“Reed Hasting’s resignation from his current position raises many questions about Netflix’s future strategy,” said an analyst at research firm Third Bridge.
“Our board of directors has been planning for several years what to do for our successors. Company founders also need to evolve. I am proud of our first 25 years and look forward to the next 25 years,” says Hastings.
Mr. Hastings will remain with Netflix, retaining his seat on the company’s board of directors.
Netflix has 231 million registered viewers worldwide. Leaving Hastings’ job means new challenges for the company in a crowded job market.
The total number of subscribers increased by 7.66 million in the last three months of 2022, although the company had expected an increase of about 4.5 million.
Revenue rose to $7.9 billion in the fourth quarter. However, profits in the quarter were lower than in the same period a year earlier. In general, last year’s profit was lower than in 2021.
Last year, the value of Netflix shares fell by almost 38%.
