We’ve been focused lately on content. In “Disruption, Illustrated. Fuse LLC Files for Bankruptcy. (Long Netflix),” we discussed the bankruptcy of Fuse Media LLC, a TV and radio content provider that got disintermediated, in part, by the evolving nature of content distribution and consumption. In “📺TV Content Distribution is in a State of Flux📺,” we discussed how AT&T, from its vantage point as a distributor, was looking to combat the current trend of increased content costs despite lower content viewership. No doubt, content creation, consumption and distribution are evolving in real-time and there will be real winners and losers.

With respect to content consumption, Netflix Inc. ($NFLX) CEO Reed Hastings once notoriously said back in 2017:

“Sometimes employees at Netflix think, ‘Oh my god, we’re competing with FX, HBO, or Amazon,” said Hastings, “but think about if you didn’t watch Netflix last night: What did you do? There’s such a broad range of things that you did to relax and unwind, hang out, and connect–and we compete with all of that.”

More specifically, explains Hastings, there are only a certain amount of hours which humans can tend to activities, and Netflix’s goal is to occupy those moments–and deliver the utmost joy to the consumer during that opportunity.

“You get a show or a movie you’re really dying to watch, and you end up staying up late at night, so we actually compete with sleep,” he said of his No. 1 competitor. Not that he puts too much stock in his rival: “And we’re winning!”

Sleep, huh? Uh huh, sure. That makes total sense.

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