Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings believes that Internet television will continue to change constantly and also be filled with apps—just like today’s iPads and other tablets. He spoke at the Canadian Digital Media Network 3.0 conference, and Advanced Television reported on his speech.
He compared televisions of the future to taking an iPad, enlarging it and then hanging it on a wall. He also said that one of Netflix, Inc. (NASDAQ:NFLX)’s jobs will be to become one of users’ favorite apps by providing updates monthly.
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“We are now in 40 countries around the world, so people are starting to watch Internet video and you can start to see the outlines of what TV will be like in the future,” Hastings said.
When Competition Is A Good Thing For Netflix
Hastings noted that Netflix, Inc. (NASDAQ:NFLX) has several new competitors as companies like Videotron and Rogers launch video streaming services like it. He also said that a lot of competition is actually good right now because it gets people talking and begins to build the Internet video market much more quickly and bigger than it would be otherwise.
In addition, he said Netflix, Inc. (NASDAQ:NFLX) and its competitors can all learn more about how to do a better job, while content providers see their revenues increase as more service providers bid on their content. According to Hastings, consumers will then have plenty of choices.
Where Will Cable Go Next?
Hastings doesn’t think we’ll see cable companies going anywhere at home any time soon, but he did say that any networks which want to cement their position in this changing market must have excellent developers for apps.
It’s apparent that television service providers like DIRECTV (NASDAQ:DTV) and Time Warner Cable Inc (NYSE:TWC) are beginning to see the need to expand by adding Internet TV services. Both companies have been interested in acquiring the video streaming company Hulu, with DIRECTV (NASDAQ:DTV)’s interest being renewed this week.