Netflix (NFLX) 21 Apr 202020 Q1 Earnings call transcript

Good afternoon, and welcome to the Netflix Q1 2020 Earnings Interview. I'm Spencer Wang, VP of IR and Corporate Development.

Joining me today are CEO, Reed Hastings; CFO, Spence Neumann; Chief Content Officer, Ted Sarandos; and Chief Product Officer, Greg Peters.

Our Interviewer this quarter is Mike Morris from Guggenheim.

As a reminder, we'll be making forward-looking statements, and actual results may vary.

turn to me first for let question. that, it Mike over his With

and to extend afternoon. safe you, good Thank Spencer, Glad to viewers. and this wishes and take see opportunity best to my our healthy all you

a detail we Your the the more can to directly dig impact like key some into about from letter in I'd lot you but few thoughts, of a hear had topics. of environment, and deeply then

maybe consumer change changing Reed, the sustained, then for impact through the coming of you, most for how So on of the each you're the weeks your behavior. if thinking we'd start both the and that highlight thoughts just in strategic months. or with of work COVID, if impact could about and And behavior. thing to changed sort you significant that's of of permanence the you, change how

for with to on we've servers keep Sure, And what scrambling incredible there's mean been Everyone really unsure hard brings. tragedy an the health, implications long-term strategic our on if world. just to both of the future wrestling done. running Mike. It's it's content, hunger, our too, get postproduction keep implications, are super the is say well, we, I because poverty. the

team able just couple times and out, be dubbed, members with all we're getting super working But Our a small we're And difficult hard content where other focused let we'll months, our seriously, of now, that contribution long-term on in home talk. the I'll to getting grapple is a the confinement implications. on right it make in And to take these little more you that. bearable.

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work, places doing mostly lot done work done before folks it never it's really a getting a of tough they've from So they've never before.

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that's this time Great. anything were top financial quarter? And right you we last where side, significant relative Spencer, from now, mind the to of for

Yes.

employees taken of it healthy now safe and are running fortunate and business, right runs ensuring that focused crews Greg I that think what so care on is sure in of I'd production being echo Ted what much that smoothly, just is can our taking care and and we're and we said, making as smoothly it that Reed best of. and our

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here. unchanged. some long-term So overall, trend timing there is really But impacts that may be

for for of our that a our we're Ted a and something our of to relatively But our to we're employees lot members as do throughout others that operating. trying doing work lot and and hard in of it's make well do to what said, So is, and trying reality, folks, thousands best challenges for really company community. really a smooth easy looks is that

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don't most how I elements, planning and model when are online, any than when broadly anybody coming aspect. how are they be treatments else are a on have have can certain have significant COVID we the coming And model, more those think a know you vaccines they manufactured. that is of to and quickly online, distributed, big

else as the we're in So is. about think everyone same that uncertainty it

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for So period. we'll that focus really this just on

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Spencer, take do you want one? that to

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that on value. So we're really accessibility, focused delivering but maintaining

the things happening on the segue side good of pipeline. a into on That's the some content that are

a -- gave of bit spoke overview. you us an little Ted, You

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highlights could you two share? that of markets specific Any those

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Mike, or more questions, we X X have time for please.

Okay.

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very from you your all you much. home investors Thanks, and to Thank Mike, with for this talking look over forward the of quarter. doing