Decoder with Nilay Patel Netflix co-CEO Greg Peters on the streamer's shifting culture and where ads, AI, and games fit in
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Jun 24, 2024 
Greg Peters, co-CEO of Netflix, discusses the platform's shift towards advertising, which has attracted over 40 million subscribers in just six months. He shares updates on Netflix's culture memo aimed at maintaining core values amidst growth. Peters also delves into the evolution of streaming, the challenges of navigating a competitive landscape, and the innovative approaches in gaming and personalization. Additionally, he highlights the balance Netflix seeks between creative advertising and user experience, alongside the role of AI in enhancing content engagement.
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Netflix's Identity
- Netflix is an entertainment company focused on both creative and tech competencies.
- They aim to entertain a global audience and grow their subscriber base.
Competition for Attention
- Reed Hastings said Netflix's biggest competitor was sleep, highlighting the battle for user attention.
- Greg Peters agrees but notes the amplifying effects of social media engagement.
Content Economics and Copyright
- Netflix pays high rates for content, unlike user-generated content platforms like TikTok.
- Social media can amplify fandom but also raises copyright concerns.