Netflix, Inc.(NASDAQ: NFLX) Is Missing A Trick By Ignoring VR
CEO Reeds Hasting sees VR as only an interactive gaming experience, which came about as the evolution of, console gaming. He currently has no keen interest to bring this experience to Netflix, Inc. (NASDAQ: NFLX). Hollywood experiments the likes of The Martian VR have clearly showed that there is an opportunity for VR in Netflix though Hasting does not seem quite interested in it.
Recent development in Netflix especially after it expanded to serve about 130 countries has clearly indicated that Netflix is interested in developing and serving wider communities. Most people would argue that Netflix should grasp the opportunities available for innovative story telling but according to Hasting, this is not part of what they are planning to do currently.
Hastings was particularly interested in future streaming formats. He is enthusiastic about increasing high resolution. He noted that by the end of this year, they will be introducing HDR (High Dynamic Range) video to Netflix. Currently, Netflix is the leader and has been in the adoption of online 4K production and streaming. Most of the shows on Netflix have been produced in these hi-res video specs. Hasting noted that the 4K project was going extremely well, and the expected introduction of HDR will take streaming to the next level.
Hastings gave the example of looking at the sun in real life and your eyes get burned, but when you look at the same sun on a TV, it does not hurt. This is because TVs are not as bright as real life. Hasting noted that this aspect of brightness is what he is keen to introduce in Netflix. With this type of streaming, viewers are expected to be worried about their internet bandwidth, but Hasting stated that the overhead is only marginally than the 20mps used for 4K.
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From the conducted interview, it was clear that VR is currently not in the mind of Hasting as he is fully focused on introducing high dynamic videos into Netflix, Inc. (NASDAQ: NFLX). This will be something to look for but maybe after this Hasting will consider VR.