Reed Hastings

And so Netflix earns, depending on the country, like 5% to 10% of television viewing.

And so we've got a long way to go.

And as we say inside, we lose most of the time.

We don't win the majority of television screen time.

So then it's like, okay, what are the types of entertainment that we can do and how well can we do them to earn more time?

It's moving in gaming, unscripted content.

Initially, we were just film and not even in TV.

So, yes, we've expanded category by category to see where can we earn more time or do a better job than anyone else in entertaining our members.

Well, on Christmas, we had two NFL games, so I would say it is part of that.

It's one of the things that Greg and Ted have done because I was always very skeptical, not, of course, of the viewing, but that there could be a good long-term proposition there.

And they've proven me wrong and have found good models where it makes sense for Netflix, the company, and, of course, for all the members.

Well, look, F1's been working hard for 50, maybe 100 years, you know, building up.

So they deserve, you know, that lion's share.

Totally.

It is certainly true that when we set a show in a context and then the show works, as Drive to Survive did, then it popularizes that thing.

But it doesn't, like, bother us that they profit from it.

Any more than if we did a show that was set in farming and then all these people are growing apples.

It's like, okay.

In other words, we're looking to have incredible entertainment and F1 is an incredible context for that.

So it doesn't bother us that they bet on us and then we delivered.