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is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.
Netflix co-founder Reed Hastings plans to leave the company after nearly 30 years. The news comes as part of Netflix’s earnings results released on Thursday, which says Hastings, who currently serves as chairman of the company, “will not stand for re-election to our Board when his current term expires at the Annual Meeting in June.”
After co-founding Netflix in 1997, Hastings served as CEO from 1999 to 2023, when he stepped down and took on the role of chairman. “My real contribution at Netflix wasn’t a single decision; it was a focus on member joy, building a culture that others could inherit and improve, and building a company that could be both beloved by members and wildly successful for generations to come,” Hastings says in the release.
Netflix has had an eventful past several months. After walking away from a $83 billion deal to acquire the Warner Bros. studio and HBO Max, the company raised the price of its streaming service once again in March, putting its cheapest ad-free plan at $19.99 per month, instead of $17.99. It even launched a games app for kids, called Playground, and added new Jackbox party games that you can play from your TV.
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