Reed Hastings, who stepped down as the CEO of Netflix yesterday after two decades, had a momentous 2011, when he separated the streaming business, launched four years previously, from the company’s DVD-by-mail service. In the immediate aftermath of the separation, Netflix lost 800,000 subscribers and its stock nosedived. However, as we know now,
Mr Hastings would go on to have the last laugh as he and Netflix converted a futuristic idea into the present.
An equally momentous thing happened for Netflix the following year, when it agreed to caption all its shows — a move that had to be completed by 2014.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper