. Those companies have begun attempting to turn themselves into entities that look more like Netflix in recent years with the development of global streaming services such as Disney+ and Starz. So far, investors have balked at giving traditional entertainment companies the same valuation multiple as Netflix.
Still, Hastings said it was possible for traditional media companies to compete with Netflix -- if they're willing to focus completely on streaming. He applauded Disney for while noting WarnerMedia did not put its new blockbuster "Tenet" directly on HBO Max. It remains to be seen if either company will continue to put new movies directly on streaming services after pandemic quarantines are lifted across the globe.
"All it takes is focus and commitment," said Hastings. "Let's look at Warner. They did not put 'Tenet' on the HBO Max service, but Disney did put 'Mulan' on it. So you'd say Disney's incrementally more committed to their service than Warner. So it's a matter of degree. I'm sure they have good reasons in those cases. We'll see."
Hastings also predicted traditional media companies will continue to consolidate in an effort to compete with Netflix, such as Disney's acquistion of the majority of Fox and Viacom's merger with CBS. "I think you'll also see continued combinations of the existing players, just like you saw with Fox and Disney coming together," Hastings said. "Typically you bulk up to take on the other guys."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
$NFLX is making a huge mistake not going after TikTok, especially in light of their CEO attempting to veils them as an “entertainment company.” Micro content creators will dominate the future of entertainment.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix CEO Reed Hastings shares the management books that inspire him - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Are you looking for a unique modern branding logo design and business card Design? Then You can contact me. Can anyone tell me the book. I ain’t paying for that subscription bullshit There is a split among entrepreneurs on whether business books are worth it. Elon Musk and Peter Thiel don't read them. I suspect there are other, better ways to get at the knowledge business books are supposed to convey.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Netflix co-CEO Reed Hastings: Our company culture 'gets better as we get bigger'Netflix is growing its subscribers fast in 2020 than any year in its history. According to co-founder and co-CEO Reed Hastings, the company culture has enabled Netflix to grow the way it has over time. CNBC's Andrew Ross Sorkin spoke with Hastings about how Netflix has maintained its culture as the company has grown over the years. andrewrsorkin Let’s wait till we have a vaccine...... andrewrsorkin Maybe Netflix should consider “in-person” movies 🎥 instead of watching from home? andrewrsorkin Modality
Source: CNBC - 🏆 12. / 72 Read more »
Netflix co-CEO Reed Hastings on the growth of FAANG stocks during the pandemicFAANG stocks have had a remarkable run since the pandemic that has slowed in a the last couple of sessions. CNBC's Andrew Ross Sorkin asked Netflix co-CEO Reed Hastings what he thinks about when he looks at the markets and the valuations of technology stocks, including Netflix. Translation: SELL WHILE YOURE AHEAD you greedy mongrels I'm adding FAANG to my muted words list. Great guest for CNBC - someone who doesn’t want to talk about the markets.
Source: CNBC - 🏆 12. / 72 Read more »
Netflix offices won't reopen until 'majority' vaccinated, CEO says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »