At one point, Netflix was considered the go-to channel for on-demand entertainment, as millions of users signed up to gain access to instant streams of various TV shows and movies. The company is still quite popular today though its competition is stronger than ever, forcing the company to revise its “long-view” statement.
In the statement, CEO Reed Hastings stated, “We compete very broadly for a share of members’ time and spending, against linear networks, DVD’s, other Internet networks, video games, web browsing, magazine reading, video piracy and much more. Over the coming years, most of these forms of entertainment will improve. Consumers will choose and consume from multiple options.”
Hulu Plus and HBO remain Netflix’s biggest competitors when it comes to original entertainment and services, but listing other activities is a step forward for the company. At least it’s finally acknowledging them, along with general TV and other forms of media. Will Netflix decide to compete in other areas as well as video streaming
Source: QZ
