Netflix won't be available on Apple's upcoming streaming video service: Reed Hastings

Hastings called Netflix more of a content company, owing to $10 bn spend on content sourcing

Apple is all set to announce its video streaming service on 25 March. Invites with the tagline 'It's show time' have already been sent out to media outlets, and speculations about which studios will be part of this service are already rife.

So far, we know that Apple is all set to preview around 11 shows on 25 March. However, one major video streaming app will not be present on Apple's video service — Netflix.

Netflix wont be available on Apples upcoming streaming video service: Reed Hastings

The Netflix logo is pictured on television in this illustrative photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake/File Photo

Netflix CEO Reed Hastings has confirmed that it won't be selling subscriptions of its services on the Apple streaming video platform. According to Variety, Hastings said at a press event in Los Angeles, "Apple is a great company. We prefer to let our customers watch our content on our service. We have chosen not to integrate into their services.”

On being asked how Netflix planned to compete with tech giants who are planning to get into the video subscription game, such as Apple, Warner and the already existing Amazon Prime Video, HBO, Hulu and others, Hastings responded, "With difficulty." He also added that Netflix has been competing with Prime Video for many years now and it does its best job when there are great competitors. Hastings also acknowledged that sourcing content was getting more expensive.

Netflix, just like Spotify and Amazon, has not taken too well with Apple's 30 percent tax. It also does not allow purchasing subscription via its iOS app. Netflix CEO's statement about staying away from Apple's video streaming service hasn't come as a surprise when seen in this context.

According to Recode, Netflix has been disengaging with Apple over the last few years. For instance, Netflix was never part of Apple's TV app. Netflix's content head Ted Sarandos even said that Apple hadn't been an important revenue source for the company.

Hastings called Netflix more of a content company, owing to $10 bn spend on content sourcing, as opposed to a technology company as that spend was around $1.2 bn.

On being asked about Netflix's China plans, Hastings said he expected Netflix, like other US technology companies, to be blocked in China for quite a while.

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