Reed Hastings, the founder of Netflix, believes that his streaming service needs to cancel more of its original programming going forward.
Speaking to CNBC (via Vulture), Hastings said that Netflix’s “hit ratio is way too high right now,” which you think would be a good thing, but Hastings believes that the service needs to be taking more risks with its original content. “We’ve cancelled very few shows,” he explained. “I’m always pushing the content team. We have to take more risk, you have to try more crazy things. Because we should have a higher cancel rate overall.”
Hastings cites the recent success of the show 13 Reasons Why as a big risk that paid off. “You get some winners that are just unbelievable winners, like 13 Reasons Why. It surprised us. It’s a great show, but we didn’t realize just how it would catch on.”
Netflix truly began pushing its original content strategy back in 2013 with critically-acclaimed series like House of Cards and Orange is the New Black but to date, the streaming giant has rarely cancelled its originals. In fact, The Get Down, which was just recently cancelled, is the only Netflix show that wasn’t renewed for a second season. Marco Polo, another original, was cancelled after two seasons and didn’t get a proper ending.
Hastings also mentioned that Netflix will continue to increase its total spending on content, with plans to go beyond the $6 billion it will invest this year.