Bloomberg — The next TV is not going to be an all-in-one home theater system, but rather an all new medium for the viewing of movies and TV.
In the last three years, Netflix has invested in a number of new technology and media platforms, including streaming content, video-on-demand (VOD) and a movie theater app.
It has also invested in video-sharing sites, including YouTube and Hulu.
But Netflix will be the first to release a new TV platform that will be entirely controlled by its own content.
“We have built a system that we believe is best for the industry, and we are going to release it,” Netflix CEO Reed Hastings said at a conference earlier this year.
“The platform is going to have the best content and it will be available to the most people.”
Netflix’s announcement comes less than a year after the streaming giant was acquired by Amazon.
Netflix said it will continue to be the sole video platform and will continue its business as it has in the past.
Netflix CEO Reed Harris said that while Netflix will not be the only TV provider, the future of the TV will likely involve Netflix, Amazon and other companies offering the service.
“The future of television is going digital,” Harris said in a call with analysts last year.