Published: Sat, June 03, 2017
Entertaiment | By Minnie Bishop

Net neutrality may have lost Netflix as an ally

Net neutrality may have lost Netflix as an ally

With all those original, successful shows in his armour, you would think that Netflix CEO, Reed Hastings, would be quite delighted with himself.

When asked about Amazon Prime Video, which is trying to recreate many of Netflix' initiatives, Hastings said, "Well, they are so scary".

"We're continuing to watch them and be impressed with them", Hastings said in an interview on CNBC's "Squawk Alley" Wednesday. "As a leader, you want to drive people to take more risks". "Because we should have a higher cancel rate overall, '" Hastings explained.

"You get some winners that are just unbelievable winners, like '13 Reasons Why.' It surprised us. There are so many great shows on Netflix, but there are so many great shows we don't have", said Hastings. "They're trying to be Walmart".

Netflix CEO Reed Hastings made it abundantly clear that the company isn't going to rush to consumers aid as the FCC prepares to gut net neutrality.

He also pointed out that it will continue spending money on original content beyond the $6 billion it dished out this year. It's not that Hastings wants Netflix to purposely make shows that are unsuccessful, though.

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"As we grow the membership, we want to grow the content budget".

Despite being founded two decades ago, Netflix did not come into prominence until the last few years when they started to expand to produce their own content starting with the Kevin Spacey-starrer House of Cards.

Netflix's next big show: GLOW, which will premiere this summer from Orange Is the New Black creator Jenji Kohan.

Hastings went on to add that content acquired by Netflix is "fundamentally a creative bet". "There are so many great shows on Netflix, but there are so many great shows we don't yet have". "Sometimes the establishment is clumsy when it tries to shut out the insurgent, and then the insurgent's role is to play that up, which we did". He said that Netflix has no plans to stream sporting events, even as rivals like Amazon, Twitter, and Facebook sign streaming deals with major sports leagues like the NFL, NBA, and MLB.

Hastings pointed specifically to Amazon's move into live sports, with the company signing a deal to stream Thursday night National Football League games in the upcoming season. "It's a mix [of viewers and subscriber growth]". Netflix and its ilk won a major battle previous year when an appeals court upheld new FCC rules that would try to keep the Internet unfettered.

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