Netflix Chief Content Officer Ted Sarandos said he believes people will still pay for more streaming subscriptions in order to access the shows and movies they want amid the launch of new streaming services from Disney and other companies.
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Sarandos spoke at SeriesFest in Denver, Colorado on Saturday and answered questions on a slew of topics about Netflix and its streaming service competition, which include Disney+ and Apple TV Plus. Comcast and WarnerMedia are also slated to launch their own streaming platforms by next year.
Sarandos said what’s different between all the services is the content they offer to consumers.
“The thing that’s interesting about all these upcoming services, as well as the services that are in the market today, is that mostly they have none of the same programmings,” Sarandos said during a Q&A. “Nothing that’s on Disney+ is going to be on Netflix and nothing that’s on Netflix is going to be on the [Comcast and WarnerMedia services]. They’re going to be very unique.”
Sarandos said people will sign up for Netflix if they are looking for television shows and movies found exclusively on its service and add on other platforms if they want other content. He continued, saying consumers will “very likely” add on more streaming services to access what they want.
Netflix has become one of the top streaming services in the industry, remaining ad-free while increasing the monthly subscription cost from $8.99 to $12.99 in the last five years. When asked whether the gradual price hike would affect people signing up or continuing their subscription, Sarandos said he thinks more in terms of value.
“I honestly think about it not in terms of price but in terms of value. So if people are getting the value for the dollar, they should track each other really closely,” Sarandos said.
He added that the Netflix subscription is “still relatively cheap” when looking at the platform’s growth over the years.