Summary of How Netflix Changed Entertainment – and Where It’s Headed

Looking for the video?
We have the summary! Get the key insights in just 5 minutes.

How Netflix Changed Entertainment – and Where It’s Headed summary
Start getting smarter:
or see our plans

Rating

8 Overall

7 Importance

9 Innovation

7 Style


Recommendation

Netflix co-founder and CEO Reed Hastings sits down with TED curator Chris Anderson to discuss the bold risk-taking behind Netflix’s success. Hastings reveals the corporate culture and values that have made Netflix so innovative and fields challenging questions about how the algorithm-driven company avoids feeding subscribers too much viewing “candy.” getAbstract believes business leaders and strategists will appreciate this casual but substantive interview with a modern visionary.

In this summary, you will learn

  • Why Netflix made the shift to original programming and
  • How the company’s culture enables bold risk-taking.
 

About the Speakers

Reed Hastings is a former high school math teacher who eventually became the co-founder and CEO of Netflix. Entrepreneur and innovator Chris Anderson is the curator of TED. 

 

Summary

Netflix built its success on risk-taking – and not always the confident variety. The entertainment company took its first leap when it expanded beyond mail-delivered DVDs to offer streamed content. By 2011, the company had more than six million subscribers and steady growth when its leaders decided to produce House of Cards at a cost of $100 million. Creating content, rather than just delivering licensed shows and movies, was a “bet-the-company decision.” Yet the gamble paid off by strengthening the Netflix brand, thus attracting more subscribers. With its new series, Netflix also introduced a mode of consumer viewing: binge-watching. Netflix’s decision makers had become familiar with the concept from their history of shipping DVDs. They’d all experienced how having an entire TV series on DVD could trigger watching episodes back-to-back, and they knew that binge-watching would differentiate Netflix from traditional TV. In 2018, Netflix will invest about $8 billion in producing original content, such as the hit shows Stranger Things, The Crown and Orange Is the New Black


More on this topic

By the same authors

Makers
Makers
9
TED’s Secret to Great Public Speaking
TED’s Secret to Great Public Speaking
8
My Country Will Be Underwater Soon – Unless We Work Together
My Country Will Be Underwater Soon – Unless We Work Together
9
Netflix Culture: Freedom & Responsibility
Netflix Culture: Freedom & Responsibility
7
Chris Anderson on Why Community-Driven Companies Will Always Win
Chris Anderson on Why Community-Driven Companies Will Always Win
8
How Web Video Powers Global Innovation
How Web Video Powers Global Innovation
8
Free
Free
9
The Long Tail
The Long Tail
10

Customers who read this summary also read

Streaming, Sharing, Stealing
Streaming, Sharing, Stealing
8
3 Myths About the Future of Work (and Why They’re Not True)
3 Myths About the Future of Work (and Why They’re Not True)
8
Why Tech Needs the Humanities
Why Tech Needs the Humanities
7
An Economic Case for Protecting the Planet
An Economic Case for Protecting the Planet
7
The Rapid Growth of the Chinese Internet – and Where It’s Headed
The Rapid Growth of the Chinese Internet – and Where It’s Headed
8
The Magic of Tiny Business
The Magic of Tiny Business
8

Related Channels

Comment on this summary