’s International Council Summit in New York. Disney+ reported drawing 10 million sign-ups in the first day its new service was live, a number that exceeded Wall Street forecasts and sent its stock to an all-time high, with Netflix shares retreating.While Sarandos saluted Disney as “great storytellers and a hugely successful company,” he said he was “frankly surprised it took Disney and other people this long to go down this path. It’s a hard change.
Along with streaming competition, the most notable comments from Sarandos pertained to Netflix CEO Reed Hastings’ assessment of thecontroversy. Last week, in an appearance at the New York Times DealBook conference, Hastings explained the streaming giant’s decision to yank an episode after facing heat from the Saudi Arabian government by saying Netflix is not in the “truth to power” business.
“I think all entertainment is truth to power,” Sarandos said. “I don’t know if it was not a great choice of words or misspoken. I think what he was getting at was, we’re not in the breaking news business. … It’s just not what we do. We’re not reporters and editors, we’re not in that business of creating and being great at news.”host Hasan Minhaj “brilliant” and said it’s “definitely about the news.” Sarandos replied, “It’s about the news, but it isn’t the news itself.
Listening to Sarandos and taking a long, expertly timed pause that drew a laugh, Redd said, “Man, you’re good at this.”
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