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Netflix Cancels 'Sense8' As CEO Encourages Creative Risks

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Stay calm - but Netflix's top dog says he wants to cancel more of their original shows.

"You should have more things that don't work out, you have to get more aggressive", he said Wednesday at the Code Conference in Rancho Palos Verdes, Calif.

Hastings wants the streaming site to take more risks and believes that by doing so, they can produce more creative and successful shows like 13 Reasons Why. Everything Amazon does is just so awesome... Since then, they have branched out to do more series and films tackling issues that normal broadcast stations might not be too keen on taking. That said, Amazon is "helping to grow the industry because they are investing in the content".

He repeated, "They are awfully scary. But I think even if they unwind the Title II rules, my guess would be that the net neutrality principles are still followed". AMZN share are trading around $993.

Amazon is an "awfully scary" competitor, but Hastings is not sure if it is Netflix's biggest threat.

And of course that's just the thing: net neutrality may not matter to Netflix now that it's big enough to go toe to toe with companies like Verizon and Comcast, but it's still damn important for the Netflix of tomorrow - companies that will be forced to do business over already uncompetitive broadband networks as an axe looms over almost all meaningful consumer protections.

"We saw higher subscription rates to Netflix from Amazon Prime than regular customers".

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Reed Hastings, CEO of Netflix, recently had a big public fight with the French movie theater industry at the Cannes Film Festival. "Mostly, it's how many people watch". The increasing competition hurts, but internet viewing is also becoming more popular with everyone.

Hastings was asked if Netflix wants to leverage its subscriber base for something other than the company's core content offering.

It's an excellent PR spin to add the caveat that there are just too many good shows, but the sentiment is still there: Netflix needs to cut back and focus on higher quality.

Netflix is nearing saturation in the U.S.

Hastings says that, going forward, Netflix will increase its originals budget "a lot".

And in a bit of a surprise, Hastings offered a hint about how Netflix now determines success or failure.

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