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Source: Fortune.com
Summary
Netflix co-CEO Ted Sarandos testified before the Senate Judiciary Committee, rejecting claims that the company’s merger with Warner Bros. Discovery would lead to concentration in the streaming industry. Sarandos emphasized that the company has given subscribers value for their money during past price hikes and that customers can cancel their subscription with one click. He also highlighted the benefits of the deal, including expanding Warner Bros. content and creating American jobs.
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Netflix co-CEO Ted Sarandos is pushing back against concerns that the company’s merger with Warner Bros. Discovery will lead to higher prices for subscribers. He cites the company’s track record of providing value to customers during past price hikes and the ease with which customers can cancel their subscription.
Sarandos also emphasized the benefits of the deal, including expanding Warner Bros. content and creating American jobs.
The company has given its subscribers top value for their money during past price hikes, according to Sarandos.
If subscribers don’t see the value in what Netflix is providing, they can cancel their subscription with one click, Sarandos said.
This deal will accelerate Netflix’s business by giving subscribers access to the large library of Warner Bros. shows and movies, including the Harry Potter series and The Big Bang Theory.
Sarandos reframed the situation: “Whenever we come back and ask for a little more money, it’s because we’ve given them a lot more value.”
