After a better-than-expected quarter, Netflix founder Reed Hastings today showed some resentment and a lot of gratitude for the first part of Stranger Things‘last season.
“Flow works everywhere, everyone flows in,” the co-CEO said Tuesday after the company’s second-quarter results. “It’s definitely the end of linear television over the next five to 10 years, so very bullish on streaming,” Hastings added in his latest prediction about the death of broadcasters.
A prediction that Hastings said in 2014 would happen by 2030. A prediction that Netflix seemed to make with data included in their letter to shareholders after the market closed today – as you can see below:
Much of Netflix’s second quarter results over the past three months, following a painful first quarter with the company’s first loss of subscribers, had to come out of the 1.3 billion hours seen in the first part of Stranger Things’ fourth season. To that, praises the performance of the last season of Ozark and “many titles, many views,” the co-CEO admitted today that “if it was a simple thing we could say Stranger Things. “
The penultimate season of the Duffer Brothers’ sci-fi nostalgia series rolled out with an introductory series of seven episodes on May 27. The Emmy-nominated first batch of ST S4 episodes was the most successful English series debut ever for Netflix. Part 1 of season 4 was followed by two more episodes released on July 1, a rare one-to-punch for the streamer.
Still, with the loss of 970,000 subscribers as opposed to the 2 million drop that the company predicted in its own Q2 guide earlier this year, Hastings clearly tasted something bitter when he discussed today’s data with co-CEO Ted Sarandos and other executives.
“We’re talking about losing one million instead of losing two million, so our excitement is dampened by the less bad results,” Hastings from the streamer’s Northern California HQ remarked. “Tough in some ways to lose a million and call it success, but in fact, we are set up very well for next year, “he added with typical sashay.
“I think it’s very important, especially in tough economic times, for consumers to see Netflix as a huge value,” Sarandos noted, calling the platform’s current content offering just “the tip of the iceberg.”