Netflix CEO Reed Hastings predicts the death date of TV
The head of video-streaming service Netflix has foreshadowed the death of broadcast TV, claiming it will be fully obsolete by 2030.
Reed Hastings, the chief executive of Netflix made the comments earlier this week in Mexico City where he was discussing the service’s growth in the Lat Am region.
He was quoted by the Hollywood reporter claiming that conventional TV services are “kind of like the horse, you know, the horse was good until we had the car.”
He added: “The age of broadcast TV will probably last until 2030.”
Hastings also admitted there are big plans in the works for Lat Am: “It is one of the fastest growth areas in the world in terms of broadband households and Internet connectivity.”
The firm, which accounts for a third of all US traffic, has 53 million subscribers worldwide and is largely responsible for the rise of on-demand content – it could possibly be the service which deals the killer-blow to satellite TV.
Hastings has his eye on an international expansion too with New Zealand and Australia set to see Netflix launched in the coming months, he said: “We are trying to get to a place where it’s fully global and you can get anything, anywhere.”
However, despite impressive growth, in October Netflix issued a profit warning after vastly overestimating how many people had subscribed to the service.