Thursday, June 16, 2016

Can Netflix Survive in the New World It Created? - The New York Times

From an extensive Netflix snapshot
"They had good reason to celebrate. Netflix, since its streaming service debuted in 2007, has had its annual revenue grow sixfold, to $6.8 billion from $1.2 billion. More than 81 million subscribers pay Netflix $8 to $12 a month, and slowly but unmistakably these consumers are giving up cable for internet television: Over the last five years, cable has lost 6.7 million subscribers; more than a quarter of millennials (70 percent of whom use streaming services) report having never subscribed to cable in their lives. Those still paying for cable television were watching less of it. In 2015, for instance, television viewing time was down 3 percent; and 50 percent of that drop was directly attributable to Netflix, according to a study by MoffettNathanson, an investment firm that tracks the media business."
Later in the article, related to the next post
"Reed Hastings doesn’t have an office. “My office is my phone,” he says. “I found I was rarely using my cubicle, and I just had no need for it. It is better for me to be meeting people all around the building.”"
Can Netflix Survive in the New World It Created? - The New York Times
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