'WHEN YOU HAVE THE BEST CONTENT, YOU CAN GROW A LOT'
Business Today|October 03, 2021
OVER THE PAST two decades, Founder and Co-CEO Reed Hastings has shaped Netflix from being a DVD rental service to a $270-billion market cap entertainment powerhouse, in the process of transforming how the world consumes video entertainment.
Udayan Mukherjee
'WHEN YOU HAVE THE BEST CONTENT, YOU CAN GROW A LOT'

But while the pandemic came as a huge boost for its business, the terrain is turning trickier as consumers experience home viewing fatigue and rivals with deep pockets such as Disney, Amazon and HBO train their guns on this huge market. In India too, Netflix faces significant challenges from Amazon Prime and Disney+ Hotstar. Hastings talks to BT’s Global Business Editor Udayan Mukherjee about streaming, competition, movies, and the India journey, among other things. Edited excerpts:

UM: I want to start from the beginning, Reed. Could you tell viewers in India how the idea of Netflix, one so simple yet transformative, was born in your head?

RH: Yes, a long time ago I used to go and rent a VHS cassette. There was this great movie—Apollo 13, and I forgot all about it for a month and totted up this astronomical late fee of $40! And I felt so stupid. A year later, a friend told me about a DVD, this beautiful, sleek little thing. And I thought, oh my gosh, can you mail this thing to people? It turned out we could and, lo and behold, our business of Netflix began in 1999 as a DVD rental service. So that is our lucky late fee story that got us started!

UM: That’s an amazing way to start one of the most defining stories of our times. But the Netflix story got a massive boost from the pandemic as people stayed home and consumed your content. Now, as things normalize, there is an attention recession and viewer fatigue is creeping in. How badly could this slow you down?

هذه القصة مأخوذة من طبعة October 03, 2021 من Business Today.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة October 03, 2021 من Business Today.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS TODAY مشاهدة الكل
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 mins  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 mins  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 mins  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 mins  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 mins  |
November 24, 2024