At least, that's according to Neil Hunt, the chief product officer at Netflix.

Hunt, who delivered a keynote speech at the 2014 Internet Week in New York, predicts that personalization and on-demand viewing and streaming are really the way of the future when it comes to entertainment. They are also part of his plan to have Netflix defeat its rivals in entertainment. Netflix, which was founded in 1997, has 48 million subscribers worldwide and in the first quarter of 2014 streamed 6.5bn hours of entertainment, bringing in revenue of over $1bn. Though subscriber growth has slowed in recent years, the company's plan to hike prices has won cheers from Wall Street.

But the competition is getting tougher – Amazon is in the ring now – and Netflix needs a plan. Hunt told the audience in New York, "Our vision is you won't see a grid and you won't see a sea of titles. Instead you'll see one or two perfect suggestions that perfectly capture what you want to watch right now depending on your mood and who is with you, who is sitting with you at the TV right now. I think this version is possible."