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Netflix cofounder Reed Hastings is officially leaving the company
Streaming Close Streaming Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Streaming Entertainment Close Entertainment Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Entertainment Netflix Close Netflix Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Netflix Netflix cofounder Reed Hastings is officially leaving the company Hastings will step down as chairman after nearly 30 years at Netflix. Hastings will step down as chairman after nearly 30 years at Netflix. by Emma Roth Close Emma Roth News Writer Posts from this author will be added to your daily email digest and your homepage feed. Follow Follow See All by Emma Roth Apr 16, 2026, 8:23 PM UTC Link Share Gift Photo: Getty Images for The New York Times Emma Roth Close Emma Roth Posts from this author will be added to your daily email digest and your homepage feed. Follow Follow See All by Emma Roth 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 cofounder and chairman Reed Hastings plans to leave the company after nearly 30 years. The news comes as part of Netflix’s Q1 2026 earnings results released on Thursday , which says Hastings “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. Hastings is stepping down to focus on his “philanthropy and other pursuits,” according to Netflix. During this quarter, Netflix reported revenue of $12.25 billion, marking a 16.2 percent year-over-year increase. The streaming giant says the jump was driven by “membership growth, higher pricing, and increased ad revenue.” It also netted a $2.8 billion breakup fee after walking away from an $83 billion deal to acquire the Warner Bros. studio and HBO Max. Related How Netflix made us fall in love with K-dramas Netflix is raising prices again At the same time, Netflix continues to make changes to its platform with a push into live content , video podcasts , and games. In March, Netflix raised the price of its streaming service once again , 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. The company is planning to roll out a mobile app revamp by the end of this month as well, which will come with a focus on vertical video. Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates. Emma Roth Close Emma Roth News Writer Posts from this author will be added to your daily email digest and your homepage feed. Follow Follow See All by Emma Roth Entertainment Close Entertainment Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Entertainment Netflix Close Netflix Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Netflix Streaming Close Streaming Posts from this topic will be added to your daily email digest and your homepage feed. Follow Follow See All Streaming Most Popular Most Popular YouTube now lets you turn off Shorts Trump’s posting even more AI-generated Trump-Jesus fan art The Cybertruck of e-bikes is here to replace your car Microsoft’s new Xbox chief starts making her mark Ticketmaster is an illegal monopoly, jury finds The Verge Daily A free daily digest of the news that matters most. Email (required) Sign Up By submitting your email, you agree to our Terms and Privacy Notice . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Advertiser Content From This is the title for the native ad
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- Follow Follow See All Netflix Netflix cofounder Reed Hastings is officially leaving the company Hastings will step down as chairman after nearly 30 years at Netflix.
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