GBS 2023: Netflix co-CEO Ted Sarandos will talk about business of entertainment

Entertainment undergoes changes every few years, just like everything else. What is produced and becomes popular is heavily influenced by public tastes and what is deemed acceptable at the moment. Technology at the time is another consideration. All of these modifications apply to movies, TV shows, and music. Even though they appear insignificant at the moment, developments in entertainment over the years are significant in hindsight.

One such platform that has emerged in the entertainment industry is OTT, especially with the introduction of Netflix. Since starting its global expansion in 2016, Netflix has completely changed how the world enjoys entertainment, from TV to movies to, more recently, video games. Netflix began as an online DVD rental service before pivoting dramatically to create content that is known and loved around the world.

Ted Sarandos, the current co-CEO of Netflix, who oversees the teams in charge of acquiring and producing all Netflix programming from around the world, said in the Global Business Summit of March 2022, that his journey began with Netflix when the company was just a DVD by mail company. A pioneer in the acquisition, distribution, and production of movies and television, Ted was honoured with the Producers Guild of America Milestone Award in 2019 and was included in Time Magazine’s list of the 100 Most Influential People of 2013.

While speaking at the Global Business Summit that was held in March 2022 last year, he also said that whatever vision Reed Hastings, the co-founder of Netflix, has currently, was ‘exactly the same’ in 1999, when he had his first encounter with him and Marc Randolph, the co-CEO of the company.

Since 2000, Ted has been in charge of all content operations, and in 2013, he oversaw the transformation of the business to the creation of original content such as ‘House of Cards,’ ‘Arrested Development’ and ‘Orange Is the New Black,’ among numerous others.

The Global Business Summit of 2023, which is going to be held on February 17 and 18, this year, will once again see Ted Sarandos speak about the entertainment industry and many other topics.

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Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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