Netflix CEO calls resisting ads a mistake


A Netflix logo is pictured in Los Angeles, California, U.S., September 15, 2022. REUTERS/Mario Anzuoni/File Photo

(Reuters) -Netflix Inc co-founder Reed Hastings on Wednesday said he was "wrong" to resist ads for his streaming service.

Hastings said Hulu proved streaming services could support advertising and offer consumers lower prices.

"I wish we had flipped a few years earlier on it," Hastings said during the New York Times DealBook summit.

Netflix launched a lower-priced, ad-supported version of the streaming service earlier this month.

(Reporting by Dawn Chmielewski in Los Angeles; Editing by Lisa Shumaker)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

'Shock to the education system': This AI chatbot is already writing school essays and could rewrite the future of learning
Opinion: To AI or not to AI? It’s not even a question Hollywood is embracing artificial intelligence
Opinion: AI voices for audiobooks is a strange new trend
How 'crunch' time and low pay are fuelling a union drive among video game workers
Preview: 'Like a Dragon: Ishin!’ brings an old formula into the past
Elon Musk says to attempt Starship launch in March
Advisory firm Innisfree sues Musk's Twitter for $1.9 million in unpaid bills
ChatGPT makers launch tool to spot AI texts – but it's not very good
U.S. judge denies FTC request to stop Meta from acquiring VR firm Within
Two minutes a day to be authentic: Does BeReal show real life?

Others Also Read