Although promising their investors a new 600,000 subscribers, Netflix was only able to land about 420,000, and it may have been something to with Disney+. Netflix used to have a hard time before directing its company towards online streaming, and although they have already dominated the market and stood up against competitors like HBO, Disney+'s release of the Mandalorian was an unexpected success for Netflix.
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The streaming wars with Netflix
Although a statement was released by Netflix executives for years saying, "There's plenty of room for everyone." We all know that this is still a steep competition and although some people may subscribe to several streaming platforms like Netflix, HBO, and Disney+ all at once, not a lot of people would prefer to do that. Netflix is feeling the heat of competition as it has already told Wall Street their expected number to hit, but sadly, they missed.
Competition is getting steep like with Disney+
Disney has always been a solid company since anyone can remember, but it was focused more on movies than actual streaming services. When they announced their new streaming services in November of 2019, they were met with an unexpected 10 million sign-ups in a single day! A successful introduction for Disney+ not just to the market but also to their competition.
Global reach of Netflix still proves them to be the best
Aside from the U.S. numbers, Netflix is still pretty much loved elsewhere in the world, generating another 8.3 million subscribers when they only expected seven million. This is the main fact that keep the investors who are eager to jump ship when the waves get rocky at any moment calm and relaxed about the competition.
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Future threats to Netflix are on their way
Netflix may have had the upper hand by being the first in this industry, but what would happen when competition from all around start rising? HBO Max and NBC's Peacock are set to launch later this spring, which puts Netflix at a fight mode. The companies Netflix is competing with have been in the film industry way before Netflix.
The Mandalorian versus The Witcher
Two very hot topics of 2019 were these two series, and although The Witcher still won in numbers, it was still a shockingly close competition between both series. Baby Yoda came out of nowhere and was able to gather almost the same attention as The Witcher, which puts the studios back to the lab to work harder on producing better quality series and movies.
Although competition has stepped in the U.S., Netflix is still focusing on its platform to expand globally, and that could keep them above their competition. Netflix Still holds a very powerful influence globally as they also stream local shows from other countries. Disney+ has yet to catch up to Netflix regarding the ground covered by Netflix for starting early. Big players are coming, and Netflix has to move fast.
