Netflix CEO Says Broadcast TV Will Be Dead By 2030
Reed Hastings, CEO of media streaming company Netflix says that the current model of broadcast TV will be non-existent by the year 2030.
While speaking in Mexico City at at an industry event, Hastings told reporters that he believes the current TV system where channels are bundled into free and premium cable channels is becoming obsolete.
Hastings was quoted saying: “It’s kind of like the horse, you know, the horse was good until we had the car. The age of broadcast TV will probably last until 2030.”
Recent data suggests Netflix garners more than a third of all internet traffic during peak periods in North America.
Netflix lives in more than 34 million households across the U.S., which is comparable to many television networks’ reach.
Do you still watch TV broadcast in the conventional way, or do you consume your viewing content online now, or via various streaming sources?