There was a pleasant nip in the air at the picturesque Laguna Beach, serving as the perfect backdrop for an open-air dinner on the lawns of the Montage resort, the venue for The Wall Street Journal’s marquee annual tech event WSJD Live. Even as the guests were sampling the lavish spread, Reed Hastings walked up the dais for a chat with a WSJ host. It was just days after Netflix had announced its third quarter earnings and the numbers were good enough to keep the 56-year-old founder of the paid video streaming juggernaut in good humour. Belying investor expectations, Netflix had announced the addition of 0.4 million members in the US and 3.2 million internationally. “We [will] collect about 8 billion dollars of customers’ money and so thank you all [gesturing at the audience] for giving me your money. This money is in a trust to create joy…if a show costs 100 million dollars, how much joy, how much viewing it creates among the audience. If you are happy and tell your friends, we have more money next year to turn into more joy. We think of ourselves as [an] alchemist, we take in money and out comes joy,” said Hastings, even as he urged the audience to watch Netflix’s new show The Crown.
Netflix now streaming...
Netflix’s premium positioning may not fetch it the VOD crown in India, but it will still end up a winner
Summer wine and salad
Kishore Singh - January 19, 2015
The million-dollar question: Is investing a game of luck or skill?
Shankar Sharma - May 04, 2021
Every crisis is an opportunity, if you are on the right side of equities
Samir Arora - May 04, 2021
Viraj Mehta trusts the toughness and bounce of a company that has seen many trials
Viraj Mehta - May 04, 2021
Safir Anand spots a mid-sized company with the right chemistry and catalytic circumstances
Safir Anand - May 07, 2021