The next big thing about to happen according to Reed Hastings, chief executive officer, president, and chairman of the largest video streaming services firm in the United States Netflix, Inc., is that in the next 10 to 20 years, all of television will be internet. The chief executive officer of the streaming media firm has to say in an interview with CNBC’s Jim Cramer on September 20, 2015.
Mr. Cramer got an opportunity to interview the CEO and Chairman, ask him about the present environment of the internet, discuss the rapid growth of Netflix and its services, and talk about the plans of the video streaming company.
CNBC’s Cramer emphasized on the fact that Netflix, Inc. has grown quite a lot since its inception, since the time it started over 13 years ago; the shares of the media streaming company were at 85 cents while now it stands at $102 as of Friday, September 18, 2015.
The CEO stated that the internet is changing the many different sectors of the economy specifically the internet TV sector, which Netflix is. This sector of internet TV has grown over the period of 15 years and has created quite a significant effect in that time.
Due to these reasons, the CEO predicted that ‘all television will be internet in the next 10 to 20 years’, he further added that he had foreseen that the internet industry will be a fast growing industry back when he initiated the video streaming services company. His confidence laid in the fact that he had observed the experience that was provided to the consumers by the internet and it was then that he knew it would go far.
He also commented on the original programming of the streaming media player and stated that Netflix is just a ‘learning machine’ as every time the firm introduces a new show to its subscribers, it analyzes the show, the viewer’s reaction, observe what worked for them and what didn’t so that they can make improvement in their next launch. In addition to the growth of the firm, it has been the best performer in the S&P 500.
Disney, however, reported that it lost a number of subscribers as most of the viewers are cutting cable cords and moving towards streaming media internet services such as Netflix, Hulu and Amazon.
While in other news, Netflix has been nominated for 34 Emmy Awards this year and won only 4 out of those 34 categories. These four winners included Orange is the New Black’s Uzo Aduba, ‘House of Cards’ won two Emmys and Virunga, Netflix’s original documentary won an Emmy for Outstanding Music Composition.