Netflix co-CEOs Reed Hastings and Ted Sarandos on TikTok, Trump, the Obamas, upending the movie industry and how they're writing the company's next chapter
. The future is a beast, and Netflix keeps a beady eye on it, like the wily teens in a horror movie.
“Not getting the new thing, that’s the big risk,” Hastings tells me via Zoom. “So we should take more little risks, if that helps stimulate creativity.”, which is not a mogul’s brag-book but an earnest attempt to bottle Netflix’s business culture for a new generation of creative companies. It includes sayings like, “Farm for dissent,” “Sunshine failure,” and “Adequate performance gets a generous severance package” .
“Does creative quality on YouTube just go up and up and up so that eventually it meets [viewers’] needs?” he asks rhetorically. “Do we get out-competed by some combination of user-generated [content]?” Already, teens and preteens are less focused on TV and movies than the previous generation. “They tend to see it as a big yawn, they just don’t have the attention span,” Hastings tells me.
Hastings and Sarandos are Netflix’s double act: one a tech whiz based in Silicon Valley, the other a video-store clerk turned tastemaker who has long been the public face of the company as far as Hollywood is concerned. Hastings recently recognized Sarandos’s contributions by making him co-CEO of Netflix. “I don’t think co-CEO is the right strategy for every company.… But I’m already pretty far back in the limelight,” Hastings says with a chuckle.
The increased streaming competition does drive up the price of high-end talent, since Apple, HBO, Hulu, and Amazon are often throwing money at the same prestigious creators. (Hastings mentioned twice during our conversation that despite rolling out the red carpet for
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