“In the world of weekly serialised television you get 50 minutes of joy watching a show and then 10,000 minutes of waiting for the next one.”
Netflix is a pure on-demand Over The Top television product, it’s share price is up 220% in the past year, most of that gain in the past 6 months. Netflix has 30 million US subscribers and 6 million subscribers internationally from over 40 countries, a $2b annual content budget with 10% set aside for original programming, which it now has 20 or more of it’s own shows.
Netflix’s CEO Reed Hastings says he is unconcerned about their largest direct competitor, British owned BSkyB, (Sky Atlandtic and Sky Movies) had recently agreed on movie deals with the “big six” Hollywood studios. Saying, he would only be concerned if Netflix wasn’t able to land their own deals.
Netflix content chief Ted Sarandos asserts that Netflix draws bigger audiences than Sky Atlantic and Sky Movies, saying:
“I’m sure we have a bigger audience here than Sky Atlantic does for Mad Men, with 40,000-50,000 viewers for these big brands,” he says. “In the world of weekly serialised television you get 50 minutes of joy watching a show and then 10,000 minutes of waiting for the next one. Last night probably the most-watched [Mad Men] episode on Netflix was episode one of season one. People are discovering it on Netflix in [the drama's] later years and going back to watch the whole thing. Because we are a pure on-demand product, we are much more efficient at finding an audience for that show.”.
Read the full story of Netflix’s Ted Sarandos at the Guardian.