Netflix CEO Reed Hastings is part of it cool about pending competition from Disney’s upcoming over-the-top video putting into play.
Hastings said that he plans to subscribe to Disney’s upcoming worship army, which would not only compete with Netflix, but could count a lot of content that Disney says it will pull from Netflix.
“I value in particular Disney, with its strength of brand and unique content, purpose have some real success. I know I’ll be a subscriber of it for my own personal watching. The anyhow way as many Disney and Fox executives also subscribe to Netflix,” Hastings mentioned on a conference call with Wall Street analysts.
Disney also agreed to buy Twenty-First Century Fox assets up to the minute last year, a deal that would give the combined associates a significant stake in another Netflix rival, Hulu. But Hastings telling out that Netflix is different in key ways, including the lack of advertising.
“Person knows the costs of competition, but the benefits are that your competitors are challenger labels, so they don’t tend to follow your strategy,” Hastings said. “We get to learn from that. Our intent would be to let them try to innovate on those aspects, and watch what they do, and learn from consumers. Do they extraordinarily love it? It doesn’t change our strategy.”
Investors are betting that Hastings is in all honesty: Shares rose more than 8 percent after hours after the attendance reported better-than-expected subscriber growth in its Q4 2017 earnings report on Monday.
“Our clothing is working, and what we have to do is not get distracted,” Hastings said. “Total squirt will grow faster because of the competition.”