UBS: Netflix topper eyes sub development in '12

Netflix founder and Boss Reed Hastings stated he berates themself heartily for splitting from the DVD business prematurely, but he stressed that the organization is moving forward after being hammered for several weeks about its fumbles. Hastings told everyone else in the UBS Global Media and Communications confab on Tuesday he needs substantial customer growth the coming year. "In 3 to 5 years everybody will worry about is did we succeed. We're not losing an excessive amount of sleep over that" any longer, Hastings told a packed ballroom filled with traders. Hastings surprised everyone else by saying he sees Cinemax Go as his company's greatest rival. Younger crowd predicted Internet viewing of TV will rising significantly (to 50% from the total in 5 to 10 years) which Netflix ultimately will "produce a library from the mobile phone industry's best content for that world's people." Cinemax Go is "type of inside a gilded cage, not competing directly around, however they can. Cinemax has become more Netflix-like and that we have become more Cinemax-like" with opportunities in original content like David Fincher-Kevin Spacey drama series "House of Cards," Hastings stated. "I believe us will compete for any very very long time," he stated. "Lots of people will sign up for both. We'll continually be just a little better on the web they'll be just a little better on originals. We'll attempt to get caught up for them on that. Like two siblings pushing one another." Amazon . com and Hulu would be the companies more frequently pointed out as Netflix rivals. "You will see lots of rivals available. But Cinemax and Netflix each spend $1 billion to $2 billion annually on content," he stated. "If you are reluctant to take a position at individuals levels, it's difficult to compete." Hastings, who also sits around the boards of Facebook and Microsoft, stated he's pleased with Netflix's worldwide rollout to date but reiterated that additional expansion plans take presctiption hold until coming back to "global profitability." However, in the future he sees the possibility to produce a really global company having a library of superb content -- tapping anime galleries, telenovelas producers, the BBC. "The Web is the very first time there's been a worldwide distribution medium," he stated. Contact the range newsroom at news@variety.com