Netflix will probably be canceling more shows, CEO says

Netflix CEO on streaming battle: We're like Starbucks, and Amazon is like Walmart

Netflix CEO Reed Hastings thinks of Amazon as an "awfully scary" rival and he no longer views the net neutrality debate as a "primary battle" for his popular streaming company.

Hastings also said Amazon is "awfully scary" in response to a question about the company buying National Football League streaming rights for a reported $50 million. Both shows were very buzzy online and had impressive people behind-the-scenes, with The Matrix's Wachowski siblings working on Sense8 and The Great Gatsby's Baz Luhrmann leading The Get Down. I'm always pushing the content team: We have to take more risk; you have to try more insane things. "Because we should have a higher cancel rate overall, '" Hastings explained.

"It's not narrowly important to us because we're big enough to get the deals we want", Hastings said.

Still, it's unclear from this one interview if pre-existing shows on Netflix are more in trouble than before; maybe it's just that Netflix won't approve some truly ridiculous new shows? "They are trying to repeal the basic laws of business".

During an appearance on CNBC, Hastings was asked about some of the company's notably expensive investments-a reported $120 million on the first season of The Get Down; a reported $90 million on the first season of Marco Polo, among others-and the methodology behind them, since Netflix famously does not disclose its viewership data to the public. According to J.P. Morgan estimates, Amazon's video content budget for 2017 is about $4.5 billion while Netflix is willing to spend $6 billion on content in 2017.

More news: Man United: Jose turns to Ajax
More news: Blast kills 80 in Kabul embassy area
More news: Iran will continue missile programme, says Rouhani

That would seemingly make Netflix and Facebook competitors, and put Hastings, who is on Facebook's board of directors, in a tight spot. Hastings told CNBC that Netflix's content budget is going to keep increasing "a lot" as the company's membership keeps growing, with Netflix nearing 100 million global subscribers.

"Never has there been a more truly global show with an equally diverse and worldwide cast and crew, which is only mirrored by the connected community of deeply passionate fans all around the world".

"There's not a big conflict yet", Hastings said Wednesday at Recode's annual Code Conference.

Netflix once stood alongside internet giants like Google, consumer advocates and Democrats in pushing for harder rules that ensured internet providers treated traffic equally. Hastings said what Netflix won't try to do is to move into multiple businesses the way Amazon has. "What we have to do is be the speciality play; we are trying to be Starbucks and they are trying to be Walmart".

Related:

  • White House official: Trump expected to pull US from Paris deal

    A White House official says Trump's expected to withdraw the United States from the landmark agreement. But this much is already clear: Trump's administration will not actively work to stop climate change.

    Putin Echoes Trump Argument On Russia Investigation: It's Dems' 'Fiction'

    As Putin stepped out of his vehicle , many people pulled out their cameras to capture the greeting between the two leaders. He took aim at the Russia Today broadcaster and Sputnik agency, calling them " organs of influence and propaganda".
    Alleged Australian cop killer Rick Maddison gunned down by police

    Alleged Australian cop killer Rick Maddison gunned down by police

    Much is often said about the difference in police use of force in the United States and other countries, including Australia. He said the incident again showed how "complex and risky the job of policing is in this state and our nation".
  • White House Won't Confirm Or Deny Trump's 'Covfefe' Tweet Was A Typo

    Of those surveyed, 42 percent said Spicer hurts rather than helps, and 28 percent said he helps Trump when he addresses the media. The equally confusing White House explanation was too late to head off a some mercilessly fun at the 45th president's expense.
    Oil drifts below US$50 as market pessimism over OPEC deal lingers

    Oil drifts below US$50 as market pessimism over OPEC deal lingers

    Brent for July settlement was 11 cents lower at US$52.04 a barrel on the London-based ICE Futures Europe exchange. Oil traded below US$50 a barrel after OPEC underwhelmed investors with its production-cut extension deal.
    Iranian President Calls US Relations 'A Curvy Road'

    Iranian President Calls US Relations 'A Curvy Road'

    It was an enlightening conference, showcasing how little he really intends or is able to create real change in Iran. The measure also would apply terrorism sanctions to the country's Revolutionary Guards and enforce an arms embargo.
  • Comey OK'd to testify; House committee issues subpoenas

    Comey OK'd to testify; House committee issues subpoenas

    He did not immediately respond to a request for comment Wednesday about the House committee's latest action. Flynn's cooperation was the first signal that he and the Senate panel have found common ground.
    Check gseb.org for Gujarat GSEB Class 10th results 2017

    Check gseb.org for Gujarat GSEB Class 10th results 2017

    Most of the schools are affiliated to GUJARAT and the Class 12th examinations are conducted by the Board every year. Gujarat Secondary and Higher Secondary Education Board is an autonomous board under Education Department.
    Wawrinka storms back to win Geneva tournament

    Wawrinka storms back to win Geneva tournament

    Defending champion Stan Wawrinka advanced to the Geneva Open final by beating unseeded Andrey Kuznetsov 6-3, 7-6 (4) on Friday. He will next face Germany's world No. 33 Mischa Zverev , who defeated fifth-seeded American Steve Johnson 6-4, 7-5.
  • Lebanon bans the new

    Lebanon bans the new "Wonder Woman" movie

    Gadot also commented on how she felt privileged to play the iconic heroine when asked about the pressure of the playing the role. Jenkins saw the photo and described it as "wonderful". "It wasn't masculine at all - it was completely different and unique".
    Russia Fires Cruise Missiles, Targets ISIS Positions in Syria

    Russia Fires Cruise Missiles, Targets ISIS Positions in Syria

    At least 1,000 ISIS militants were killed or wounded in the offensive, according to the Russian Ministry of Defense. Russian warplanes reportedly bombed ISIS targets near Syria's Palmyra with Kalibr cruise missiles on Wednesday.

    Eurozone mulls Greece debt relief plea

    Le Maire says it's "important there be a solution that reassures the Greek people and of course reassures Greece's creditors". As of now, the country has completed 110 of the 140 measures, EU Economic Affairs Commissioner Pierre Moscovici said .

Comments

Latest news

CNN fires comedian after Trump stunt
Griffin has since issued a public apology, conceding that the photos were "too disturbing". "I told her there is no place in our discourse for an image like this".

Donald Trump's Middle East Comment in Israel
Trump received a warm welcome in Tel Aviv after becoming the first U.S. president to include Israel on his maiden overseas trip. Analysts and commentators were left Wednesday wondering what, if anything, Trump might do to resolve the decades-old conflict.

Russians claimed to have 'derogatory' information on Trump, aides: CNN reports
But still, it means the foreign power was interested in meddling with our elections and having some control over the man who is now president.

Donald Trump Delays Moving Embassy in Israel to Jerusalem
The longstanding US position is that Jerusalem's fate must be worked out through Israeli-Palestinian negotiations. Embassy in Israel from Tel Aviv to Jerusalem , something many Israelis want.

3 men found shot dead at East Texas car dealership
The men fought as Hutchinson retrieved his weapon and began firing. About 20 shots were fired in about 6 seconds. Police said two men with F.N.G.

Wisconsin's most misspelled word is ... Wisconsin
For the first round, the students had an idea of the word they would be getting which judges chose from their study guide. She said she felt more comfortable taking the hourlong, 26-question written test than she did in the 2016 bee.

Svitolina breezes past Shvedova at French Open
British number one Johanna Konta suffered a shock defeat by world number 109 Hsieh Su-wei in the first round of the French Open . His best result at the French Open was reaching the semifinals in 2009, just months before he won his Grand Slam title in NY .

Cop who killed Tamir Rice fired for job application omission
The officers' union said it was challenging the discipline, while Tamir's mother said both officers should have been fired. The city paid a $ 6 million settlement to Tamir's family following his death.

LeBron James not ready to discuss Warriors yet: 'It's too stressful'
The problem is you're giving LeBron seven free points when there's a long history of his teams stealing one of the first two games on the road to start a playoff series.

To many Americans, Memorial Day has lost its meaning
They will be remembered during an event at 10 a.m. today at Oak Hill Cemetery hosted by Lawrence's American Legion Post. The Legion and Lower Burrell Veterans of Foreign Wars Post 92 switch off parade duties every year, Zdila said.

President Trump hails the fallen and their families at Arlington
The president participated in the somber, annual observance at Arlington National Cemetery. Trump also paused to talk to a young boy dressed in a crisp Marine uniform.

54 dead, some 10000 migrants rescued off Libya coast in 4 days
Smugglers send them out in flimsy boats with little fuel, and most are picked up by worldwide vessels after leaving Libyan waters. The people were traveling on five wooden and 10 rubber boats from Libya to Italy, according to the authority.

Leicester City fret as West Ham bids £24m for Iheanacho
The Hammers have also been linked with Chelsea striker Michy Batshuayi as Slaven Bilic looks to add more firepower to his squad. The report does not state the amount offered for Iheanacho, although it is thought that City value the forward at around £20m.

Trump accuses media of fabricating news
Jared Kushner is understood to be under scrutiny by the FBI as part of its wider investigation into Russian links. Seemingly unable to control the leaks within his own White House, Mr.

Philippines says militants shot dead at least 16 civilians
President Rodrigo Duterte announced Tuesday he was imposing a 60-day period of martial law in the southern Philippines . Onlookers take photos of the bodies of eight men found shot dead in Marawi .

Other news