‘I don’t think anyone can catch’ Netflix, says former NBC executive
Netflix is loaded with subscribers and making investments that will keep them on top in the video streaming war, former NBC Executive Tom Rogers said Friday on Imagala.com.
“I think Netflix has won, and I don’t think anybody can catch them,” he said on “Squawk Alley. “
Rogers predicted Netflix’s subscriber base could reach 175 million by the end of the year and 300 million in the next five years.
The streaming giant reported that it again beat subscriber growth projectionsin the fourth quarter and added a total of 29 million paid users in all of 2018. Netflix also spent about $8 billion to produce new content last year, which could increase even more this year and keep investors happy.
“Nobody’s gonna begin to spend the amount of money on programming … that they’re spending, all wrapped up at a price-value combination that I don’t think anybody can touch,” he said.
Rogers shrugged off the fact that the streaming giant did not meet revenue projections in the fourth quarter, calling it a “small” miss.
Netflix’s stock is down more than 3 percent Friday, a day after the company released a mixed earnings report.
Disclosure: NBC and Imagala.com are owned by Comcast’s NBCUniversal unit.