The multi-millionaire co-founder of Netflix claims that Australian television is in danger of being annihilated by the transmission giant in the future unless it adapts to market pressures, but cinemas will survive the digital revolution.
"There will definitely be a change in the market in the near future and there will be a lot of pressure on companies to find ways to offer value to viewers," Marc Randolph told Daily Mail Australia from San Francisco.
"Nobody sees the US Open on Netflix and nobody sees the evening news on Netflix, so open television has a place," said the Netflix co-founder and the company's first CEO.
Co-founder of Netflix claims that Australian television could be annihilated by the broadcast giant (pictured: Alyssa Milano (left) and Debby Ryan in Netflix's "insatiable" Premiere, August 2018)
"There will definitely be a change in the market in the near future," Marc Randolph told Daily Mail Australia from San Francisco.
It also says that cinemas are in a good position to survive, but the owners of the cinemas must work to make it a special experience that people can not get elsewhere.
"There's something very different about going out and watching a movie on a big screen with all your friends, that very social aspect makes it a unique experience."
Randolph openly admits that in the early days of the company, when they met at a local restaurant in California and discussed Coca Cola and French fries, "there was not a clue that it would ever reach size, scale and influence. "What do you have today?
Today, the transmission giant is one of the largest media companies on the planet that obtained more than 16 billion Australian dollars in revenue last year.
& # 39; The initial thought was & # 39; someone could rent a movie & # 39; he jokes.
After what Randolph calls a "two-year routine," the company had updated itself, first to the conference room of a motel and then to a rented office, and had more than 100 employees.
At that time Blockbuster did not even consider itself a competitor because its size was much larger with 60,000 employees and it earned close to $ 6 billion.
Today, the transmission giant is one of the largest media companies on the planet, which briefly surpassed Disney in May of this year as the largest and obtained the equivalent of more than 16 billion Australian dollars in revenue per year. past.
Of its 130 million subscribers, less than half are in their country of origin, the United States, with only 56 million.
Randolph left Netflix in 2004 and spends much of his time talking and advising new companies, which he says gives him "trouble", especially in Australia, where he says there's a lot of dynamism, risks and attempts & # 39;
"We are at the beginning of startups, there are great opportunities in things like A.I. and the Internet of things, technology is expanding, so the reality is that there are still a million things to be invented."
Marc Randolph will visit Australia later this month for a conference tour, visiting the Sydney State Theater on September 20 and the City of Melbourne on September 24, with tickets available at Ticketmaster or at www.startcon.com/netflix.
Randolph left Netflix in 2004 and spends much of his time at public speaking events and as a mentor to young startups, which he says "gives him a rush," especially in Australia.