Netflix Confirms It Won’t Be Part of Apple’s Upcoming Video Service
Apple is set to hold a special event next week, where the company is expected to unveil a new video service. The iPhone maker has been spending big to produce original content for their alleged subscription video service.
Onc company that won’t be part of Apple’s video plans? Netflix. The streaming video service’s CEO, Reed Hastings, confirmed this at a press event today in Los Angeles, California.
According to Recode, Hastings said “Apple’s a great company. We want to have people watch our shows on our services.”
Apple and Netflix aren’t intertwined when it comes to video. Netflix is not a part of Apple’s existing TV app, plus recently, subscribing to Netflix billing with your iTunes account was axed back in December.
Did the removal of iTunes sign-ups for Netflix affect the streaming video company? Not at all, according to Netflix executive, Ted Sarandos. The content leader “shrugged” when answering a question regarding this impact, with Sarandos saying Apple was not an important revenue source for the company.
Hastings said competition is good for Netflix, adding “These are amazing, large, well-funded companies … but you do your best job when you have great competitors.”
The Netflix CEO also acknowledged they are actually a media company, not a tech company when asked about the proposal of U.S. lawmakers to regulating tech giants.
“We’re really mostly a content company powered by tech,” said Hastings, citing Netflix spends roughly $10 billion USD on programming, but only $1.2 billion USD on technology.