Items tagged with Reed-Hastings
In a recent Spanish interview, Netflix CEO Reed Hastings offered a rather controversial perspective on content piracy via the Internet. In the interview, Hastings stated that while a great many may consider piracy to be a problem, the truth is that it has served a purpose in helping to create a public that is savvy about viewing best-quality content on demand via the Internet. Spain has long been a particularly sharp thorn in the paw of producers and distributors of entertainment products, with a raging culture of Internet file-sharing piracy borne of a dearth of good legal alternatives. Despite this, Hastings thinks Netflix's upcoming Spain launch will be one of the company's most successful...
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As everyone knows, Netflix is a juggernaut in the TV and movie streaming and DVD rental market, but the company is actually doing even better than expected. After bracing investors for a loss from October-December, Netflix ended up pulling in a net income of $8 million for the quarter with a revenue of $945 million. Further, the company expects to add another 1.7 million streaming subscribers this quarter, in addition to the 2.1 million that jumped on the Netflix bandwagon at the end of last year. All this good news sent Netflix shares through the roof; in after-hours trading yesterday, Netflix’s stock price shot up 35%. The reason for this unexpected profit and subsequent stock price increase?...
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