Over the next 20 years internet TV and video on demand platform are going to replace linear TV as the way that people consume video, according to Netflix president and CEO Reed Hastings.
Speaking on the firm’s first quarter earnings call yesterday, Hastings said that after linear TV’s “amazing 50 year run” the industry is now transitioning with “everyone scrambling to figure out how do they do great apps.”
For the quarter, Netflix revealed that it had surpassed 60 million global subscribers and said that members streamed 10 billion hours of content – “evidence that consumers around the world are embracing the Internet TV revolution.”
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