The Future Of TV, According To Netflix CEO Reed Hastings

Read original story on: Quartz

Reed Hastings, co-founder and CEO of Netflix, delivered a rousing speech at the 2015 Re:publica Media Convention in Berlin last week, boldly predicting that “Internet TV will replace linear TV in the next 20 years”. Below are some of the highlights from his speech, which you can watch in its entirety here.

Original Content As The Main Draw
As Netflix aims to launch in every country by the end of the 2016, the OTT service will amplify its current strategy of producing a diverse variety of original content, especially the ones with cross-culture appeal such as Marco Polo and Daredevil, in order to conquer the global markets.

Open To Experimenting With New Formats
Hastings also mentioned Netflix’s willingness to experiment with new video formats, including unconventional episode lengths, second-screen interactivity, and even integrating virtual reality, so as to differentiate itself from the conventional content providers.

Future TV Sets To Look Like Giant iPads
Fully invested in the potential of streaming-based TV, Hastings envisioned standard TV sets in the near future to be glass-panelled displays wirelessly connected to the Internet, just “like a large iPad,” with an array of apps.

Sports Will Be Watched By The League In 4K HD
While he acknowledged that sports would not be on Netflix’s radar for the foreseeable future, Hastings boldly predicted that future sports programs will be streamed with a league-based subscription model, instead of the network-based model that currently dominates the industry. He also believes that the recent rise of 4K ultra-high definition video will help push more sports programming to the OTT TV.