Netflix Gets an “Obama” Bump

Netflix is on a roll. In the past week, the streaming service took home an Oscar for its geopolitical documentary Icarus and it was just announced that Netflix will earn a $15 billion revenue this year, up from $11 billion in 2017.

However, Netflix CEO Reed Hastings is affected by another piece of news: Netflix plans to develop a show with Michelle and Barack Obama, an announcement that skyrocketed both Netflix’s share price by 10% and Hastings’ net worth by $400 million.

Hastings is ranked 887 on Forbes’ real-time billionaire listing, a tool that tracks billionaire net worth across the globe. Hastings’ current net worth is $3.5 billion.

The upcoming Obama special has reached advanced negotiations with Netflix, allowing the Obamas their first global audience platform since being in the White House. The special will reportedly be a series of episodes that highlight inspirational stories, not a political series or a response to President Trump.

Reactions on Twitter were mixed. Many voiced their enthusiasm for the show, while others stated that if Netflix were to air the series, they would cancel their subscriptions.


Whether the show makes it to the final cut, Hastings is comfortable. When asked by USA TODAY about Netflix’s competition with other streaming services such as Amazon and HBO, Hastings replied that Netflix has little to worry about.

“It’s a competitive market,” Hastings said. “Tune everyone out, stay focused, if we produce great series and movies, people will love us.”

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