Netflix CEO remains wary of cable's strength

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."

For more:
- The Atlantic has this story

Special Report: Cable in the first quarter of 2011

Related articles:
Netflix says it's not in the show business
Netflix ready to pass Comcast as number 1 subscription service

Suggested Articles

Altice USA is giving premium pay to its customer-interfacing employees during the coronavirus crisis, but not all cable technicians will qualify.

T-Mobile this week wrapped up the lengthy process of acquiring Sprint. With the deal done, the company may pick up where it left off on video.

The Hulu app is starting to roll out across the Comcast Xfinity X1 platform after last month showing up on the Xfinity Flex platform.