on last slide
Netflix CEO Says TV Will Die Within 10 Years
Netflix CEO Reed Hastings claimed recently that television would die within 10 years.
He stated that since everyone invests in online streaming service
s, streaming platforms would "end the traditional method of watching TV".
The prediction was made after Netflix lost 970,000 subscribers du
ring the 2nd quarter this year. This is higher than the number it was able to lose in the first three months of 2022.
MailOnline reached out to experts and asked experts to comment on
their thoughts about Hasting's comments.
Experts have said that even if streaming is a way to boost TV rat
ings, Live channels won't disappear as easily.
"The future of television can be found in streaming", Mike Proulx
, Director of research and VP at Forrester, said to MailOnline.
He said that Hasting's statement was a bit sarcastic.
"Traditional TV has a distinct future for things such as local ne
ws and shows that are better suited to live-streaming," remarked Ben Barringer, an equity analyst for Quilter Cheviot.
Daily Mail pointed out that the main benefit of linear television
channels is that many are broadcast for free since they are financed by ads.
Netflix, On its side, has a higher monthly cost. Other streaming
platforms, such as Amazon Prime and Disney+, etc., cost even more.
Hastings revealed earlier that his platform will start ads by 202
3 to provide customers with lower costs to connect to Netflix.
Hasting says, "YouTube is a good example. It is free because it r
equires users to stream ads all time".
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