Netflix CEO Says Company Has ‘Improved Television’ and Is ‘Concentrating’ More on Original TV Than Film For A Reason
Zack Sharf
Reed Hastings, Netflix co-founder and CEO, doesn’t like to refer to the streaming giant as a “revolutionary” when it comes to distributing content, although he does believe Netflix is serving a fundamental role in how consumers engage with film and, more specifically, television. Speaking to Business Insider, Hastings called his company “evolutionary” in improving television.
“It’s much more evolutionary than revolutionary,” Hastings said about Netflix’s distribution model. “‘Revolutionary’ would be more like YouTube with its open platform. And there’s good and bad in revolutions. I would say we’ve much improved television. People still watch 45-minute shows on television, but now on Netflix. That’s not a huge revolution — but that’s a big improvement and that’s important.”
Hastings went on to explain that streaming television is more attractive to consumers than streaming films, which is why Netflix is focusing a bit more on original television programming than its original film slate. When asked why Netflix “concentrates” more on film than television, Hastings said it all had to do with the serialized nature of TV.
“On the internet, you can catch up easily with the old episodes. You’ve heard about ‘La Casa de Papel’ and you can watch the show quickly,” Hastings said. “For serialized content the internet is fantastic. It’s like a ten times better experience than when it’s only at Sundays at 8 o’clock on linear. But for movies, it’s only a little bit better. You’ve got things like pay-per-view, etc. On Netflix however, it’s all flat-fee, so it’s a little bit nicer. But it’s not a revolution in the movie experience.”
Hastings said that there is no limit to how many investments Netflix will make to new shows in the future. He said the plan is to continue growing the company’s original TV programming, noting that “investors like it because the consumers like it.”
When asked which Netflix original series has been his favorite, Hastings responded: “The End of the F**cking World.”
“It’s different. It’s like something that I’ve never seen before,” Hastings said. “You really don’t like the characters at the beginning — at least I didn’t like them. They were weird. And then you really start to grow into liking them, and at the same time, they grow into liking each other.”
Netflix has not confirmed plans for a second season of “The End of the F**cking World.” The show is one of numerous word-of-mouth TV hits for the streaming giant in 2018, with other titles being “Altered Carbon,” “Wild Wild Country,” and “On My Block.”
