Comments from Netflix's (NFLX) CEO, Reed Hastings, at a UBS Conference

Comments from Netflix's CEO, Reed Hastings, at a UBS Conference:

Sees 50% of Videos delivered via the Web by 2016...Fiber optic networks to help with streaming plans.

Hastings said profitability depends on subscriber growth, sees no quick return to global profitability, but reiterates goals to be a global provider of content.

Hastings also said he isn't losing too much sleep over missteps, claiming company/mgmt got over confident...sees 'Arms Race' to dominate streaming content

Hastings view HBO as top competitor, downplays Verizon (NYSE: VZ) and Amazon.com (Nasdaq: AMZN) as streaming competitor, but cites Verizon as fresh competition...and Netflix is in crosshairs of Verizon

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Esquire Financial (ESQ) Files $100M Mixed Shelf
• Magnificent 7 stocks may soon see wave of investment dollars from largest US funds
• U.S. Bancorp (USB) PT Lowered to $43 at UBS