Netflix chairman and CEO Reed Hastings said he’s not “worried” about the imminent launch of Disney Plus — but he did indicate that he sees the Mouse House as the most robust…
said he’s not “worried” about the imminent launch of Disney Plus — but he did indicate that he sees the Mouse House as the most robust new rival in the streaming wars.
Besides Disney Plus — set to launch next week — Apple TV Plus bowed Nov. 1 and WarnerMedia’s HBO Max and NBCUniversal’s Peacock are slated to hit in 2020. The company previously acknowledged thatHastings, speaking Wednesday, said consumers will subscribe to several services, with the metric that separates winners from losers being time spent with each one, Hastings said: “The real measurement will be time – how do consumers vote with their evenings.
Facing deep-pocketed rivals, Netflix plans on “taking spend up quite a bit,” Hastings said. Netflix continues to spend heavily on content — it’s pegged $15 billion in content costs for 2019 on a gross-cash basis — and keeps burning cash. Last month,in debt financing, bringing its long-term debt load to over $14 billion.
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