Netflix CEO Reed Hastings must be a happy man, considering his company has likely passed HBO in number of paid subscribers. Not long ago, it seemed like Netflix might lose out to other paid and free online television services; but with the launch of new original shows like House of Cards, Orange is the New Black, and the newest season of hit show Arrested Development, business is better than ever.
At the end of September, HBO had around 28.7 million paid subscribers. It’s projected that Netflix reached 30 million subscribers by the same date. No longer just a streaming service, Netflix now provides users with more value; it has original movies and TV shows, and its low monthly cost is incredibly appealing when compared to traditional cable networks.
CEO Reed Hastings’ goal is for Netflix to become a web-based TV network, and he’s doing so by following in HBO’s example set decades ago when it first began releasing original programming. Like HBO, Netflix is quickly building customer loyalty, something that is only bound to increase as it adds more TV shows and movies, as well as the ability to share subscriptions with family and friends.
Now Netflix is looking to become integrated into traditional cable plans. Whereas now users view programs through gaming consoles, computers, smartphones, tablets, or other devices, eventually the company hopes to give viewers the option of connecting to Netflix through their normal cable box.
What does the future of TV look like? Likely it will be a mix between traditional programming and Netflix’s online streaming capabilities. And Netflix is poised to lead the way.
Be sure to read our profile of Netflix CEO Reed Hastings here.