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| Netflix CEO: Streaming will dominate home viewing within five years |
| Wednesday, 07 December 2011 00:00 |
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Streaming media will become the most common form of home entertainment within the next half-decade, according to Netflix chief executive officer (CEO) Reed Hastings.
In a speech at the UBS Global Media and Communications Conference in New York, the digital movie service provider's head stated that consumers are "in love with broadband, in terms of click and watch", reports AFP. He went on to explain that the pace of improvements to broadband infrastructure, such as the rollout of fibre optic networks, will mean streaming "is all people are going to care about" in three to five years. Mr Hastings said it is therefore vital for Netflix to cement its market position before the rest of the industry realises the potential of streaming services, highlighting HBO Go as a key rival. He also noted that the company will be spending up to $2 billion (£1.49 billion) on new content annually to remain competitive. This comes as the company prepares to enter the UK market in 2012, having agreed content deals with the likes of Miramax and Lionsgate. Posted by Kevin Smith  |