Netflix's (NFLX) Hastings: 'House of Cards' Met High Expectations; Content Bidding is 'Healthy'
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Netflix (Nasdaq: NFLX) CEO Reed Hastings commented the Morgan Stanley Technology, Media & Telecom Conference in San Francisco, CA, this afternoon.
Hastings largely repeated some earlier forecasts and expectations. On "House of Cards," he said that the show has been great success as hoped and met Netflix's high expectations.
Hastings noted that success with "House of Cards" doesn't mean every property the company creates will be critically acclaimed
Also, amid the chatter Hastings made sure it was clear that "House of Cards" was a "relatively modest part of total viewing."
Netflix is also looking to expand into more exclusives next year. The long-term goal is to establish a foundation of exclusive content, the type of content that will make subs stick around with competition gets fierce. With most viewers being the 'wait-and-see" type, as in, not jumping into a series at the onset, Hastings notes that this will be a multiyear process.
On Arrested Development: the show is a "non-repeatable amazing" versus building a brand.
Amazon (Nasdaq: AMZN) and Hulu are "active bidders" for TV content against Netflix, which has put many providers at ease. It's a healthier environment.
Netflix has a strategic advantage in developing original content with an on-demand system (versus network TV).
Shares of Netflix are up 1.7 percent in afternoon trading.
Hastings largely repeated some earlier forecasts and expectations. On "House of Cards," he said that the show has been great success as hoped and met Netflix's high expectations.
Hastings noted that success with "House of Cards" doesn't mean every property the company creates will be critically acclaimed
Also, amid the chatter Hastings made sure it was clear that "House of Cards" was a "relatively modest part of total viewing."
Netflix is also looking to expand into more exclusives next year. The long-term goal is to establish a foundation of exclusive content, the type of content that will make subs stick around with competition gets fierce. With most viewers being the 'wait-and-see" type, as in, not jumping into a series at the onset, Hastings notes that this will be a multiyear process.
On Arrested Development: the show is a "non-repeatable amazing" versus building a brand.
Amazon (Nasdaq: AMZN) and Hulu are "active bidders" for TV content against Netflix, which has put many providers at ease. It's a healthier environment.
Netflix has a strategic advantage in developing original content with an on-demand system (versus network TV).
Shares of Netflix are up 1.7 percent in afternoon trading.
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