Netflix Adds Axel Springer CEO to Board for Europe Expertise

18 Sep 2018, 10:43 PM IST

(Bloomberg) -- Netflix added Axel Springer CEO Mathias Doepfner to its board, bringing on the expertise of the former music critic who once ran Die Welt newspaper and has invested aggressively in digital media at the German publishing house.

Key Insights

Doepfner bolsters the Netflix board’s experience in Europe after the company added Rodolphe Belmer, CEO of Paris-based Eutelsat Communications, earlier this year. The majority of Netflix’s subscribers are outside the U.S.
At Axel Springer, Doepfner has flirted with the television business himself, but was blocked in 2006 by regulators from acquiring German broadcaster ProSiebenSat.1 Media. Now Axel Springer is getting growth from digital properties such as Business Insider that have been investing in video.

Doepfner said Netflix is "one of a kind" as he joined its board of directors.

NFLX CEO Reed Hastings said Doepfner’s "leadership at the vanguard of both European business and digital media" will be important as Netflix works to build and improve its operations globally

Link to Statement: Mathias Doepfner appointed to Netflix Board of Directors

To contact the reporters on this story: Crayton Harrison in Los Angeles at tharrison5@bloomberg.net;Nick Lichtenberg in New York at nlichtenberg@bloomberg.net

To contact the editor responsible for this story: Crayton Harrison at tharrison5@bloomberg.net