Netflix’s Reed Hastings gets ready for whole new world of streaming

Netflix has long dominated the streaming video on demand world — but come November things are going to change.

  • According to Variety, Netflix CEO Reed Hastings stated the obvious: That things are going to get competitive for streamers starting in November.
  • That’s when Disney+ and Apple TV+ are both slated to launched.
  • Disney’s offering is probably more of a threat to Netflix than Apple’s — given the extremely limited library Apple will have.
  • However, Disney Plus will have a formidable content library, including a big chunk of content that was once available on Netflix.
  • Disney also controls Hulu, which also brings a ton of titles to the table.
  • Plus, NBC’s Peacock streamer and WarnerMedia’s HBO Max are chugging up behind Apple and Disney with 2020 launches — not to mention the existing CBS All Access, Amazon Prime Video and even experiments from Facebook and Twitter.
  • Meanwhile, it appears Netflix is doubling down on its strategy to offer “bingeable” content.
  • Netflix has is creating a production hub in England to help produce content, though Disney has already been swapping up production space in the U.K. too.
  • Hastings points out this will likely lead to higher production costs across the board.
  • All that said, Hastings also solidified one point — Netflix is not interested in buying production or post-production companies.
Read full story »