Netflix co-CEOs Reed Hastings and Ted Sarandos tackled a range of topical issues Tuesday as they offered context for their less-than-expected gain in subscribers during the third quarter.
During their quarterly earnings interview posted to YouTube, Hastings was asked by moderator and Barclays analyst Kannan Venkateshwar about how the lack of a Stranger Things-type blockbuster affected the subscriber showing. The increase of 2.2 million subscribers was below company and Wall Street forecasts, and reflected a “pull-forward” in the first half of the year due to Covid-19.
“It’s just a little bit of math, Kannan,” Hastings replied, showing his assertive engineering nature. At the scale that Netflix has now reached, he continued, with more than 195 million global subscribers, the impact of big hits appears to be greater. On a larger base of subscribers, “you feel it more. From a practical standpoint, as investors, it’s a bigger deal. But remember,...
During their quarterly earnings interview posted to YouTube, Hastings was asked by moderator and Barclays analyst Kannan Venkateshwar about how the lack of a Stranger Things-type blockbuster affected the subscriber showing. The increase of 2.2 million subscribers was below company and Wall Street forecasts, and reflected a “pull-forward” in the first half of the year due to Covid-19.
“It’s just a little bit of math, Kannan,” Hastings replied, showing his assertive engineering nature. At the scale that Netflix has now reached, he continued, with more than 195 million global subscribers, the impact of big hits appears to be greater. On a larger base of subscribers, “you feel it more. From a practical standpoint, as investors, it’s a bigger deal. But remember,...
- 10/20/2020
- by Dade Hayes
- Deadline Film + TV
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