Amazon awfully scary as a competitor, remarks Reed Hastings, Netflix founder and industry influencer. But is it necessarily a threat?
‘Netflix and chill’ is a modern saying that people today ascribe to the more intimate aspects of dating.
However, it also provides insight into how popular the streaming platform is throughout the world of entertainment.
Founders created company in 1997, and since then they’ve steered it in an industry-disrupting, cutting-edge direction.
Although consumers today know it as a service that provides media in real time through the use of the Internet, it wasn’t always that way.
Originally, Netflix delivered pre-ordered DVDs to people’s houses.
This innovation of bringing movies to your doorstep almost put Blockbuster out of business.
One of Netflix’s biggest assets is its ability to move with the times.
Consequently, it no longer distributes DVDs to consumers, but rather, streams media to multiple types of smart devices.
However, it might be facing its match, according to its CEO.
Amazon awfully scary, but is it intimidating?
Amazon’s founder and CEO Jeff Bezos is a man with staggering vision.
He’s dominated the retail world, and in true entrepreneurial fashion, has set his eyes on his next target.
Yet, in order to achieve his next goal, he has to break through gravity first.
Thus, Bezos aims to be join the ranks of explorers by colonising the moon.
This type of relentless spirit to succeed is something that Hastings is acutely aware of.
“Everything Amazon does is so amazing. How are they doing so many business areas so well? They are trying to repeal the basic laws of business.
“They are awfully scary I would say.”
Yet, that doesn’t mean that Hastings is necessarily intimated by its would-rival.
In fact, he has an ongoing business plan for Netflix to create more original content for its users. Having already planned to spend $6bn in 2017, Hastings sees that amount increasing in the future.
“As we grow the membership base, we want to grow the current budget.
“There are so many great shows we don’t have yet. We are going to continue as we growth the membership base to try and get more shows and more movies.”
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