Netflix shares fell as much as 7% Friday to a nine-month low, coming after CEO Reed Hastings commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new …
commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new world” of competition.Friday in Cambridge, England, said, “While we’ve been competing with many people in the last decade, it’s a whole new world starting in November… between Apple launching and Disney launching, and of course Amazon’s ramping up.”chief also cited NBCUniversal’s Peacock streaming service, slated to debut in April 2020. “It’ll be tough competition,” Hastings said.
“The competition for winning consumers’ relaxation time is fierce for all companies and great for consumers,” the company told investors in July in its. At the same time, the company said in the U.S., customers spend only about 10% of their TV-viewing time on Netflix “and less of their mobile screen time, so we have much room for growth.”
“We do not believe the launch of additional SVOD services will cause existing Netflix subs to cancel, or future Netflix subs to not materialize,” Juenger wrote, reiterating an “outperform” rating on the stock. He argued that the expectation new entrants will take market share from Netflix rests on an unfounded assumption that the services will compete with each other “for a fixed number of potential subscribers.”in over 100 countries and regions, priced at $4.
In the first year of launch, Disney Plus will include 7,500 episodes of current and past TV shows and 500 movies, according to Disney. Also in Year One, it’s set to debut more than 25 original shows, including Jon Favreau’s live-action Star Wars series “The Mandalorian,” and 10 original films and documentaries.
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