Netflix CEO calls resisting ads a mistake

Netflix Inc co-founder Reed Hastings on Wednesday said he was “wrong” to resist ads for his streaming service.

Hastings said Hulu proved streaming services could support advertising and offer consumers lower prices.

“I wish we had flipped a few years earlier on it,” Hastings said during the New York Times DealBook summit.

Netflix launched a lower-priced, ad-supported version of the streaming service earlier this month.