Netflix CEO Reed Hastings has been investing heavily in original content but don’t expect to cue up a live sports game or evening newscast anytime soon–or ever.
Hastings said that Netflix won’t get into news content, telling the New York Times: “You don’t want to invest in things that are dying.” He also dismissed the idea of live sports content.
Those comments were in direct contrast to suggestions made in a video conference following Netflix’s quarterly earnings in October. When Hastings asked Netflix chief content officer Ted Sarandos about how likely the company is to compete directly with Vice in the next two years, Sarandos replied: “Probably high.”
Hastings made the comments at the DealBook conference in New York on Tuesday, where he discussed the state of entertainment as well as what’s ahead for the company. Netflix plans to spend $5 billion next year on content, focusing on original shows and movies. Hastings said that there’s not “nearly enough” great content for viewers, and Netflix would help fill that void and plans to “expand significantly.”
Netflix (NFLX) is gearing up to release its newest original series written by and starring Aziz Ansari called “Master of None.” The launch follows on the heels of its first original movie, “Beasts of No Nation,” which came out last month.