Economy

Why Netflix Continues to Shrug Off Looming Threats From Disney and Apple

Why Netflix Continues to Shrug Off Looming Threats From Disney and Apple”

Worldwide paid subscriber additions came in at 6.26 million in the quarter, well below the 6.05 million figure that analysts were expecting.

Only two weeks away from the Apple TV+ launch, Netflix reported its earnings for the third quarter of 2019 and, while it acknowledged that Apple's streaming service will be a competitor it will keep its eyes on, the company is not particularly anxious about it, or about Disney+.

Netflix's streaming subscriber base continues to grow, ending the quarter at more than 158 million global paid subscribers, up from 130 million a year ago.

Despite positioning Netflix as the market leader, Hastings said that "we believe we're less than 10% of TV screen time in the USA (our most mature market) and much less than that in mobile screen time".

"While the new competitors have some great titles (especially catalog titles), none have the variety, diversity and quality of new original programming that we are producing around the world".

"We believe this is due to the big factor of streaming growing into linear TV plus the fact that streaming video services have mostly exclusive content libraries that make them highly differentiated from one another". In fact, the biggest takeaway was Netflix's defiant tone. We're all relatively small to linear TV.

With Apple and Disney set to launch new streaming services next month, and other major content owners like NBC looking to soon start their own as well, the landscape of streaming is about to dramatically shift, and while you might think this is enough to make old-school content providers like Netflix nervous, it seems that the streaming giant isn't too anxious. "So just like in the letter we put about the multiple cable networks over the last 30 years not really competing with each other fundamentally but competing with broadcast, I think it's the same kind of dynamic here".

With new services on the way, Hastings predicted that more consumers will begin subscribing to multiple streaming services due to their unique content offerings. As a result, they'll stop paying for linear TV and have more to spend on streaming services.



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