His statement definitely has a certain weight, but maybe it’s not very objective. The founder of the world’s largest streaming service Netflix, Reed Hastings, who is named after himself, was spoken this week. The 61-year-old entrepreneur, who co-founded the platform with Marc Randolph in 1997, spoke on the sidelines of his group’s presentation of quarterly results.
If that’s not good, Reed Hastings still thinks streaming is the future of the small screen, as Netflix has suffered an unprecedented loss of 970,000 subscribers in the last three months. “The end of linear television is very clear in the next 5 or 10 years,” he says confidently. He says the era of TV shows, where viewers had to be on time to not miss their movies or shows, is almost over.
“In the United States, one of the world’s most competitive markets, we attracted more TV viewers for the 2021-22 television season than any other traditional channel. Our viewership nearly matches the sum of the two most-watched broadcast networks in America. As Nielsen will announce on Thursday, our US television audience share hit a record 7.7% in June. (compared to 6.6% in June 2021)demonstrating our ability to increase our participation as we continue to improve our service“He continues in that direction during a letter from Hastings to the main shareholders.
To make up for the loss of subscribers, Netflix will offer a cheaper service to attract new customers in 2023, but with advertising included. An attempt that should damage television channels.
Thibaut Falconnat
Source: Programme Television
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
