[Foreign Book] The Secret to Innovation by Hastings, Netflix CEO

Reed Hastings and Erin Meyer 'No Rules Rules'

[Asia Economy Reporter Byunghee Park] 12.6%. This is the stock return of Netflix, the world's largest streaming company, for this year (as of the 2nd). While the stock prices of major global companies have struggled, with Google's stock falling 17.3% this year due to the COVID-19 pandemic, Netflix stands out independently. There is even analysis suggesting that COVID-19 could be a positive factor for Netflix's stock price, as people are unable to go outside and thus increase their Netflix viewing. In fact, Netflix's new subscriber numbers have recently surged.

Starting as a video rental business in 1997 and growing into a giant leading the global media market, a book that explores the true nature of Netflix is soon to be published by Penguin Press in the United States. The title is "No Rules Rules." The subtitle is "Netflix and the Culture of Reinvention."

As the title suggests, Netflix has repeatedly grown through a management style that breaks conventional wisdom.

What draws attention is that Netflix founder and CEO Reed Hastings participated as a co-author. Hastings personally interviewed current and former Netflix executives and employees to write the book. In 2009, Hastings shared online a 127-page PowerPoint document titled "Netflix Culture Deck," which recorded Netflix's culture and philosophy. Detailed content about this is expected to be included. Erin Meyer, a professor at INSEAD Business School in France, co-wrote the book with Hastings.

The book was originally scheduled to be published on May 12. However, the release date is expected to be slightly delayed due to the impact of COVID-19.