Haute 100 SF Update: Reed Hastings Says Netflix Is Spending Billions to be Part of TV Future.

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Reed Hastings  Source: celebritynetworth
Reed Hastings Source: celebritynetworth

Netflix CEO Reed Hastings laid out an ambitious plan for Netflix’s future in a paper published on the company’s investor relations site.

The plan paints Netflix as one of the driving forces behind a transition from linear television to a world of internet-delivered on-demand content.

Hastings said that Netflix is now spending over $2 billion a year on the licensing and creation of content. The company is spending another $350 million a year on improving its service and apps, including improvements to the streaming quality and customer service. And it is spending over $450 million per year on marketing in all of its markets around the world.


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[Source: paidcontent.org]

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