Netflix CEO - Reed Hastings likes Elon Musk, bingeing, and video games |...

Reed Hastings likes Elon Musk, bingeing, and video games.

Elon Musk is courageous and inventive.

Netflix won't sell to Microsoft. It wants to get into gaming. Elon Musk is daring, therefore we should be understanding. Netflix wants to be in gaming, too.

These are some thoughts from Netflix co-CEO Reed Hastings's talk at the New York Times Dealbook conference today.

I attended today's event since it was a rare chance to watch Hastings speak in public, something he's done very little of in recent years beyond quarterly earnings calls. Since Netflix reported a stunning subscriber loss and a move into advertising in April, we haven't heard much from Hastings.

These announcements and their inference that everyone chasing Netflix would face the same growth and revenue challenges helped sour media investors on the streaming sector Netflix had pioneered.

The last time Hastings came to New York for this conference was three years ago, before the epidemic locked down most of the world and when Netflix had little competition. If you were hoping for a mea culpa from Hastings about streaming or anything else, you'll be disappointed. Hastings thinks everything Netflix did three years ago is still right.

This was a wide-ranging interview that wasn't streamed, so I'll highlight key points.

Netflix launched a video gaming initiative in 2021. In retrospect, that action was a clearer hint that Netflix was anxious about streaming than we realized at the time. Netflix has since bought a few game studios and released dozens of casual games. Neither the gaming industry nor Wall Street thinks Netflix will compete in games. Hastings regularly mentioned his interest in games without being prompted. Netflix wants amazing TV, movies, and games, he said. When asked about Netflix's interest in sports, he said, "Talk to us after we're a major leader in games." We must invest in gaming." Sent.

Hastings wasn't directly asked about Netflix bidding on sports rights (though other executives in the space have told me Netflix has done so). Hastings disputed the suggestion that livestreaming a Chris Rock comedy special next year was a forerunner to streaming live sports. "Nope." Livestreaming will be used for comedy and "contestant shows," which sounds like sports but I assume means Netflix's "Love Is Blind" reality shows/contests.

Netflix+Microsoft=? Hastings said Microsoft paid Netflix a lot of money to be Netflix's advertising partner. "They were willing to be aggressive" Hastings said this doesn't foreshadow a sale to Microsoft, as many have anticipated. "It's not customary to do business with acquisition targets," he remarked. It's more complicated.

Chappelle on binging: Netflix should stop dropping all of its shows at once, according to Hollywood. Netflix is experimenting with this concept (this summer it split its newest Stranger Things season into two chunks). Hastings said Netflix won't do rid of it because he doesn't need to (other streamers need to spread their shows out) and because customers appreciate it.

Asking customers if they'd prefer waiting a week for a new episode is like asking "would you rather read yesterday's news or today's?" Hastings said Netflix has no regrets regarding the Dave Chappelle specials in which he battles trans activists. These promotions have been hits for the service, he said, so "we'd do it again."

Mark vs. Elon Hastings, a member of Meta's board of directors, gave Mark Zuckerberg sage advice on thc t o and metaverse. Anh y: "I think the world should thank Mark for developing this technology." "I don't know if this helps c ông or not."

Hastings is a big fan of Elon Musk, whom he calls the "most creative, most innovative entrepreneur" Hastings said Musk's cá nhân phong cách was honed by him, but he said Musk's backers are aware of it. “Tôi tin chc 100% rng anh y ang c gng gip th gii,” anh y said, and he suggested that chng ta khen ngi anh y because he donated 44 t ô la to Twitter rather than buying a large du thuyn. "Give anh chàng này a chuckle."