Ted Sarandos

Or am I watching Saturday Night Live?

So are we competing with them?

If I was watching NBC, of course we're competing.

So I think we're trying to constantly win those moments of truth.

When you sit down on the couch and pick up the TV, press the button to choose what you're going to watch, I've got to entertain you.

If they're doing it on the TV, I do.

And I would tell you this, I think that people, what's really remarkable, if you look at the consumption of professional content, TV series, films, on phones, that consumption's been remarkably flat for about seven years now.

So you are seeing a lot more video on mobile, but the professional content on mobile is about 2%, and it's been steady.

And what's more amazing is through the entire advent of the internet and tablets and phones and YouTube and all these free options even, that television consumption and movie watching on bigger screens is remarkably stable too.

So people are multitasking.

There's all these, you know, to describe this, to make it make sense, you have to think, well, how is that possible?

Well, they're doing it at the same time.

And so, and I do think that there's one of those things we say, well, people don't have the attention span for TV anymore.

Well, wait till the new season of Wednesday comes out.

And people sit in front of their TV and watch eight hours of Wednesday.

Happens every season.

Well, look, we're about 9% of total TV watching right now in the U.S.

in our most mature market.

We're about 45% penetrated in our addressable markets.

And growing that penetration and growing share in what we're doing is a big business.