Why Netflix Isn't Getting Involved In Live Sports Streaming Like Amazon

03 June, 2017, 02:01 | Author: Evan Mason
  • Netflix CEO on streaming battle: We're like Starbucks, and Amazon is like Walmart

A week after shuttering Baz Luhrmann's lavish hip-hop drama The Get Down, Netflix company founder and CEO Reed Hastings made a rare television appearance to explain why cancellations are not only healthy for the company but necessary in its aggressive pursuit of unprecedented success. "I mean, everything Amazon does is just so wonderful". "I mean, it was a great show, but we didn't realise just how it would catch on". "Because we should have a higher cancel rate overall".

Netflix has axed another show. "We're trying to be Starbucks", Hastings told Recode's Kafka, arguing that Amazon is trying to deliver more types of content to a wider range of audiences.

According to Hastings, the increase in recent cancelations is on goal. While Netflix has previously suggested that keeping and increasing subscriber counts were its most important metrics, Hastings on Wednesday seemed to say eyeballs mattered. Netflix, which has extended its reach across 190 countries, has been a vocal proponent of Net Neutrality rules in the past, but Hastings believes it's not their fight anymore. It's like they are trying to repeal the basic laws of business ...

"We're not trying to meet all needs", Hastings said. "So even if the formal framework gets weakened", he continued, "we don't see a big risk actualizing, because consumers know they're entitled to getting all of the web services". According to him, the industry is growing as people want to watch on-demand. Much like Netflix, Amazon has been acquiring rights to original TV shows and movies in recent years, though it's still expected to spend about $1.5 billion less on original content than Netflix's expected $6 billion this year.

"If we try to out-Amazon Amazon, then that's a losing battle", he detailed.

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Since it moved into content production, the company has developed a reputation for giving creative teams more freedom than traditional broadcasters.

Cannes should focus on the artistic quality of movies, instead of being influenced by the politics and commercial leanings of festival's board of directors, Hastings said at the Code Conference.

"What we have done is kept our base price $7.99", he said.

France in particular has a rule that states movies that play in theaters must wait three years before they can pop up on a streaming platform.


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