Netflix CEO: We don't want World War III with cable

Netflix CEO Reed Hastings is pleased with his company's massive growth, but he fears that getting too large will start "an Armageddon" with cable networks.

Hastings talked about Netflix's "niche" philosophy -- a Goldilocks-esque business plan of staying "not too big, not too small". "We've consistently said getting into current season [TV] or newer movies would not be profitable for us," Hastings said. "It would be an Armageddon. It would be World War III, and we likely wouldn't survive that battle." Anderson then read a quote from a Comcast exec who said that Netflix doesn't compete with TV, it competes with reruns. Hastings acknowledged that his company doesn't expect to compete on sports and breaking news, which are suited to live broadcast. "[Netflix is] not every single thing all of you folks want to watch, but it's $8 a month," he said. "It's choosier content."