Janice Min: Many in Hollywood are "perpetually mad at Netflix"

Netflix's current transformation has drawn raised eyebrows from analysts and industry insiders — but that's right on brand for a company that's made Hollywood uncomfortable for decades.

What they're saying: "A lot of people in entertainment are perpetually mad at Netflix because they came and they changed the way of life for this sort of cozy, clubby way that people have done business in Hollywood for a long time," industry insider Janice Min, CEO and founder of The Ankler, told Axios Wednesday night.

Context: Min has been covering Hollywood as a journalist, editor, and media executive for about three decades.

• She's turned around Us Weekly and The Hollywood Reporter and made them both into successful media brands.
• In many ways, what Min did at Us Weekly — bringing a sense of "competition ... and a culture of winning" as she put it — is what Netflix has done.

Case in point: Netflix bragged about the popularity of its show "Dahmer" in its third-quarter earnings report by publishing a Google Trends chart showing how many people were interested in watching it versus HBO tentpole "House of the Dragon" and Amazon's big-budget "Lord of the Rings" series.

The big picture: Netflix brought the "Silicon Valley ethos into an entrenched system" and has been unafraid to pivot and even eat its words on strategy.

• While Netflix had long said that advertising would not be its model, the company has now launched a version of its streaming service supported by ads.
• And with the release of "Glass Onion: A Knives Out Mystery" in theaters, the streamer is showing how it plans to test different distribution strategies.

The bottom line: "They apologize for nothing," said Min.

Watch full interview here.

Go deeper:

• Netflix's stock spikes on subscriber beat
• Streaming platform moves to ad-supported tiers will come at a cost