On the heels of better-than-expected quarterly results, Netflix CEO Reed Hastings expressed confidence that his company will be able to continue to ride the wave of Internet TV and accelerate its growth.
"It really depends on the content," Hastings said. And while he stuck with the company's line that the potential market for Netflix in the US is 60 million-90 million, up from the current 47 million U.S. subscribers, "really, it's every human being."
One factor that will help drive Netflix's growth: New partnerships with cable companies that will be included within set top boxes, with a deal with Liberty Global overseas, and a partnership with Comcast rolling out now.
"It definitely helps to make Netflix convenient and accessible," said Hastings. "For a cable company what it does is it gets consumers to stay on their set top box as opposed to switch to an Apple TV or smart TV."
Hastings dismissed potential concerns about growing content costs as Netflix shifts away from licensing deals to creating more of its own content, which requires more upfront costs, but has greater potential rewards.
"I think everybody looks at a business like ours and says, 'Are they going to be able to finance all those great investments?' But we have a market cap over $50 billion and $3 billion-$4 billion of debt. So it's like having a million dollar house and having $50K of debt on it," said Hastings.
"It's really not that scary on a million dollar house."