US streaming media giant Netflix aims to be in one-third of Australian homes in the next five years.
And CEO Reed Hastings says that in 10 to 20 years few will be watching television, with most viewing done over the internet.
“What we’ve seen in the UK and Canada and the US is that, from when we start, it takes five to seven years to get one third of the households,” Hastings told the ABC.
“So we would hope to have that kind of success here in Australia over five to seven years.”
Sydney software developer Kenneth Tsang crunched the numbers and discovered the Australian version of Netflix has a little over 1000 titles compared to the 8499 titles the US streaming service offers.
Hasting agreed there’s a lot of difference in absolute numbers.
“But in terms of the amount you can watch and enjoy of our best content, we have all of that here in Australia,” he said.
Netflix is competing in Australia with Stan, a $100 million Fairfax Media and Nine Network joint venture, Presto, a Foxtel and Seven West Media service, and locally listed Quickflix.
Business Insider Emails & Alerts
Site highlights each day to your inbox.