Netflix CEO Thinks Netflix is Too Successful

Published June 1st, 2017 - 09:14 GMT
Pablo Escobar wonders what to do with all that "Narcos" money. (Netflix)
Pablo Escobar wonders what to do with all that "Narcos" money. (Netflix)

Popular streaming service Netflix hit it big, and part of that reason is the TV shows it itself has created and the revivals it's made possible. Netflix Originals have included Narcos, House of Cards, 13 Reasons Why, Stranger Things, Orange is the New Black, Sense8, The Crown, The OA—even a TV show about an alcoholic, dysfunctional has-been horse, entitled Bojack Horseman.

Each and every one of these shows has been a huge hit. And this, according to Netflix CEO Reed Hastings, is a problem.

In an interview with CNBC, Hastings said, “Our hit ratio is way too high right now.” Hastings wants to break more hearts by cancelling more shows, ala his cancellation of The Get Down (about the rise of hip-hop in the Bronx, 1970s), but Hastings thinks there's nothing bad enough to cancel.

“I’m always pushing the content team: We have to take more risk; you have to try more crazy things. Because we should have a higher cancel rate overall.”

Netflix's high subscription numbers have also allowed the service to invest in its original (and semi-original) programming, picking-up cancelled but beloved TV shows like Gilmore Girls and Arrested Development. The company announced it would be investing $6 billion into original programming last year—a staggering number second only to ESPN's. Forbes quickly analysed the numbers, praising Netflix's business strategy.

Anyway, this should make for fun parties with network TV executives who are busy axing failed TV shows. God speed, Mr. Hastings.


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