Netflix says it will keep streaming crown; no worries about Disney and Apple TV

Netflix, which dominates streaming, says it will continue to hold the crown, even in the face of intense new competition in November from the likes of Apple and Disney. 

The new streamers, which also include Warner Media’s hbo Max and Peacock, from NBC, both set to launch in the spring, “have some great titles (especially catalog titles), “Netflix said in a note to accompany its third-quarter earnings Wednesday. But “no one has the variety, variety and quality of the new original programs we produce around the world.”

However, the company saw smaller subscriber growth than analysts had forecast for the second straight quarter, with 6.7 million additions, less than its 7 million forecast. The company, which currently has 158 million subscribers worldwide, lost 130,000 subscribers domestically in the previous quarter. 

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However, Netflix announced non-transferable viewing numbers for its original programming. In the first four weeks of the third season of its breakout hit Stranger Things, Netflix said about 64 million people tuned in.

And for a docu-drama limited series Incredibly, about two police officers are trying to solve a rape case, 32 million set up in the first 28 days. 

Apple TV Plus is set to debut on November 1, and looks to undermine Netflix with a substantially lower subscription fee, $ 4.99 monthly, or one year free with the purchase of an Apple product (iPhone, IPad, computer, Apple TV streaming, IPod Touch.) The Disney Plus service, which offers library content from Disney, Marvel, Pixar, National Geographic and Lucasfilm libraries, costs $6.99. 

Netflix’s most popular price is $ 13.99 monthly. 

“The likely outcome,” from the launch of new streaming services “will accelerate the transition from linear TV to on-demand entertainment consumption,” Netflix says. “Just like the evolution from terrestrial television to cable, these once-in-a-generation changes are very big and open up big, new opportunities for many players.”

For example, Netflix notes that in the first decades of cable television, networks such as TBS, USA, ESPN, MTV and Discovery did not weed out audience share from each other, but instead they collectively took audience share from watching the broadcast.

Netflix reiterated its prediction that streaming will replace linear television over the next decade. “Our focus will continue to be on pleasing our members and growing engagement as this approach has served us well since 1997.”

In a video interview posted on YouTube after the earnings, Netflix CEO reed Hastings said that “Streaming Wars” and the new competition are “attracting more attention” to Netflix and other streamers ” and helping consumers move faster from linear to streaming TV.”

He noted that YouTube is “seven times bigger” than Netflix, “but it’s free,” and he said his goal is to catch up. 

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