How CEO Reed Hastings disrupted the subscription-entertainment industry and built a $170 billion empire
By many accounts Reed Hastings had lost his mind. The year was 2011, and the Netflix cofounder and CEO had just made a decision that cost him 800,000 subscribers in one quarter. The company’s stock price plummeted 35 percent. The market was punishing Hastings’ company for raising its subscription prices 60 percent and splitting the streaming and DVD-delivery service into two separate subscriptions. Pundits questioned Hastings’ fitness for the job. The Huffington Post called the move “monumentally stupid.” A headline on Mashable compared it to the New Coke debacle.
This was what anyone would call, in polite terms, a teachable moment, and Reed Hastings was the rare leader who possessed the intelligence and humility to be taught. Within a month he had reversed the decision to split the service in two, but he kept the price hike. It turned out to be the right move: Change course, but preserve the objective. At the time, Netflix stock was trading at $77.50 a share. Today it’s worth $400.
هذه القصة مأخوذة من طبعة September/October 2018 من Maxim.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة September/October 2018 من Maxim.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
WATER WORLD
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THE 2024 MAXIM HOT 100
What does it mean to be hot? Maxim's eagerly anticipated Hot 100 portfolio asks just that, charting the individuals who are blazing a trail in entertainment, fashion, sports and pop culture. Not only are these world-class stars soaring high, breaking ground, smashing records and inspiring future generations with their inimitable talent and determination, they're doing it all while emitting a sizzling, sparkling energy that leaves us in awe. Read on with caution: These names are on fire right now!
Class Act
If you're looking for Elizabeth Hurley, check the garden. A longtime staple of screens, glossy magazine spreads and red carpetsparticularly since one unforgettable gown sent her profile stratospheric in 1994-one might be surprised to learn that she has quite the green thumb
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A new exhibition and book show why Danish-born photographer Mare Hom is destined for greatness
TURKISH DELIGHT
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MONDO DINO
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SPORTS STAR
A conversation with Meg Stewart, Division 1 soccer player-turned-sports and talent agency president
