more quickly from linear TV to streaming TV,” Hastings said during the company’s earnings call Wednesday.

After the company’s second quarter earning report Wednesday, shares of the company fell more than 10% as Netflix revealed global net adds of 2.7 million, well below its guidance of 5 million. Still, Netflix forecast 7 million global paid net adds for the next quarter.

The company blamed price hikes and a lackluster slate of new content for the lower-than-expected subscriber growth. However, Netflix has said that the third quarter’s content, including the recently released third season of “Stranger Things,” will help turn the tide.

Netflix has acknowledged it will soon lose two of its most-watched shows, “The Office” and “Friends,” but that not having these costly programs will free up the company’s budget and allow it to spend more on its own original content.

“I think everybody gets that people will subscribe to multiple [platforms],” Hastings said. “I’d wager that most Netflix employees are HBO subscribers. We love the content they do and that spurs us on to want to be even better.”

“Competition grows the industry,” he said.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.

Source:CNBC

Share

41 Comments

  1. Discover More Reply

    I simply want to say I am new to blogging and site-building and certainly loved your blog site. Most likely I’m going to bookmark your site . You surely come with terrific articles and reviews. With thanks for sharing your website page.

  2. series24 Reply

    It is in point of fact a nice and helpful piece of information. I am glad that you just shared this useful info with us. Please keep us up to date like this. Thank you for sharing.

  3. nba live stream free Reply

    I have not checked in here for a while since I thought it was getting boring, but the last few posts are great quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂

  4. Sbobet Indonesia Reply

    My spouse and i got so fortunate Louis managed to deal with his research from your precious recommendations he had from your own web page. It is now and again perplexing just to choose to be handing out secrets that many others might have been making money from. Therefore we recognize we need you to be grateful to because of that. All of the explanations you made, the easy web site menu, the friendships your site make it easier to engender – it is mostly astounding, and it’s really aiding our son and our family do think this content is excellent, which is extremely pressing. Many thanks for all the pieces!

  5. Berry Ravenelle Reply

    I’ve been exploring for a little bit for any high quality articles or weblog posts on this kind of area . Exploring in Yahoo I ultimately stumbled upon this web site. Studying this info So i am satisfied to convey that I’ve an incredibly good uncanny feeling I discovered just what I needed. I so much no doubt will make sure to don’t put out of your mind this website and give it a look a relentless basis.

  6. Allentown Pennsylvania divorce Reply

    Thanks for the sensible critique. Me and my neighbor were just preparing to do some research on this. We got a grab a book from our local library but I think I learned more from this post. I’m very glad to see such wonderful info being shared freely out there.

  7. Aretha Iguina Reply

    There are a few intriguing points over time in this post but I don’t determine if I see all of them center to heart. There is certainly some validity but I’m going to take hold opinion until I take a look at it further. Great post , thanks so we want far more! Added to FeedBurner in addition

  8. DC lash bar Reply

    My spouse and I stumbled over here different website and thought I may as well check things out. I like what I see so i am just following you. Look forward to looking over your web page again.

  9. https://www.faytech.us Reply

    Faytech North America is a touch screen Manufacturer of both monitors and pcs. They specialize in the design, development, manufacturing and marketing of Capacitive touch screen, Resistive touch screen, Industrial touch screen, IP65 touch screen, touchscreen monitors and integrated touchscreen PCs. Contact them at http://www.faytech.us, 121 Varick Street, New York, NY 10013, +1 646 205 3214

  10. SapidAgency.com Reply

    Sapid Agency is a Search Engine Optimization company in New York City that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in NYC and many other local areas. Find more at https://www.sapidagency.com/ @ 145 E 57TH NEW YORK, NY 10022, USA, +1 971 341 5608 USA

  11. The park at 14th Reply

    Thank you a bunch for sharing this with all of us you actually recognize what you’re talking approximately! Bookmarked. Please additionally seek advice from my website =). We may have a hyperlink trade arrangement between us!

  12. DC furniture installers Reply

    It’s the best time to make some plans for the future and it is time to be happy. I have read this post and if I could I desire to suggest you some interesting things or advice. Perhaps you can write next articles referring to this article. I want to read more things about it!

  13. vpn Reply

    Thanks for some other wonderful post. The place else may anybody get that type of info in such an ideal manner of writing? I’ve a presentation subsequent week, and I’m at the look for such information.

  14. site Reply

    I absolutely love your blog and find nearly all of your post’s to be exactly what I’m looking for. can you offer guest writers to write content in your case? I wouldn’t mind publishing a post or elaborating on some of the subjects you write about here. Again, awesome website!

  15. DC african Reply

    certainly like your web site but you need to test the spelling on quite a few of your posts. Many of them are rife with spelling problems and I in finding it very bothersome to inform the reality then again I¡¦ll definitely come again again.

  16. large wall clocks Reply

    I have been exploring for a little for any high-quality articles or blog posts on this sort of area . Exploring in Yahoo I at last stumbled upon this site. Reading this info So i am happy to convey that I have a very good uncanny feeling I discovered just what I needed. I most certainly will make certain to do not forget this web site and give it a glance regularly.

  17. DC Movers Reply

    It’s really a great and helpful piece of information. I am glad that you shared this helpful info with us. Please keep us up to date like this. Thank you for sharing.

  18. betgram Reply

    I have been exploring for a little for any high-quality articles or blog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this site. Reading this information So i’m happy to convey that I have a very good uncanny feeling I discovered exactly what I needed. I most certainly will make sure to don’t forget this web site and give it a glance on a constant basis.

  19. mobil bahis giris Reply

    I am extremely impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one today..

  20. Upper marlboro braiding salon Reply

    Hi, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam remarks? If so how do you protect against it, any plugin or anything you can recommend? I get so much lately it’s driving me mad so any support is very much appreciated.

Leave a Reply

Your email address will not be published. Required fields are marked *

FOLLOW @ NATIONAL HILL