The company acknowledged that competitive pressure would have an impact on its U.S. business, where subscriber growth fell short of analyst estimates. Netflix on Tuesday said it expects to add 7 million subscribers globally in the first quarter, below analysts’ average of 8.82 million, according to IBES data from Refinitiv…
“We have a big headstart in streaming and will work to build on that by focusing on the same thing we have focused on for the past 22 years – pleasing members. We believe if we do that well, Netflix will continue to prosper. As an example, in Q4, despite the big debut of Disney+ and the launch of Apple TV+, our viewing per membership grew both globally and in the US on a year over year basis, consistent with recent quarters,” the company wrote in a letter to investors…
The addition of new streaming platforms – taking more out of a household’s monthly entertainment budget – has also made it harder for Netflix to raise prices, as it did in the United States last year. Free, advertising-supported services such as Peacock and ViacomCBS-owned Pluto TV may also limit Netflix’s pricing power, according to research from Citigroup.
MacDailyNews Take: As usual, competition is working its magic yet again.
Apple TV+ is available on the Apple TV app on iPhone, iPad, Apple TV, iPod touch, Mac, select Samsung smart TVs, Amazon Fire TV and Roku devices, as well as at
Netflix, having invented the category and holding nearly 100% of the customers until recently, can only lose as competitors enter the market. Especially competitors who own the content Netflix has been licensing. That’s not an indicator of failure, it’s just math.
Netflix deserves high praise for creating the industry.
Um, D’UH!
Lower priced services with 4K content included at no premium ?
Pay attention Netflix, its only downhill from here.