When it comes to cable, Netflix (Nasdaq: NFLX) CEO Reed Hastings resembles a savvy boxer who knows he's facing a bigger opponent with a knockout punch. Netflix may be racking up points at the moment, but cable could at any minute deliver a roundhouse that would lay the contender out flat on the canvas.
"Statistically, no one is dropping cable," Hastings said when drilled by the audience at the All Things D D9 conference. Despite claims that Netflix is leading the way--and encouraging--cord cutting, cable subscriptions, he reiterated, are not dropping. This in light of even more evidence: Netflix now has more customers (23.6 million) than Comcast (22.8 million).
"It's not happening," he said. "Maybe with some kids, but once kids get a job, they hook up (to cable). Maybe in 50, 100 years it's an issue."
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