As Netflix sees a leadership shakeup and celebrates six months of subscriber growth, it is claiming there’s still a lot of money left on the table.
“This [content streaming] is really in its infancy,” co-CEO Ted Sarandos claimed, during today’s investor call.
“As big as we’ve become in the US we’re about 8 per cent of TV time still.
“So, it’s an enormous amount of growth ahead even in markets where we’re very well established. That’s the key for us.”
Netflix added 7.7 million subscribers in the last three months of December, bringing its total user base to 230.8 million.
Sarandos’ co-CEO Reed Hastings, who announced he will step down, took a moment to celebrate the company’s meteoric rise.
“We IPO’d at about $US1, hopefully some of you have held the stock for 21 years,” Hastings told investors.
““To go from DVD service to streaming leader in films and television and emerging games with over 230 million members, is a good start!
“Honestly, we dream of the whole world finding their favourite entertainment on Netflix.”
Sarandos added: “The consumer is moving to streaming, so the way they watch content on the internet, on-demand free of a linear schedule, that is a fundamental shift, and you’ve got to be where the consumer is.
“We’ve benefited from being a customer first company, and we’ve also had this blessing of not having to unwind a traditional media business as we built this one.”
