Beverly Hills, Calif. -- Ted Sarandos, chief content officer of Netflix, waved off the company's recent earnings disappointments and marshalled an array of series news to argue that Netflix has an edge despite the overall glut of programming.

In his remarks Wednesday during the company's portion of the TCA summer press tour, he derided the "mediocre" shows overwhelming viewers. Later, he clarified to reporters that Netflix itself has turned out a few mediocre titles but overall has an edge. "People are watching Netflix, on average, for two hours a day," he said. "There is no other network on television that gets that much viewing."

"When people talk about Peak TV, they talk about it through an old-media lens," he said. "But today, the viewer has total control over what shows they want to watch and how they want to get to them. And in that world, it's almost infinite the possibilities for how people can connect."

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