Senior execs have used the NCTA in Chicago to play down the cord cutting threat that Netflix poses. “Our industry has always been about new content. Netflix is primarily a service that provides library programming,” said Philippe Dauman, chief executive of Viacom. Robert Marcus, chief operating officer of Time Warner Cable was even more bullish, declaring, “we’re all in favour of any application, Netflix included, that increases the value of our fast Internet connection.”
In April, Netflix became the largest video subscription service in the US, with more than 23.6 million users and it is said to account for 30 per cent of peak time Internet traffic.