Netflix, Inc.

Good afternoon and welcome to the Netflix Q1 2020 Earnings Interview. I'm Spencer Wong, VP of IR and Corporate Development. Joining me today are CEO Reed Hastings, CFO Spence Newman, 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. With that, let me turn it over to Mike for his first question.

Thank you, Spencer. Good afternoon. Glad to see you all safe and healthy and take this opportunity to extend my best wishes to our viewers. Your letter had a lot of detail about the impact of the environment, but I'd like to hear directly from you some key thoughts and then we can dig in more deeply into a few topics. So we just start with the impact of COVID, the changing consumer behavior. Reid, your thoughts on both the sort of sustained strategic impact of the change and and change of behavior. And then maybe for each of you, if you could highlight the most significant thing that's changed for you and how you're thinking about permanence or how to work through that in the coming weeks and months.

Sure, Mike. I mean, it's an incredible tragedy for the world. Everyone is wrestling with implications both on health, on hunger, poverty. And we, too, are really unsure of what the future brings. It's super hard to say if there's, you know, strategic long-term implications because, you know, we've just been scrambling to keep our service running well, keep the content, get our post-production done. You know, our small contribution in these difficult times is to make home confinement a little more bearable. And we take that seriously. We're working super hard on that. And, you know, in a couple months, we'll all be able to grapple with the long-term implications. But right now, we're just focused on getting our content out, getting it dubbed, and I'll let the other team members talk.