Currently controlling around 8% of U.S. television watching, Netflix envisions a day when that share rises to nearly a quarter ... and the platform has a massive global hit every week.
This declaration was a key highlight last week when Bloomberg interviewed Netflix Co-CEOs Ted Sarandos and Greg Peters, the day after co-founder Reed Hastings finally stepped up and aside to an executive chairman role and installed the latter in his place.
Discussing the platform's global and domestic growth situation, Peters noted that despite its deep penetration into the U.S. market, Netflix accounts for less than 10% of TV watching.
Could that share grow to as much as 25%?
"For sure," Sarandos responded. "When you say one service, that's coming up out of a media landscape that was very specialized. The networks had identities and programming. We program into all those verticals, which gives us the ability to do quality at scale across every genre of entertainment and globally."
A service that once tried to be HBO, he added, now wants to be a broad tent that's "equal parts HBO, AMC, FX, the Food Network, HGTV, Comedy Central and Lifetime."
Neither executive directly responded when asked if Netflix could ever get back to a day when it's adding 15 million to 20 million subscribers a year in the U.S. and Canada. But the executives seem to think that the platform's content could become even more engaging.
Meanwhile, Peters suggested that 2021's Korean series phenomenon, Squid Game -- Netflix's most watched show ever, capturing around 1.7 million viewing hours in its first 28 days on the platform -- could be a more repeatable thing.
"We're just getting started to make Squid Game not an unusual thing, but basically something that happens literally every week," Peters said.
Again, you can read the full Bloomberg Q&A with Sarandos and Peters here.
