Netflix chief says half of TV views to come from web in 10 years

Netflix chief executive Reed Hastings said at the UBS Annual Global Media and Communications Conference this week that half of all TV viewing will come from the internet in 10 years’ time.

The comments come as Netflix is enduring a tough year. Having attempted to restructure the company’s products, Hastings has endured backlash from customers and a share price that has fallen 77% in the past year.

At the conference, Hastings said one of the biggest losers from the coming decade will be traditional television.

“It’ll be declining like land-line telephony… To some degree we’ll look at broadcast in 20 years as being like (telephone) party lines.”