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Netflix wants linear TV to die. CEO Reed Hastings has been banging the TV murder drum for more than 8 years now, and in the investor call today, he reiterated his belief, confidently saying that Netflix was in a great place because linear TV would be dead in “5 to 10 years.”
Hastings is financially incentivized to say this. One of the biggest competitors for the largest streaming service on the planet is the set of totally free streaming channels that beam into any TV with an antenna, and their costlier friends on cable TV.
Netflix needs linear TV to die because it needs the streaming holdouts still using linear TV. It shed a whopping 1.3 million subscribers across the US and Canada in the last three months, according to its 2022 Q2…