Netflix's elevation of Ted Sarandos to co-CEO pushes company closer to its true home: Hollywood

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

By making Ted Sarandos his co-CEO, Reed Hastings is further emphasizing that Netflix is more of an entertainment giant than a technology company.

, which acquired HBO in its Time Warner deal two years ago, is now trying to turn HBO into something that resembles Netflix, broadening out HBO to HBO Max, a service that includes family shows and mainstream sitcoms.Where Netflix wants to avoid the media comparisons is on Wall Street.much more like a high-growth tech company than a content behemoth. With a market cap of over $230 billion, as of Thursday's close, it's now among the 20 most valuable U.S. companies.

Sarandos doesn't talk much about the stock price, but he can spend hours discussing Netflix's ability to invest so much more than anyone else on a film while still making it profitable. At an investor event with UBS in December, Sarandos described his work with Scorsese and "The Irishman," a three-and-a-half hour mobster film that was viewed by more than 26 million people in its first week.

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:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Hm. Maybe now netflix will give us a third and final season of Mindhunter since a content guy is co-CEO. (I wish!) The way they drop a show without any conclusion is a numbers guy move that doesn't take into account the ill will it creates towards the company.

सभी सनातनी भाई बहनों को जय श्री राम 🚩follow करेंगे क्या ?madhulikagupta2

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines