At the New York Times DealBook conference Wednesday, Netflix CEO Reed Hastings gave a keynote that addressed the wave of new streaming services launching and where he sees Netflix going in the future.
Hastings responded to questions about the competition with full confidence in Netflix and loyal subscribers who will stick with the platform they’ve been using for years.
“The real measurement will be time,” he commented. “How do consumers vote with their evenings?”
He went on to talk about how Netflix will continue holding their position as a powerhouse in the streaming market, namely continuing to invest in content. Reports are showing that Netflix will reach $15 billion in spending on content this year, and that number is likely to grow. “We’re planning on taking spending up quite a bit, “ Hastings said, according to Deadline.
During the talk and the follow up Q&A session, Hastings commented that there are no plans for Netflix to become an ad-supported service. He noted that Netflix is comfortable with the decision they’ve made to not air ads.
By offering a quality service, maintaining the ad-free model, and continuing to add new content, the Netflix CEO believes the platform will continue to grow. “We’re going to try to do the absolute best content that we can. And ultimately that’s going to draw in more subscribers,” Hastings said.
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