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Netflix CEO Reed Hastings Makes the Time 100
Mon Apr 25, 2011 at 02:00 PM ETTags: Netflix, Reed Hastings, Industry Trends, High-Def Retailing, HD Streaming, High-Def Streaming, Streaming (all tags)
Hastings was named one of the most influential people in the world thanks to his big moves with Netflix.
This year, Netflix CEO Reed Hastings has made the Time 100 list thanks to his accomplishments with Netflix which have helped to redefine the way people think about streaming movies. He joins the list of influential people this year alongside Mark Zuckerberg, Julian Assange, Kim Jong Un, and Justin Bieber.
Reed says that he came up with the idea for Netflix after misplacing a video tape he had rented. After paying an astronomical late fee, he knew there had to be a better way. The solution for pricing came from the gym membership model - pay a monthly fee and use the service as much or as little as you want.
What started as a rent-by-mail service has transformed into the first streaming service to find mainstream success. It's going to transform again if Hastings has his way, starting with the company's first original series 'House of Cards.'
Source: Time
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