Image source, Getty ImagesByArchie Mitchell, Business reporter and Lucy Hooker , Business ReporterPublished16 April 2026 The co-founder of Netflix, Reed Hastings, is leaving the company, stepping down as chairman of the streaming platform that he set up nearly thirty years ago. He has been at the helm of the company for much of that time, overseeing Netflix's evolution from a postal subscription service to an entertainment giant producing its own content. "Netflix changed my life in so many ways, and my all‑time favourite memory was January 2016, when we enabled nearly the entire planet to enjoy our service," Hastings said. The announcement came as Netflix reported a 16% increase in revenue for the first quarter of 2026, its first set of results since its failed bid for Warner Bros Discovery. Commenting on the failed bid, chief executive Ted Sarandos said: "We said from the beginning it was a nice to have, not a need to have.
Published: April 16, 2026 8:45 pm
Source: BBC — Read original