Reed Hastings

Netflix co-CEO added to Russian blacklist

Netflix Co-CEO Reed Hastings has been named on Russia’s blacklist. Russia’s Ministry of Foreign Affairs announced on Monday that it had added 61 US citizens to its list of people who are “banned indefinitely from entering the Russian Federation,” with Hastings being the highest-profile figure on the list.  Other noteworthy figures on the list includes […]

Reed Hastings exercised over US$600 million from Netflix stock options in 2020

Netflix co-CEO and founder Reed Hastings exercised US$612 million from stock options in 2020, a new filing has revealed. The streaming leader enjoyed a stellar 2020 in which it surpassed 200 million subscribers globally, and the founder has benefited from this success with Netflix’s shares rising more than 67% during the year.  According to Netflix’s […]

Netflix overachieves on subscriber growth as competition begins to bite in US

Netflix has reported a strong end to 2019, adding 8.8 million paying subscribers, well ahead of its forecast of 7.6 million. However, in a sign that the competitive landscape is changing, the vast bulk of its net adds came from its international operations, particularly EMEA, with the US subscriber base growing by only 420,000 compared […]

Netflix plans big boost to content spend in India

Netflix is on track to spend INR30 billion (€380 million) on producing and licensing content for the Indian market over the coming year, according to the streaming giant’s CEO Reed Hastings. Hastings, speaking at the HT Leadership Summit in the Indian capital, said that viewers in India would be able to see “a lot of […]

Netflix shares set for worst quarter in seven years

Netflix’s shares took another tumble on Tuesday, setting the company on course for its deepest quarterly decline since 2012.  The streamer’s stock price dropped nearly 4% after two analysts further highlighted the threat of the upcoming Disney+ to Netflix’s market share.  Pivotal Research drastically cut its price target for Netflix’s stock from US$515 to US$350, […]

Netflix CEO admission causes stock to plummet

Shares in Netflix took a nosedive following CEO Reed Hastings’s admission that Disney+ and Apple TV+ will provide the company with additional competition. The statement, made while speaking at the Royal Television Society conference in Cambridge, is not surprising to anyone following the industry, but it was evidently enough to spook shareholders as the price […]

Netflix’s Hastings says no to joining Apple service

Netflix CEO Reed Hastings has confirmed that Netflix will not be part of the new Apple streaming offering, details of which are expected to be unveiled next week. Speaking at a press event, Hastings said that Netflix’s goal was to have people watch its content on its own service, and that the streaming giant would […]

Netflix set to ramp up European production

Netflix is set to increase the number of European titles it produces by a third in 2019, according to the Financial Times. Erik Barmack, Netflix’s VP of international originals, revealed to the publisher that the streamer will take on 221 projects in the new year, including 153 originals. Netflix is already on track to deliver 141 […]

Netflix’s Hastings expects US$15bn in subscriber fees this year

Netflix CEO Reed Hastings has said that Netflix is likely to earn around US$15 billion (€12 billion) in subscription fees this year by holding to its strategy of delivering original content. The streaming giant told Nikkei Asian Review reporters, who first reported the story, that the company’s guiding principle is turning subscribers “hard-earned money” into […]

Netflix targets India for next wave of growth

India will be a major driver for Netflix’s future growth with the company already benefitting from low internet costs and the expansion of 4G in the country, according to CEO Reed Hastings. Speaking at the Economic Times Global Business Summit in New Delhi, Hastings reportedly told attendees that while Netflix’s global subscriber base currently stands […]

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