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