Why Netflix Is Actually Aiming for More Cancellations

Netflix CEO Reed Hastings came on CNBC's Squawk Box to talk about a variety of topics, including his thoughts on Amazon and what he's now watching.

While Netflix has been a vocal proponent of the rules in the past, CEO Reed Hastings said it isn't his company's fight anymore.

Hastings wants the streaming site to take more risks and believes that by doing so, they can produce more creative and successful shows like 13 Reasons Why. Both shows were very buzzy online and had impressive people behind-the-scenes, with The Matrix's Wachowski siblings working on Sense8 and The Great Gatsby's Baz Luhrmann leading The Get Down. We have to take more risk, you have to try more insane things. Its high-budget epic-drama "Marco Polo" was also cancelled at the tail-end of a year ago after two seasons.

"There are so many great shows we don't have yet", he said. It's like they are trying to repeal the basic laws of business, of limited capability.

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"We'll see if they do change the rules", Hastings told CNBC's Squawk Box ahead of his panel discussion at the Code Conference in Rancho Palos Verdes, Calif. Wednesday. But Hastings noted that even big bets like "Get Down" and "Marco Polo", another big-budget drama series that was ended after two seasons, only comprise 1% of a content budget that is expected to reach $6 billion in 2017.

Netflix has no plans for news and sports expansions, as Hastings cited those are very tough businesses. "That's what we want", he said. While the company's position hasn't changed - it still believes the principles behind net neutrality are fundamentally correct - Netflix isn't almost as outspoken now that the FCC is throwing out the rules that helped protect it back in the day.

Netflix's next big show: GLOW, which will premiere this summer from Orange Is the New Black creator Jenji Kohan.

According to Hastings, the increase in recent cancelations is on goal.

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"You can tell when we cancel a show", he said. It has been eight years.

- Admitted Amazon's push into TV is "scary", even if not a major threat to Netflix.

Here's a streaming media analogy to wrap your head around: Netflix is like Starbucks, and Amazon is like Walmart.

France in particular has a rule that states movies that play in theaters must wait three years before they can pop up on a streaming platform. "If we try to out-Amazon Amazon, then that's a losing battle".

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