Netflix co-CEO Ted Sarandos says people use social media to express fandoms

Netflix Inc. NFLX co-CEO Ted Sarandos doesn't see YouTube, TikTok or Reels as competitors, but he thinks people use the platforms to express their fandoms.

What Happened: Sarandos said Netflix doesn't see ByteDance's TikTok, Google's YouTube and Instagram's Reels as threats during the Global TMT conference.

He said people use social media platforms to express their fandoms, which increases their affinity for content on Netflix. Sarandos cited TikTok as an example. He said that when people spend time on TikTok, what they actually do is that they use TikTok to express their fandom, which increases their affinity for content on Netflix. Sarandos said that the excitement shown by users on TikTok and other social media platforms helped Wednesday - a comedy horror show on Netflix. People got excited about Wednesday early on and started talking about it, so they started posting music videos. He said that they started making their own content based on their excitement about how much they love Wednesday.

The social media platforms are amazing marketing routes, according to Netflix's co-CEO.

Why It's Important: Last week, it was reported that following Netflix's footsteps, TikTok decided to enter the gaming market.

In October of this year, research from Omdia showed that TikTok had replaced Netflix to become the second most popular service in the U.S.

As the senior director of Omdia's senior director, Maria Rua Aguete said that the increasing importance of TikTok to reach and grow new audiences should not be understated for broadcasters, commercial or otherwise.