Reed HAstings

Netflix plans “sizable expansion” into new markets in 2015

Netflix wants to further expand into international markets next year, according to the company’s CFO David Wells, who said at an investor event Tuesday that it plans a “sizable expansion” for 2015. Wells added that the expansion will be similar to what Netflix did in 2014, when the company entered six new countries in Europe, or potentially even “a little bit more.”

Netflix CEO: password sharing is not a big deal

Netflix CEO Reed Hastings doesn’t really think that many people are sharing their accounts with extended family members. His remarks came in response to an estimate that 10 million people watch Netflix without paying for it.

Netflix could partner with others to enter Asia

Asia is a tough market for Western companies, which is why Netflix is considering to partner with a local player as it looks for further international expansion options. The revelation was made during Tuesday’s Q3 earnings call, which had a somewhat sobering tone.

Netflix just became cable’s biggest TV network

Netflix streamed one billion hours to its subscribers in June, according to a note posted today by its CEO Reed Hastings. BTIG analyst Rich Greenfield calculates that this makes it cable’s biggest TV network, with viewers tuning in 80 minutes per day.

Netflix DVD profits will fund international expansion

Netflix’s DVD service may have taken a backseat to streaming, but it’s still an incredibly profitable part of the business. In its fourth-quarter forecast, Netflix estimates DVDs will produce $177 million to $192 million in contribution profit, on revenues of $354 million to $368 million.

Netflix apologizes, rebrands DVD business ‘Qwikster’

Netflix CEO Reed Hastings issued an apology to members Sunday night, while also providing some insight into how and why the company badly mishandled communications in light of a pricing change announced earlier this summer. He also announced the rebranding of Netflix’s DVD-by-mail business as “Qwikster.”

Netflix CEO: We Almost Didn’t Do the Starz Deal

Reed Hasting’s original deal with the premium cable network Starz is widely seen as a steal, securing Netflix the right to stream major studio content for reportedly just $30 million a year. But at the time Hastings made the deal, he almost pulled out last minute.