Netflix Quietly Abandoned by Its Founder

Jakarta, CNBC Indonesia - Netflix founder Reed Hastings has quietly resigned from his position as the company’s chairman at a time when the streaming platform’s performance is under pressure. Reuters reported that Hastings announced his resignation on Thursday (18/4/2026). “My real contribution to Netflix is not a single decision. However, building a company that can be inherited and developed by the next person,” he said. Netflix Co-CEO Ted Sarandos expressed praise for Hastings’ leadership and ambition to build a company that can continue without him. “He built a company filled with risk-takers and a culture where one’s character matters, and everyone strives to be the best,” said Sarandos. Hastings started Netflix as a DVD rental company that could be delivered by mail. He then transformed Netflix into a platform for streaming films and television series. Netflix is currently under pressure. The company’s revenue growth rate has slowed amid increasingly tight competition with other streaming platforms. In February, the planned merger with Warner Bros Discovery also failed. Netflix’s share price fell 9 per cent after news of Hastings’ resignation emerged. Netflix Co-CEO Greg Peters stated that the number of Netflix subscribers at the end of last year reached 325 million accounts, with the number of viewers estimated to exceed 1 billion pairs of eyes. “Even with such achievements, we still have a lot of room to grow in our target markets,” said Peters.