Netflix Claims Its Biggest Competitor is Sleep
We all love a good Netfilx binge every now and then. The media giant has made it more than possible to stay up all night long watching television and films, simply because it’s always available. No scrolling through guides or catching something five minutes before it goes off, you have entertainment at your fingertips 24 hours a day, 7 days a week. The way they upload their original television series’ makes it even more enticing to spend a few sleepless nights with shows like Orange Is The New Black, Arrested Development or Trailer Park Boys...and next thing you know you’re addicted to House of Cards or Unbreakable Kimmy Schmidt.
So why was Reed Hastings so bold to say their biggest competitor is sleep? Reed Hastings, CEO of Netflix, is often asked about competitors like Amazon and HBO. Here, he explains why Netflix is competing with sleep:
They’re doing great programming, and they’ll continue to do that, but I’m not sure it will affect us very much. Because the market is just so vast. You know, think about it, when you watch a show from Netflix and you get addicted to it, you stay up late at night. You really — we’re competing with sleep, on the margin. And so, it’s a very large pool of time. And a way to see that numerically is that we’re a competitor to HBO, and yet over 10 years we’ve grown to 50 million, and they’ve continued modestly growing. They haven’t shrunk. And so if you think about it as, we’re not really affecting them, the [question] is why — and that’s because we’re like two drops of water in the ocean, of both time and spending for people. And so Amazon could do great work, and it would be very hard for it to directly affect us. It’s just — home entertainment is not a zero-sum game. And again, HBO’s success, despite our tremendous success, is a good way to illustrate that.
Want more great news and articles on all things sleep? Check out Holy Sheets! by NuSleep.
- Romell Bhaala