Reed Hastings

CEO, Netflix

Birth DetailsOctober 8, 1960 | Boston, Massachusetts

NationalityAmerican

LeagueEntrepreneur

EducationBA, Bowdoin College; Masters, Stanford University

Net Worth$5.1 billion (As of March 27, 2021)

Reed Hastings' Assets:

Netflix

Reed Hastings' Journey so far ...

Reed Hastings graduated in Mathematics from Bowdoin College in 1983 and went to teach in Swaziland as a member of the Peace Corps. He returned after two years and joined Stanford University from where he completed his masters in Artificial Intelligence in 1988
He worked as a software engineer with various technology companies before starting Pure Atria Software, where he was CEO, in 1991. In 1997, Rational Software Corporation acquired his company
Later in 1997, Hastings used the capital from the sale of his company to start Netflix; initially, the company rented out DVDs by snail mail to customers in the US
The entrepreneur and technologist took the company public in 2002 and raised $86 million from the IPO, valuing Netflix at around $500 million. Over the past two decades, the stock has gained a staggering 34,000%
In 2007, he guided Netflix in launching streaming service and within a few years, the Los Gatos, California-based company, became the world’s largest online video-streaming company, with paid memberships in over 190 countries
Netflix forayed into original programming and has since built up a content bank of documentaries, movies and TV shows across a wide variety of languages, making Hastings one of the most powerful players in the media and entertainment industry
Hastings led Netflix in transforming the way people watch movies and television across the world
Under the leadership of Hastings, Netflix entered India in 2016 and became profitable in the very first year of its operations. India is today one of Netflix's largest markets

Before you go ...

The co-founder and CEO of Netflix is an educationist and a philanthropist. He has served as a board member of many non-profit organizations and was president of the California State Board of Education from 2000 to 2004
In June 2020, he and his philanthropist wife Patty Quillin contributed $120 million to fund scholarships for students of historically black US colleges
He has served as a board member of top US technology companies like Microsoft and Facebook

Last Updated: 27/03/2021

Reed Hastings News

White House says zero chance Biden will withdraw, after POTUS says 'he screwed up'Joe Biden is "absolutely not" pulling out of the US presidential race, his spokeswoman said Wednesday, as pressure mounted following his disastrous debate performance against Donald Trump. Biden has admitted he performed poorly in the debate, and was blunt in a radio interview recorded Wednesday with Wisconsin's Civic Media.
Netflix co-founder becomes one of the biggest Democratic donors to call for Biden to step asideReed Hastings, Netflix co-founder and prominent Democratic donor, publicly called for President Joe Biden to step aside from the Democratic presidential ticket, urging a stronger leader to face Trump in the upcoming election. Hastings, a major supporter of education reform and racial justice causes, has been vocal about his concerns, echoing private sentiments among Democratic megadonors. Despite Biden and White House officials affirming his intent to stay, Hastings' stance underscores growing divisions within Biden's support base. Known for his philanthropy and executive role at Netflix, Hastings remains influential in both politics and his personal interests, including skiing.
Netflix: See the titles to get added on streaming platform from July 17 to 23, 2023Netflix has been updating its platform regularly with new titles of movies, TV shows, documentaries and games every month. Check out the list of the titles, which will get added to the streamer in the week of July 17 to 23, 2023.
Netflix: What will get added to streaming platform from July 3 to 9, 2023? See complete listA large number of new and old titles of movies, TV series, documentaries and games are added by Netflix every month. Let us see the titles, which will come up this week.
‘The Witcher: Sirens of the Deep’ to premiere on Netflix. Here’s everything we knowNetflix is, as per reports, working on yet another ‘The Witcher’ anime — “The Witcher: Sirens of the Deep”. While there’s no release date, at least (for now), it may hit the platform in late 2023 or 2024.
Planning to embrace entrepreneurship in your 40s? Here is why this is the best timeEntrepreneurship is not just for the young innovators in their 20s, starting a business in one's midlife has its own advantages. Having years of experience in the industry increases the chances of having a solid business plan, knowing the market, and building a strong network that can be a game-changer for business growth. Financial stability and self-awareness also put midlife entrepreneurs in a better position to handle various challenges.
No more red envelopes: Netflix to end DVD-by-mail businessThe company said its DVD rental business had been shrinking and it will not be able to continue to offer quality service. Netflix will ship the last discs on Sept. 29.
Netflix reports mixed earnings, to wind down DVD rental businessThe revenue figures met the company’s forecast of 4% growth at $8.17 billion.
‘Netflix was almost dog food!’ In throwback post, Marc Randolph says he pitched personalised shampoo, custom sporting goods to founder Reed HastingsThe birth of Netflix was nothing short of drama and entertainment, much like the service it provides.
‘Company is a team, not a family.’ How Reed Hastings built a fail-proof work culture at Netflix with ‘no rules, unlimited vacations’The 'Netflix Way' was investing in 'star employees' and building a culture that valued feedback & trust.
As Netflix co-founder pulls back, can CEOs preserve the 'Netflix Way?'After Reed Hastings stepped down as CEO on Thursday, Netflix's new co-leaders - Ted Sarandos and Greg Peters - will be charged with maintaining a culture that has become a Silicon Valley standout.
Netflix co-founder Hastings steps down as CEO as company adds subscribersHastings made his exit as Netflix said it added 7.66 million subscribers in the fourth quarter, beating Wall Street forecasts of 4.57 million with help from "Harry & Meghan" and "Wednesday" in the battle to attract streaming television viewers.
Netflix co-founder Reed Hastings steps down as CEO as company adds subscribersSarandos and Peters will share the title of chief executives, with Hastings serving as executive chairman. The change is effective immediately, representing the culmination of a decade of succession planning by the board. Both Peters and Sarandos were promoted in July 2020 amid a challenging time for the company.
Netflix plans to put an end to password-sharing feature, here’s everything you need to knowNetflix, the giant streaming platform has finally decided to address the password sharing feature which has reportedly caused company revenue loss.
Silicon Valley leaders welcome Elon Musk's management of TwitterMeta Platforms chief executive Mark Zuckerberg on Wednesday said he was keen to see how Elon Musk's management of content moderation on Twitter would fare, arguing it was good for platforms to take different approaches.
Netflix to acquire Australian animation studio Animal LogicThe acquisition, which requires regulatory approvals, was announced just ahead of Netflix's quarterly earnings report. Netflix said it expects the deal to close later this year.
Netflix cofounder helps direct startups amid tech turmoilRather than retire and live on his Netflix fortune when he left the company in 2003, Marc Randolph decided to counsel early-stage startups and their founders. He also worked as a part-time executive at data analytics startup Looker, which Google bought for $2.6 billion in 2019.
OYO boss lists 3 books that shaped his journey, says he drew inspiration from works of Netflix, PayPal foundersRitesh Agarwal said that the books helped him in his journey as an entrepreneur.
Elon Musk is now highest-paid CEO, followed by Tim Cook: ReportAfter Musk, the 10 most highly compensated Fortune 500 CEOs of 2021 are all tech and biotech CEOs, including the heads of Apple (Tim Cook), Netflix (Reed Hastings), and Microsoft (Satya Nadella).
Is the advice more important, or the advisor?As investors, we need to ask ourselves how many times we resort to resulting — thinking that we are smart investors just because we made money.
Indian content script could go awry as Netflix cuts costsMost of content producers ET spoke with were of the view that Netflix had already started cutting budgets of the films and shows, and the new announcement could make things tougher.
As streaming competition heats up, WarnerMedia gains 3 million HBO customersThe increase in viewership comes after a tumultuous quarter for Netflix, which saw its subscriber base shrink for the first time in a decade.
Nice uptick in user engagement in India, says NetflixAccording to Netflix chief operating officer (COO) Greg Peters, the subscribers in India are largely behaving similar to the subscribers they have added over the last 12 months.
Jeff Bezos tweets old article predicting Amazon's failure; Elon Musk has a bit of funUS financial weekly Barron's coverpaged on its May 31,1999 edition a story, 'Amazon.bomb', which called Amazon CEO Jeff Bezos "just another middleman" and suggested his model was not going to be a real winner.
Jeff Bezos posts old news clip that said Amazon would fail; Musk has a cheeky replyAlongside the clipping, Bezos wrote, "Listen and be open, but don’t let anybody tell you who you are."
90 more Indian Netflix originals in the pipeline: Reed HastingsHastings Reed, the founder of Netflix has said that the platform has 90 more original Indian productions in the pipeline apart from a 70 already running, in an interview to TOI.
Netflix India head of original films Srishti Arya quitsIn the last one year, Netflix has seen exits of multiple India executives, including Swati Mohan (director, marketing) and Nimisha Pandey (director, International originals) in November; Aashish Singh (director, original films) in October; and Divya Pathak (director, publicity) in September.
Sharing your passwords? Streaming services want you to stopPassword sharing is estimated to cost streaming services several billion dollars a year in lost revenue.
Netflix's Reed Hastings exercised $612 million from stock options in 2020Netflix, which crossed 200 million subscribers last year as people sought entertainment from home during the Covid-19-imposed lockdowns, saw its shares rise more than 67% in 2020.
Netflix focused on getting its content fit right in India: Co-founder Reed HastingsIndia and Brazil are the only two markets where the production of content is currently shut down due to the Covid-19 pandemic, Netflix co-founder Reed Hastings says during a post-earnings call.
Netflix India revenue doubles on mobile plans, local showsVideo streaming platform Netflix has doubled its India unit revenue in fiscal year 2019-20, chiefly on the back of Indian content and a cheaper mobile-only plan.
Netflix wants to stand for diversity of content, says CEO Reed Hastings“We want to be thoughtful and cooperative, but we also want to stand for a diversity of content and being able to have choices that sometimes the government may not be completely comfortable with,” Hastings told ET in an interview.
How Netflix’s Reed Hastings conquered Hollywood with a PowerPoint presentationNetflix’s high-performance culture was forged during a round of layoffs in 2001, just after the dot-com bubble popped. The company needed to raise money to prop up its unprofitable business and had to fire a third of its staff to stay solvent.
Netflix founder Reed Hastings, wife Patty Quillin give $120 mn for scholarships at historically black US collegesThe couple said they hoped the scholarships help "reverse generations of inequity in our country."
Quarantine and chill: Netflix gains 16 mn new subscribersNetflix more than doubled the quarterly growth it predicted in January.
Netflix tests multi-month packs in India to woo new usersAccording to sources, Netflix has started testing multiple months subscription plans (three, six and 12 months) that will be offered at a discounted price.
Netflix to spend Rs 3000 crore on content in IndiaNetflix has invested Rs 3,000 crore in India in 2019-2020, Hastings revealed. He said the streamer is ramping up original Indian content, something that will be visible to audiences in coming months. "We launched in 2016 and we have continued to invest. So we have a lot of content from US, UK and Spain. We are developing our Indian content here.
No room for Netflix or Amazon? Apple TV Plus comes to India at global lowest price, Rs 99 a monthIndians spend an average of 70 minutes a day on online video platforms.
Boredom, 12-3 job at Amazon pushed Binny Bansal to start FlipkartBansal exited as CEO last year under controversial circumstances.
50% salary hike, millions in stock options: Netflix's top executives are minting millionsNetflix Inc. gave Chief Content Officer Ted Sarandos a 50 percent increase in salary for 2019.
Netflix India makes profit in its 1st yearWhile the company entered India in January 2016 as part of its global roll out, Netflix was registered as a limited liability partnership (LLP) in the country in April 2017 when it started commissioning content.
Netflix mulls low-cost plan to grow in IndiaNetflix is currently the most expensive video-streaming service in India, with monthly subscription plans starting at Rs 500, more than double of its rivals in India.
Netflix may tweak premium model for Indian marketThe US-headquartered company, which currently derives most of its streaming revenue from outside the US, may enter lower-priced segments to attract new subscribers.
Old-school cool! Uber CEO Dara Khosrowshahi still votes for cable TVFor this top boss, cable TV is a fond childhood memory.
Every country needs a Jio: Netflix CEO Reed HastingsCalifornia-based Netflix said India can contribute content to its global audience and will increasingly take its original series to international markets.
India is a key part of international subscription growth: NetflixReed Hastings sat down with ET during his visit to India for the Economic Times Global Business Summit to talk about progress it has made in India, future of the studio business and advise for startups.
We got lucky due to Jio, says Netflix CEOData rates fell like nowhere else in the world; we’ll remain premium for two years, says co-founder, chairman and CEO Reed Hastings.
The next 100 mn users of Netflix will come from India: Netflix CEO Reed HastingsHastings said that in this context, India is a prominent market for Netflix at the moment.
Netflix’s next 100-m users from India: Reed Hastings, Chairman, NetflixNetflix also announced three Indian original productions — Ghoul, Leila and Crocodile — besides four productions already under work which include Sacred Games, Selection Day, Again, and Bard of Blood.
India a bigger market for paywalled content than China: Netflix CEO Reed HastingsPeople can use Netflix on their mobile phone or TVs, by downloading or streaming and the shows that we have like, Altered Carbon, Sacred Games and a special filmed in Mumbai on the underworld means there is so much more exciting content coming.
A robust Internet can unleash the vibrant entertainment industry for India: Reed Hastings Co-founder, NetflixInternet entertainment is simple, but revolutionary, and provides consumers choice and control, freedom and flexibility.
You can watch 25 hours video with 1 GB data: Netflix CEO Reed Hastings"Now we can get it down to 200 kilobits, so you can get 25 hours of viewing with 1GB of data. We are further trying to bring it down to 100 kilobits," Hastings said.
Netflix to invest in several avenues to expand its presence in IndiaNeflix on Monday announced that its service will now be available on the DTH platforms of Bharti Airtel and Videocon.
Netflix expansion in India is evolutionary: ExpertThe entry of streaming pioneer Netflix in India is evolutionary in nature though its inaugural price is a bit on the higher side for what it offers.
PM Narendra Modi to meet Salman Khan, the educator not the movie starSal Khan's success in distance education has made him a top draw in education gig in an America that is chafing at its receding leadership in the knowledge business.
Here are the summer jobs 19 super successful people had before they were famousFrom taming lions to selling bras, these famous people things that are outrageous in many ways.
The 30 most successful Stanford alumni of all timeThis year, Stanford topped our lists as the best and most selective college in the US. As such, it attracts an extremely talented and intelligent study body.
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