- Getty Images for The New Yorker
Things are not looking good for Netflix in China, CEO Reed Hasting said at The New Yorker’s TechFest on Friday.
In January, Netflix announced a gargantuan expansion into 130 new countries on a single day, bringing it to every major market in the world – except China.
Many expected Netflix’s entrance into China would be a matter of months, not years, as companies like Disney had already done well in the country.
That has not turned out to be the case, and on Friday, Hastings was candid about how hazy Netflix’s China ambitions are.
“We are not sure,” he said. “It doesn’t look good,” he followed. Hastings cited two cautionary tales: Disney and Apple. Both these companies are “very good” at working with China, Hastings said, and both saw their movie services shut down a few months ago.
“We are really focused on the rest of the world,” Hastings said. “There is so much opportunity for us … That’s what we are focused on.”
Translation: Don’t expect Neflix in China any time soon.