Netflix Co-CEO Admits Flops, Emphasizes Art Over Algorithms

Netflix co-CEO Greg Peters emphasized that creating hit content is more about artistic intuition than data science, highlighting the importance of variety and quality to engage their 500 million viewers. Speaking at Deloitte’s Media & Telecoms 2024 and Beyond Conference, Peters discussed Netflix's strategy of leveraging local and diverse executives to develop a broad slate of content. He also outlined a $600 billion market opportunity across streaming, linear, advertising, and gaming, and noted the company's recent successes in subscriber growth, advertising tier, and password-sharing crackdown.