Netflix CEO addresses Cannes controversy: 'Sometimes the establishment is clumsy'

Netflix will be pushing the envelope more as the streaming giant plans to take on bolder decisions when it comes to choosing properties that they greenlight according to company CEO Reed Hastings. "Everything Amazon does is so awesome".

"We saw higher subscription rates to Netflix from Amazon Prime than regular customers".

And of course that's just the thing: net neutrality may not matter to Netflix now that it's big enough to go toe to toe with companies like Verizon and Comcast, but it's still damn important for the Netflix of tomorrow - companies that will be forced to do business over already uncompetitive broadband networks as an axe looms over almost all meaningful consumer protections. "We want to focus on how we can be the embodiment of entertainment, joy, movies, and TV shows".

Hastings went on to add that content acquired by Netflix is "fundamentally a creative bet". The plot of a "kidnapped woman in a bunker most of her life tries to navigate 21st century life" (Unbreakable Kimmy Schmidt) didn't necessarily seem like a home run but Netflix took a risk and it worked.

Boorstin pressed Hastings for details about Netflix audience numbers but to no avail. "It's like they're trying to repeal the basic laws of business", he told CNBC. "They got the festival director to threaten to pull us out, which got a bunch of press". Instead, the Netflix founder offered a clue about how the company deems its programs failures.

"As we grow the membership, we want to grow the content budget". "They're trying to be Walmart". Much like Netflix, Amazon has been acquiring rights to original TV shows and movies in recent years, though it's still expected to spend about $1.5 billion less on original content than Netflix's expected $6 billion this year.

In the interview, Hastings also said Netflix is continuously investing in artificial intelligence - in order to improve recommendations. "We can't try to be them".

France in particular has a rule that states movies that play in theaters must wait three years before they can pop up on a streaming platform. But, Hastings said the debate will not last forever, as he predicts the eventual demise of traditional theatrical "windows", the periods between a film's theatrical release and its availability for home-viewing online or in the form of a Blu-Ray/DVD.

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