Does anyone remember that time Netflix upped their monthly charge by like a dollar and people were freaking out? The media giant lost tons of marketshare and their stock price fell pretty dramatically. Seems like a distant memory. This is a company who is very familiar with ups and downs but if you want to talk about growth and ups, there’s no company that’s making bigger strides in media than Netflix. This is a company that used to deliver DVDs to your door. Remember? That was their original bread and butter business. Do they even do that anymore?
Nowadays Netflix is churning out more television series than it can count. Original movies are being produced at record rates. At some point you’d have to think that they’ll merge with some other giant (like Amazon) to take over the entire media universe. So who’s competing with Netflix right now?
Netflix’s real competition is sleep, CEO Reed Hastings said during an interview with analysts after the Net TV provider released its first-quarter financials Monday. When viewers get addicted to a Netflix show, “you stay up late at night,” he said. “We are really competing with sleep on the margin.”
Must be nice to be competing with sleep and not other companies.
With Netflix set to sign up its 100 millionth subscriber worldwide this coming weekend, the service is looking toward the future. “The next 100 million subscribers will be far more likely to be watching on mobile than the first 100 million,” said chief content officer Ted Sarandos.
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