Netflix CEO: No big offer if Apple can make Tv set

Netflix CEO Reed Hastings doesn’t appear to be also worried about Apple muscling into his territory, even if buyers are.

Netflix shares fell much more than 8% on Tuesday subsequent stories that Apple ( AAPL , Tech30 ) may well be thinking about a shift into first programming, which would problem streaming services like Netflix and classic Television networks like ABC.

“Other individuals are performing shows too,” Hastings instructed CNN on Wednesday. “HBO is performing displays, Fx are doing shows … so the fact that additional tech organizations might be undertaking exhibits, which is actually not that huge a offer offered the overall amount of displays getting produced about the entire world.”

It truly is not obvious just what Apple has prepared. But one point is for specific: the organization is reaching out to leisure executives for confidential talks.

An executive common with the outreach to Hollywood advised CNNMoney that Apple is evaluating no matter whether it must commence to bankroll unique Tv set displays and movies. At the exact same time, it could turn into a deep-pocketed new consumer of content from Hollywood studios.

The source cautioned that it is “really early days.”

Apple could just be seeking to expand what it’s previously carrying out with Apple Songs, possibly by funding tunes documentaries or live performance films.

But the Hollywood conferences occur at a time of powerful competitors for viewers interest and subscription bucks.

Hastings stated Wednesday that Netflix ( NFLX , Tech30 ) is centered on creating “wonderful shows, and we are executing.” He cited the example of “Narcos,” a new program that explores the historical past of cocaine.

Netflix shares have a lot more than doubled this yr. But the inventory sank much more than two% Monday, right after the organization announced it experienced made a decision to allow its distribution deal with Epix expire , which contains well-known motion pictures from the studios Lionsgate, MGM and Paramount. A number of several hours following Netflix’s statement, rival streaming video clip support Hulu said it had inked a deal with Epix.

Netflix is launching in Japan this 7 days, and Hastings mentioned he is doing work on ideas to be in every place in Asia by subsequent calendar year — such as China and India.

— Brian Stelter and Hope King contributed reporting.

Tagged as: