The David Rubenstein Show Ted Sarandos
Sep 26, 2024
Ted Sarandos, Co-CEO of Netflix and a former movie rental expert, shares insights on the streaming giant's evolution from DVD rentals to creating award-winning original content. He discusses key strategic moves like 'House of Cards' that reshaped TV viewing habits and the rise of binge-watching. Sarandos also addresses the challenges of the streaming landscape, the role of AI in creativity, and Netflix's focus on audience satisfaction while exploring growth opportunities in sports and gaming.
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Netflix's Humble Beginnings
- In 2000, Netflix was small, with a few hundred employees, including those stuffing DVD envelopes.
- Blockbuster, the biggest entertainment brand then, had a market cap of $8 billion, seeming unattainable.
Netflix's Digital Vision
- Netflix was always intended to be a digital streaming company, not DVD-by-mail.
- Reed Hastings envisioned all home entertainment coming through the internet when he founded Netflix.
House of Cards Gamble
- Ted Sarandos spearheaded Netflix's original programming by spending $100 million on "House of Cards."
- This was a risky move, as the show hadn't been produced yet, but it could fundamentally change Netflix.