WATCH VIDEO. Netflix CEO Reed Hastings sees Amazon as an “awfully scary” competitor, though he stopped short of saying it was Netflix’s biggest threat, he said on on CNBC’s Squawk Alley earlier this week.
Netflix isn’t the reason why people are quitting cable, Hastings also said in the programme. “Very few people have cut the cord. We have seen maybe 2 million or 3 million of 50 cut the cord. We don’t think of it as a big overlap that we are driving cord cutting. In general, it is like 2 to 3 percent per year, like broadcast ratings over the last 30 years. It will take a slow, secular decline, then they will adjust the economics.”
Netflix is ready to spend $6 billion on original content in 2017 — and the budget is going to go up “a lot” in the future.
and here is Reed Hastings on cord-cutting