Netflix CEO Reed Hastings has built a business on binge watchers — which may explain why the company isn’t having as much luck with movies as it is with television shows.
“Binge viewing is a very novel thing that we pioneered, and there’s no movie equivalent,” Hastings explained onstage last week at Recode’s annual Code Conference in Southern California.
Hastings also talked about why Netflix isn’t chasing after live sports rights, and the potential competition he may soon face from Facebook, which is pushing into its own original videos. (Hastings is on Facebook’s board.)
“There’s not a big conflict yet,” Hastings said. “We’re not bidding on the same shows. So not a big deal there.”
You can watch the entire interview here:
This article originally appeared on Recode.net.