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Netflix CEO Says Company Decided 'Not To Integrate ' With Apple

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Netflix CEO Says Company Decided 'Not To Integrate ' With Apple

Streaming video provider Netflix, Inc. (NASDAQ: NFLX) made a decision not to allow its TV shows and movies to be shown on a future rival streaming service operated by Apple Inc. (NASDAQ: AAPL).

What Happened

Netflix CEO Reed Hastings told reporters at its office in Hollywood the company made a decision "not to integrate" with Apple's service, CNBC reported. Netflix doesn't want to "get too distracted" with what its competitors are doing but still wants to "learn lessons" from any of their missteps.

Other media content makers that already offer a streaming platform like CBS Corporation (NYSE: CBS) may sell their content to be included in Apple's platform.

Why It's Important

Netflix is up against an "amazing, large, well-funded" company in Apple with "very significant efforts," Hastings said. The company will likely "come up with some great ideas" the executive says will have him "envious."

Consumers may end up the ultimate winner though as new competition helps create "a better industry," CNBC also quoted him as saying.

What's Next

Hastings also fielded questions related to its ambitions to enter the Chinese market. The CEO said he expects Netflix and other U.S.-based technology companies to be blocked in China "for a long time."

Netflix traded higher by 1 percent to $367.26 at time of publication.

Related Links:

Analyst: Video Service Highlights Apple's 'Law Of Large Numbers Problem'

Apple's Streaming Ambition Could Result In Disney CEO Iger Resigning From iPhone Maker's Board

Photo courtesy of Netflix.

Posted-In: Apple Streaming Video CNBC Reed Hastings streaming videoNews Tech Media Best of Benzinga

 

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