Reed Hastings

Netflix launches in 130 new countries

Netflix has launched in 130 new countries including India, Nigeria, Singapore and Turkey, company CEO Reed Hastings announced at CES. In a keynote presentation at the Consumer Electronics Show in Las Vegas, Hastings said: “I am delighted to announce that while we have been here on stage at CES, we switched Netflix on in Azerbaijan, […]

Netflix’s Hastings says there is ‘not enough TV’

Netflix boss Reed Hastings has said there is not “nearly enough” TV content in the market, coming out in strong opposition to the likes of FX boss John Landgraf who has said there is a glut of programming that is causing a ‘malaise’ among viewers. The Netflix chief added that Netflix will be investing in more content […]

Netflix misses US sign-up targets in disappointing Q3

Netflix missed its US target for new customer sign-ups and reported lower than expected operating income in its third quarter results. The subscription video-on-demand service added 0.88 million new US members in the quarter, compared to 0.98 million prior year and a forecast of 1.15 million. Netflix attributed the over-forecast to “slightly higher-than-expected involuntary churn” […]

Netflix CEO: TV to go on-demand as internet transforms society

In the next 10 to 20 years all television will be on the internet, with the internet sector in general “transforming our society,” according to Netflix CEO, Reed Hastings. Speaking on CNBC’s Mad Money show, Hastings said that while cord cutting is still very small today, in the long term “it’s a worry” for the […]

Netflix pass 65 million subscribers, confirms China launch plan

Netflix passed the 65 million subscriber-mark in the second quarter and confirmed plans to launch in China next year as part of its ongoing expansion efforts. For three months ending June 30, Netflix said it added a record 3.3 million new streaming members – exceeding its Q2 forecast of 2.5 million net additions and almost […]

Internet TV to replace linear in 20 years, says Netflix

Over the next 20 years internet TV is going to replace linear TV as the way that people consume video, according to Netflix president and CEO Reed Hastings.  Speaking on the firm’s first quarter earnings call yesterday, Hastings said that after linear TV’s  “amazing 50 year run” the industry is now transitioning with “everyone scrambling […]

Netflix tops 60 million global members

Netflix has passed the 60 million-member mark after achieving “several major milestones” in the first quarter of the year.  Announcing its Q1 results, Netflix said it has now passed 40 million members in the US and 20 million internationally after adding 4.9 million new users in the quarter, beating its forecast of 4.1 million new […]

Netflix raises US$1.5 billion in debt with acquisitions in mind

Netflix is raising US$1.5 billion in new debt and will use the cash to buy content and for ‘potential acquisitions’. The US-listed streaming company announced late yesterday it was raising the cash, via a US$700 bond issue due in 2022 and another US$800 bond issue due in 2025. Netflix initially said it was raising US$1 […]

Netflix hits five million Latin America customers

Netflix hit five million Latin American customers in the fourth quarter of last quarter, from a total of 18.3 international streaming members, the firm has revealed.  Speaking on Netflix’s Q4 earnings call, chief financial officer David Wells said that the firm has seen steady growth in the market, but said with 65 million addressable homes […]

Netflix to complete global expansion in two years

Netflix has said it plans to complete its global expansion, while staying profitable, over the next two years, outlining plans to up its footprint from 50 to 200 countries.  In a letter to shareholders to announce its fourth quarter 2014 results, Netflix said that it plans to launch in Australia and New Zealand in late […]