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Netflix CEO Reed Hastings on the streaming wars and a poor Q2: ‘Our position is excellent’
Omar Marques/SOPA Images/LightRocket via Getty Images
People love a good fight, and Netflix CEO Reed Hastings says he believes the looming streaming wars will be a major net positive for every player entering the space.
It’s a positive sentiment — one that comes just a couple of hours after Netflix posted a troublesome earnings report. The company lost subscribers in its American market for the first time since 2011, seeing a drop of roughly 130,000 paid accounts. Although the company added 2.7 million subscribers globally, that’s only half of what executives predicted they would see. The concerning earnings report led to conversations among analysts and reporters about whether Netflix executives could put investors’ concerns to bed as the streaming wars — a term that refers to incoming…