Fresh off of its Oscars win for Icarus, a documentary about Russia's doping epidemic in sports, Netflix held a press event at its Hollywood headquarters. There, inside a 280,000-square-foot, state-of-the-art studio that it just opened last year, CEO Reed Hastings talked about the state of Netflix and the industry as a whole. The setting seemed fitting, considering the company is planning an $8 billion investment in original content for 2018 alone. That programming strategy is what makes Hastings confident that Netflix's future is bright, especially as it faces increased competition from the likes of Amazon, Hulu and, soon, Disney. The latter of which is also a partner, since it owns all of the Marvel franchises that Netflix has built a mini-verse around.
Hastings addressed this and a wide range of other topics during a 30-minute chat with members of the media. One of the most notable things the Netflix chief mentioned is that his streaming service doesn't have any plans whatsoever to do live TV, even if rivals like Hulu and Amazon's Prime Video are investing heavily in that space. "To follow a competitor, never, never, never," he said. "We have so much we want to do in our area, so we're not trying to copy others, whether that's linear cable, there's lots of things we don't do. We don't do [live] news, we don't do [live] sports. But what we do do, we try to do really well."