October 11, 2021
The Forbes 400 recent list of the richest Americans in 2021 includes subscription streaming video pioneers Reed Hastings, co-founder/co-CEO of Netflix, and Roku founder/CEO Anthony Wood.
In a surprise, Wood ranks 134th with the personal wealth of $6.9 billion. That is 54 spots ahead of Hastings, who charted with a personal wealth of $5.7 billion.
Netflix ended the most-recent fiscal period with $1.35 billion profit on revenue of $7.3 billion. Roku ended the period with a net loss of $97 million on revenue of $676 million.
While Amazon founder/chairman Jeff Bezos again leads the list (and world) of multi-billionaires with a personal worth of $201 billion, Hastings and Wood make the list due to their co-launch of a short-lived branded “Netflix player” set-top device manufactured by Roku.
Wood, who once worked at Netflix as VP of Internet TV, went on to market Roku to consumers as a means of connecting the Internet (and third-party streaming apps) through their television.
Hastings, along with co-CEO/chief content officer Ted Sarandos, and others, spearheaded the world’s largest SVOD platform with 210 million subscribers. Nearly a decade earlier, Hastings and Netflix co-founder Marc Randolph invented the by-mail DVD movie rental business — after successfully sending a music CD in a First Class envelope.
Hastings has long stated no desire to enter the consumer electronics business with branded a player similar to Apple TV or Amazon Fire TV. Wood, meanwhile, expanded Roku beyond streaming video to include a line of soundbars and televisions — the latter reportedly the fourth-largest selling brand in the U.S.
Wood has also driven the growth of ad-supported VOD through the 2017 launch of The Roku Channel, which is now delving into original programming, with more than 51 million average monthly users.
Notably, the executive considered incorporating a Blu-ray Disc drive in early Roku players, but dropped the idea due to unit size restrictions.