Ted Sarandos

So for us, it was being able to accelerate our existing business model, our success story with or without it.

And we figured out what the price point was.

And one of the things that I've been doing at Netflix since the beginning is valuing content and figuring out what is it worth to us?

What is it worth in the market?

We did all the work, we came up with the price point you talked about, and we thought if we can buy it for that, that would be good for the business, good for our shareholders, good for our members, but a price significantly higher than that, it wouldn't be.

And I think typically when people get into these deals, there's a lot of emotion, there's a lot of ego, and you don't want to lose, you put in a lot of work.

And when they came back with this significantly higher price point, it was more than we were willing to pay, and we just said no.

And like I said, we have built to where we are today organically, and we have tons of headroom to continue to do that.

And this would have just been a little quicker.

I think like every other technology advance in entertainment and storytelling, it's made the business better and bigger by presenting more opportunity.

And I think creators today are going to use it.

I've seen this evolution from the beginning of friends who are writers who said, we're going to do everything we can to stop AI.

It's going to destroy our careers to the point where they're using technology

Claude as a writing partner today.

And they basically train it to say, this is how I write.

This is how I think about character.

This is how I move story.

Here's everything I've ever written.

Now, you're not allowed to write anything for me, but you can bounce ideas off of me all day long.

And it makes them a better writer.