In a recent appearance on CNBC, the Chief Executive Officer of Netflix, Inc. (NASDAQ:NFLX), Reed Hastings, has discussed about his company and his plans for the future. He stated that Netflix is currently working on its next original series, entitled “Orange is the New Black” and they are thinking about a new miniseries called “Carlos.”
Mr. Hastings also said that currently the biggest threat for Netflix, Inc. (NASDAQ:NFLX) is the fact that they might get too comfortable. The company is doing well at the moment, and the team has to “keep pushing and find new things.” However, the CEO of Netflix said that the company will not use advertising, even though there is a good ad market on which Netflix, Inc. (NASDAQ:NFLX)’s peers are operating such as Hulu, or Google Inc (NASDAQ:GOOGL)’s YouTube. “That’s just a different business model,” Hastings added.
At the same time, Netflix, Inc. (NASDAQ:NFLX)’s CEO wants his company to explore new possibilities. The company plans to spend around $3.0 billion this year on content on a global basis, which is a pretty big budget and will help the company to do many new things.
“I think if we don’t have big original failure, we are not trying hard enough. So I keep pushing our team to do bolder and bolder things and at some point I am sure at some point they are going to jump the shark and I’ll regret it,” Hastings said.
In addition, Netflix, Inc. (NASDAQ:NFLX) is focused on strong net neutrality, which basically means that users should have smooth access to streaming services during peak hours, while some internet and cable providers charge higher fees for additional Internet traffic. Earlier this year, Netflix has to sign a deal with Comcast Corporation (NASDAQ:CMCSA), agreeing to its demands.
“If you look at other providers, Cox, Cable Vision, they have been great consistently. Comcast has fell off the track and the service got bad for those subscribers and then it’s recovered to the lever of the other guys,” the CEO of Netflix, Inc. (NASDAQ:NFLX) added.