According to The Hollywood Reporter, at a recent Netflix promotional event in Mexico City, Netflix CEO Reed Hastings stated that the days of broadcast TV are numbered.
Hastings said that while traditional broadcast TV has served a purpose over the past few decades, on-demand streaming will cause broadcast TV to die off completely within the next 16 years.
The Hollywood Reporter reveals that Hastings said: "It's kind of like the horse, you know, the horse was good until we had the car. The age of broadcast TV will probably last until 2030."
With over 53 million users, Netflix is one of the major entities responsible for changing how consumers watch TV shows. And the company is also in the process of changing the way movies will make their official debut, as Netflix will debut the sequel to "Crouching Tiger, Hidden Dragon" the same day as it hits IMAX theatres.
Read the full story from The Hollywood Reporter here.