Netflix CEO Reed Hastings Talks Streaming Wars, Apple TV+, Disney + and more | DealBook

Founder and C.E.O. Netflix Reed Hastings talked to Andrew Ross Sorkin at the New York Times DealBook Conference on November 6, 2019.

[@Outta12]

This guy is a MASTER at answering questions!

[@thegoonist]

this. i am glad im not the only one for whom this aspect kind of stuck out for. he answers the questions not only with empathy, directly, clearly, but he also shows that he has a clear direction, vision, and knows what he and the brand stands for. it shows hes on top of things at netflix, and has a clear idea of where he wants to take it.

[@koenignero]

You can learn answering this way. Its training.

[@Outta12]

@@koenignero yes! I've had some vvvvery light media training. That's how i can recognize his mastery.

[@tamie341]

Yeah fuck the interviewer! What a knob

[@CarsonHoy]

Outta12 where did you do training? That’s cool!

[@alexwhb122]

This guy has great answers. I also love how he's plugging all of his shows throughout the whole interview. Very clever.

[@RS-kt6is]

did he plug in Bojack? Which he cancelled?

[@Dudlers95]

@Bitcoin Beast username says it all

[@MADMAX7330]

Thats called answering like a CEO

[@chancemack]

He is finessing these questions beautifully.

[@TrunxKraft3000]

I wish the host didn’t keep interrupting him.

[@professorjaybee]

Interviewer: ‘Fear, competitors, Petty, Fear, Controversy’ rolled into question form. Reed Hastings: Hold my 🍺 and check out our new show ________

[@area51reviews]

People started to ridicule Netflix for creating Original Content a few years back, but they foresaw the future competition and how to withstand the mega giants ( Apple and Disney ) and survive the war.

[@theicebooky]

I was part of that ridiculing. Looking back though, I was very wrong and they really are a visionary company!

[@alecstewart8084]

This didnt age well 😂

[@thedrinkinggamemaker9749]

Are you....making excuses for them?

[@brandonkeeler7363]

8:43 “I’ll subscribe, they got great shows.” - Ladies, gents or others this is ultimate confidence is your ability to compete constantly. Every entrepreneur should maniacally utilize their comp’s platforms.

[@akshaydharmavaram3319]

Hats off to the New York Times. This is a fantastic video! I usually don't watch 30 min videos nor do I write comments, but this is just gold. I am writing this comment so that the KZbin algorithm recommends this to other people. Reed is crystal clear about how he wants to guide the company. No wonder investors value this stock.

[@neel3665]

I absolutely agree. Reed Hashting is a delight to listen to.

[@RayfilWong]

"Netflix and Chill" affirms how the brand has become part of pop culture internationally 💡📡

[@jamal6221]

This dude is so smooth answering questions and promoting his company at the same time, he almost makes me want to subcribe to netflix even though I already have an account.

[@alexstomberg8230]

Lol his answer to every question gets redirected to their original content

[@adiliom5781]

AA Tech he dont give a shit bout no disney plus only money plus 😂😂

[@tamie341]

Homie is 10 steps ahead of the rest!

[@sultanmehairi4554]

Because Disney plus if it came out 2 years ago would have taken off better than now because Netflix 2 years ago had content that they don’t own but after they began putting their own content out and their original content is what people are hooked on now and know they want to strengthen this

[@gemelwalters2942]

Netflix is like...we don't really care about anyone, we just care about making content for ppl.

[@kaine3805]

thats what they say

[@gemelwalters2942]

@@kaine3805 well he's not trying to throw insults in the way Eiger has so I'll take that. Disney accuses them of not making meaningful content yet they steer clear of anything that even might be controversial. Hypocrisy at its finest

[@KahylTaymar]

WHEW! A masterclass. He pivoted and controlled this like a boss.

[@davetesh]

I’m binge watching these interviews. Keep up the great work! We want more business interviews!!

[@adiliom5781]

man is more focused than rocky on his own originals gotta love it

[@williamlampeter7301]

Superbly unflappable and engaging, in spite of mid-sentence interruptions. Well done Reed! Long live streaming!

[@gemelwalters2942]

that's the difference between Netflix and Disney+. Disney + is only interested in locking customers in for weekly releases which is just going back to cable and it's baffling ppl support that

[@tigerrx7]

This guy knows what he’s talking about. I have Hulu, HBO, Showtime (trash), and Netflix. And most of my entertainment is on Netflix and HBO. As in, I only watch Hulu when I wanna remember what the logo looks like. Only got it with a Spotify bundle. Not interested in Apple or Disney. Too much content, I’ll just go crazy.

[@h3684]

This man ladies and gents... Is a one of kind... Take notes.

[@tomashernandez828]

CEO is total commander of Chill..and this interview!

[@MrAdrianeagle]

I have a Netflix subscription, but Reed makes me wanna subscribe again

[@26prahlad]

Reed has become an excellent face of a massive public company, his unique style of reframing questions is really something we all can learn from. I certainly see why news corporations need multiple 'opponents' going against each other, but if you truly want to make to make sense of the direction premium subscription media is heading, start with the fact that there will be a few winners in the war. Today, on average there are 3 subscriptions per streaming household. We are going to see a bunch of new players like HBO Max, Peacock, Quibi and even a service by Discovery and BBC. We are going to have multiple major streaming services, all specialising in a certain type of content, while also offering substantial evergreen, mainstream movies and shows.

[@hunterlueck7879]

The interview cuts off him so many times.

[@Disidnte]

Is it just me or the volume is very low?

[@donquixotex]

yes, had to put the closed caption on and it's still driving me nuts

[@BigAirDropper666]

This interview clearly shows that Old Economy is based on a linear thinking value chain and the digital economy is fueled by multilateral thinkers and value chains. It's a dispute between Local thinking+global impact and Global thinking+global service. And the winner is Global thinking + Global Service #Netflix.

[@aryansingh163]

Why does Netflix never recommend me the shows he is referring to

[@danjacob5301]

Andrew Ross Sorkin is incredible at his job. Shoutout to him for this, Squawk Box, and Billions.

[@chancemack]

Dan Jacob absolutely. He’s a great interviewer.

[@tamie341]

Guy is a total douche. Reed makes him look like a knob.

[@beatjunkybg]

The interviewer needs longer pants, he's really struggling here

[@whitewhale1000]

Sebastian lmaooo. That man is a billionaire. He can sit however he would like. His story is amazing. Everyone laughed at him. He stuck through and won 🤷🏽‍♂️

[@maheshsnair1]

he's a gentleman.

[@firuznegmat-zade1211]

Beautiful energy, beautiful answers! Very smart and calm C.E.O.

[@tayneilson]

this guys is just like, bruh i don't care, we just make the best content for netflix viewers

[@tayneilson]

@James Mosley II freaking epic

[@toms_tech]

Thumbs up to Reed Hastings. Thumbs down to this host.

[@tka060681]

He doesn't care all the nonsense, just trying to make Netflix as best as possible, which I think they did. He is on point, when I switch on the TV, the first thing I did is scrolling through Netflix. I don't think it's realistic to have two streaming service, because most people only have few hours to watch TV a day.

[@DannyDee143]

"why don't you do what we at the NYT think you should do?"

[@neel3665]

Hahahahahaha

[@KikiCorallie]

i will choose which ever platform that streams The Office

[@bbishyy]

Peacock will

[@suvivares]

Kiki Corally 👍🏻👍🏻👍🏻😀😀😀😀

[@chansherly212]

Hasting's miscrosoft excel skills must be off the charts , cos' dang he sure can pivot!

[@LaszloMag]

Hastings might seem to some like an ninja answering these questions (which are pretty tough), but it becomes pretty effortless for him to answer, and should be for everybody else who works at Netflix too, as long as they are dead clear about their values and are 100% focused on their road map. If they are wrong about them is however another question, and is something only time will tell

[@rohitbhatia6598]

listening to those smart answers, I have a feeling that years from now he is going to run for the president. :)

[@harish8231]

After watching this show I subscribing Netflix

[@paulohero]

Funny to see Steve Case getting awkward when Reed said that he was wasn’t a believer on Netflix. Lol I love the slight cheap on his shoulder.

[@Harlock2day]

The Netflix guys is totally relaxed about the competition and the interviewer asks questions as if only what happens in the states matters and he is sooo far off the truth, Netflix is a global phenomenon, the competition is increasingly far behind , how many of those streaming networks are present in the global market ? Apart from Netflix and Amazon no competitor in sight.

[@faintscrawl]

13:14 for Hastings's comment on how Netflix is just "entertainment" and doesn't want to ruffle the feathers of murderous tyrants.

[@letechpreneur6767]

That comment was really disconcerting.

[@Problematist]

It makes sense since they can't control these tyrants, they can do everything in their power and remove the episode but at the same time make people aware of other living standard globally through all the other stories on Netflix. Kinda badly worded by him tho. And also, the episode is available on KZbin so there's no harm done.

[@Brocambro1]

Not everyone is interested in politics, if you need that go to CNN and Fox I think he is right.

[@kennethhumphrey952]

I plan on using Netflix as long as it's around.

[@allornonebaby]

He said, "I'll subscribe, they have great shows"

[@JJs_playground]

I tried Disney+ for the 1 week trial period, I cancelled it and keeping my Netflix subscription.

[@infinitecuriosity9210]

Netflix is still number one in my book. They have incredible quality of content and diverse content. I found Korean shows on Netflix, incredible content, I watch mostly subtitles and I'm Caucasian Canadian. Netflix has the nicest platform to navigate as well. They serve their customers it's obvious.

[@gemelwalters2942]

Exactly, that's what everyone doesn't get. The US isn't all that matters. One of my most anticipated shows coming next year is Kingdom, a Korean period drama with a zombie element and its so good. I can find these culturally distinct shows I definitely won't find on Disney+

[@amytsiga8047]

Exactly , you find diversity . I for one enjoy all the diversity . They have African shows / movies to all the great Hollywood stuff . I like Neflix

[@danh5637]

I think something all of these streaming platforms have missed and Hastings actually touches on it as a negative when I don't think hostically it is, is the idea of linear tv. It's not totally a bad thing, insomuch as I love Netflix and KZbin etc. And I like it's suggestion engine, recommendations, subscriptions and the like. But actually sometimes I want someone to pick for me, and thats what linear TV does. I want to be able to just turn on my tv (or in this case my computer phone tablet etc) and just watch something, and it maybe something that I wouldn't have picked, or in some cases don't even like or enjoy, but it exposes me to new things that are outside of me and my preferences. Non linear streaming has also created the tyrrany of selection, and what I mean by that, and you see it most prominently in politics, is now we can proactively pick our news sources, we only choose those sources we gel with. So when linear TV was the only option, you either watched the news or you didn't, and you were exposed to a variety of views, now we have created what people call 'the echo chamber' of our own views, and this is causing rifts i society where people cannot get along whilst having different opinions because we've siloed people into ideological islands. Similarly happening now in entertainment and what this will ultimately lead to is more of less. So more content but about fewer and fewer tastes and ideas and philosophies. Basically unless Netflix and the like grapple with this they're sowing the seed of their own destruction because when everything starts becoming more of the same, then why should I use Netflix?

[@ShiningEyeBrigade]

Just finding out about this series and interviewer, Mr. Sorkin. So impressed.

[@alanpolo4017]

The interviewer needs to work on his interview skills. Kept rudely cutting him off or not elaborating on answers.

[@MyInstantSearch]

I like how he answers his questions!

[@Obadayasuchiang06]

He tries to rip him off but handle Like a boss (thug life)🕶️👓🎯 😁☝️🔥🖍️🖌️🎨🙏

[@apapouts]

This host is the most annoying host i have ever heard in my life.

[@caninho1]

they learn all kind of stuff in journalism school. letting people speak out is none of them :)

[@pholusinvestments7994]

yea same here makes me want to puke

[@sweetaddictiontoawesomenes6831]

CEO, more like a Pioneer of the concept, ask him about direct steaming from Production Studios, and if it's better than what we see at Movie Theaters now

[@sampragyaagarwal6325]

I'm waiting for the Netflix Avatar series!

[@NESherv]

I misread, "Netflix CEO Reed Hastings Talks Streaming Wars" as, "Netflix CEO Reed Hastings Talks Stealing Cars".

[@barfymann362]

Bill Burr was far ahead when he decided to release his comedy special with Netflix.

[@ZackBellGames]

This dude is a pro.

[@illegalalien6542]

We're basically in the Edo period of pop culture and entertainment

[@AwomKenneth]

lol Edo is a state in nigeria

[@thedudeabides2531]

Netflix's stock dropped by about 3% yesterday because of the news that Disney got 10 million subscribers on the first day. Today, it's back up 2.5% so far. Basically, the smart people are buying up all the shares from the idiots who panicked yesterday. Gotta love people who panic at the drop of a hat. That's when there's a buying opportunity. Fact is, Disney+ is just riding high on the hype. That will fade in several months.

[@thedudeabides2531]

@@JR-yu5tf But it will. The $1 billion a year Disney plans to spend on content for the service is peanuts compared to Netflix. People will get bored with the sparse new content over the next several months. It will become more like a niche Showtime or Starz, not a core streaming service like Netflix. The value is just not there.

[@neo-anderson]

I need to take lessons on how to answer questions from this CEO

[@6s6]

Interviewer needs to listen more, please

[@Saskiequelle]

BOOST THE VOLUME!

[@leonnoirsr]

When the execs started asking questions and throwing shade Reed hit them with the famous Drake line "Just give it time, we'll see who's still around a decade from now."

[@cyberdyne6188]

LOL talking about dodging bullets

[@sunwang3076]

Excellent interview

[@MichaelBDibleyDC]

Reed Hastings is fantastic, Andrew needs to learn how to interview elegantly.

[@DavidAxelrodP]

There's so much opportunity to involve tech and social experiences in content. Would be so cool to see other people's (in my circle) thoughts about a show or movie time-stamped. SoundCloud used to do this really well. Otherwise I worry that all the content spend will be only enough to keep people for a marginal month vs Disney's franchises that have replay value. I think back to bird box, fantastic movie that I talked about a lot with my friends when it came out. Haven't heard a word about it since. Content production is a difficult, low margin business. All the while you have some of the best engineers in the valley. It just doesn't make sense to run head on to where everyone else is going vs blazing your own path which is what grew the business so large in the first place.

[@user-ow5mn6dn7n]

Very good interviewer

[@bobinorlando]

On the one hand, when the tired movie business looked like it was in the last stages of a mature industry having failed to drive innovation itself and with ever dimming and declining box office potential in theaters and with DVD revenue evaporating and the risks of betting the house on blockbuster movies growing ever greater, it would seem Hollywood finally found a sucker and from among the very enemies they feared the most - the disintermediaries. So Hollywood dusted off every marginal treatment and script in the library and sent them all to NF, Amazon and the rest of the streaming networks who, lo and behold, manna from heaven, bought them at absurdly high production budgets - or bought them at all - spending not "a small fortune" but a huge fortune - bank breaking total investments with business models that are not tied to viewership and not tied to revenue generation, just dumped into a homogeneous common pot of subscription content at an annual cost that exceeds $35 billion -- $20 billion MORE than Hollywood grosses in a year in the US and almost as much as annual global revenues. Hollywood's enemy has become their best friend, their willing victim and their saving grace. Sheer insanity. Who knew? And how Netflix and Amazon will ever hope make enough money to make a profit on their investments when they all just get dumped into a common pot and left to the devices of subscribers to decide which ones to watch is beyond comprehension. What if no one watches them? No one is forced to watch so it is entirely conceivable that some of this new "content" may go unseen by anyone like books in a library that no one ever checks out. By the time you know whether it's a hit or a dud it's too late. If it's a dud, too late - the money's been spent. If it's a hit - too bad you can't charge more for it and you won't make more from it. On the other hand, the lifetime value for even mediocre "content" (nee "movies and tv shows") is enormous because of syndication. Every one of these Netflix Originals or Amazon Originals has a revenue generating future life ahead in syndication on each other's networks, cable networks and local broadcast. We're already seeing it in the third party productions that show up on Amazon for a few years and then move over to Netflix or vice versa (Jack Taylor comes to mind with Season One now on NF while multiple seasons have been on Amazon for several years). This will be the true business model of the streaming networks just as it was for broadcast and Hollywood and it will go on virtually forever finally showing up as reruns on local tv stations at 3 am. A dollar spent on original content that can be syndicated is worth thousands more than a dollar spent on licensing somebody else's content. Sheer insanity may just be sheer genius!

[@antoniobortoni]

Netflix park? Netflixland where you can live the real adventure. Joking aside, IA animation its the future, it's so powerful that it can make old cartoons new in 3d and better or give animator incredible power for storytelling and it could be working pair to brains sensors and see a response of animations or history in people and choose the better that it will be the more perfect and in the same time create more good physical reaction entertainment. Or extremely addicted. IA can find and create the media that people want to see not what people think they want to see.

[@gabrieldemelo5363]

Wow great interview!

[@CassandraDarling]

FYI 'Klaus' was AWESOME!!

[@TheMasacure1234]

wait till we see Netflix taking on the education problem here in the us

[@brooke4729]

this interviewer I can't lol

[@happyicare5053]

Mis alumnos están enganchadisimos a Netflux

[@SunnyGoklani9]

Did Andrew leave CNBC??

[@gokuultrainstinct908]

He forgot to ask him about the 12 billion debt Netflix has

[@medmondsr]

I wonder what Hassan’s thoughts are about his show being purely for entertainment. He and his team seem to put a lot of effort into being factual and getting their story straight.

[@Brocambro1]

Hearing all this corporate journalist questions all about trying to entice Netflix CEO to go the cable TV's way, meaning profit for shareholders at all costs without real concern about consumer needs and time. These things are why Netflix came about and have led cable TV to its demise, it seems they are all irritated by the CEO focus on what consumers want; no adds, better shows, reasonable pricing,... those things seem to irritate them but they are what makes Netflix great to consumers who pay for the service. You can tell that they are irritated why Netflix resist the TV mantra ideology of trying to gauge the consumer as much as possible while saving as much as possible on satisfying consumer needs(crapy shows, disrespect of consumer time by booking more adds time than the content itself), but Netflix understands that with today's internet world they have lost the ability to play the consumers as cable used to, that the day they will introduce adds as TV did will be their end as a leader in the streaming industry, because some small unknown company will step in to do what consumers want...

[@caninho1]

if one person told me the interviewer is 25, and another one told me he is 45, i would believe them both

[@happyicare5053]

Chapeau

[@happyicare5053]

Chapeau😘😘

[@happyicare5053]

Greetings and big kiss from.here

[@ethanholgate2512]

Why doesn't Netflix include special features for there own content

[@dvd7826]

Streaming wars the console wars so many wars in entertainment lol

[@Luztr3]

That's what business is.

[@illegalalien6542]

Exactly. We're basically in the Edo period of pop culture and entertainment

[@happyicare5053]

Chapeauuu

[@mikeomaliko5843]

The justification for taking down the MBS episode sounds like a really good attempt at an appropriate response, but I am still not buying it

[@tg14764]

was this filmed on an iphone 3gs?

[@djhottok]

20:36 don't mind me just taking a nap

[@dv6165]

Interviewer: Why did you censor an episode of one of your shows at a dictator's command? 14:36 CEO: "We don't feel bad about that at all. We want to create a room for all of our entertainment to be able to be seen around the world." Comment section: This guy answers questions like a boss.

[@mrchocolate4eva]

it's impossible to live without netflix...everything else is nice to have.

[@iVince905]

Rip to you. While everyone else lives

[@mrchocolate4eva]

@@iVince905 lolllz

[@Brocambro1]

Nice line for Netflix advertisers to steal...lol

[@aristotlejrpatel593]

Blockbuster didn’t adjust. They could’ve been Netflix before it even existed.

[@bobpolo2964]

how so

[@Wellspring604]

Please improve Netflix Canada because I'm about to switch at the end of my billing cycle this month due to lack of good new content!!

[@happyicare5053]

The other way studebts told me about a good series in Netflix I have to así them again ,I can't remember tge name

[@ShubhamSingh-gk8vp]

???

[@killmedia1279]

Restaurants are better than they've ever been! San Francisco reports 400 restaurants closed in 2019 alone. Bahah!

[@Economivision]

Netflix has a long road ahead. Lots of reinvestment costs, and they have to earn their stripes by narrowing down their content that still maximizes their satisfaction and with users and subscriber growth. They absolutely have to get better at tailoring each profile to the specific use so that the illusion is that Netflix has nothing but all the shows and movie YOU want to watch. That's important. The reality as that they need to turn cashflow positive not just for the equity holder but the debt holder. Otherwise they're just paying down old debts with new issuance. I'm doing a video on this, so stay tuned.

[@malvinderkaur4187]

you do not take 'panga' threats of blocking the ones who are established and have equal muscle to sock you back... that is the first observation, second the content has gone through so much change, growth, and all sorts of genre, but i know certain things haven't been explored and they might bring that fresh interests which now jaded palettes watching content googly eyed online or conventional networks are feeling fatigue factors.Entertainment is going through great upheaval in terms of it's visibility, format , viewing platforms and demand supply ratio.

[@malvinderkaur4187]

Of course,when you try pick on somebody with equal punch or bigger size they can squish you,cowards have been picking on helpless the ones who do not have resources like CIA I am one victim and block sign sadly came on Twitter where my wealth of jokes are. And Facebook page is frozen hacked last 9 years reason unknown resources like Govts kind, coward bullies have no balls to face a tiny woman who can kick the balls in teeth so bad that they will regret taking on that little size, only way to teach toxic bitch assholes what it means pick your own size for battles.and what? This unhinged deliberate induced nastiness why I have no clue

[@neilfordan]

14:16 talking about double standard. Talk about how youtube censors content for US.

[@soikot007]

Master I found you at last