Netflix vs Blockbuster - The Way We Watch | 7

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 20 February 2018

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Netflix goes from being a streaming company to a movement in which consumers all over the world decide what show to watch -- and when and how they watch them. The future that Reed Hastings and Marc Randolph envisioned two decades earlier has arrived. The unfettered reign of cable television has ended. The war for streaming viewers will become richer. And more cutthroat.

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Transcript

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0:00.0	Hey, Prime members, you can listen to Business Wars ad-free on Amazon Music. Download the app today.
0:09.6	It's January 5th, 2016.
0:13.6	Netflix CEO Reed Hastings and his content cheap Ted Sarandos
0:18.0	race across the flat straight highway between Orange County, California and Las Vegas in a rented SUV.
0:25.7	Rain lashes the windshield.
0:28.6	A store has grounded all flights from John Wayne Airport in Orange County.
0:33.2	So the Netflix team set to fly to Vegas that day.
0:36.6	Has to resort to something they'd been doing in their business for a long time now.
0:40.7	They had to improvise.
0:43.1	They rent a car and drive fast to shave off as many crucial minutes as they can.
0:48.7	Because what's waiting for them in Vegas is the final rehearsal for the most important announcement in Netflix's history.
0:55.2	News they painstakingly kept secret from the press for months.
1:02.9	Hastings and Sarandos barely make it in time to the rehearsal.
1:06.6	In the next morning, Hastings strides onto a darkened stage at the consumer electronic show in Las Vegas to cheers.
1:15.4	He's delivering the keynote address.
1:18.3	Nerds, who were there for the displays of the latest electronic toys,
1:22.8	gather excitedly to hear what he asked to say.
1:26.9	But even with the rehearsal, he stumbles out of the gate.
1:30.8	He starts by rushing his speech, but he doesn't want to blow it.
1:35.4	So he takes a moment to collect himself.
1:38.4	He burrows his right fist into his left hand and speaks in an awkward, measured manner.
1:45.0	We can now put consumers across the world into the driver's seat when it comes to where and when you want to watch.
	...

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