"Streaming is working everywhere. Everyone is pouring in," Hastings said Tuesday on the media giant's second-quarter earnings call. "It's definitely the end of linear TV over the next five, 10 years."

The prediction comes after producer of "Stranger Things" reported a loss of 970,000 subscribers during the second quarter, below the company's guidance of two million. In the first quarter, the streamer lost 200,000 subscribers — its first decline in over a decade. 

"We're improving everything we do around marketing, improving the service, the merchandising, and all of that solely pays off," Hastings added. "But again, we're talking about losing one million instead of losing two million. So our excitement is tempered by the less bad results."