Netflix Reveals their Biggest Rival in the Digital Streaming Industry
As more and more people and business analysts expressing their concern over Netflix’s declining of loyal subscribers, the company says everyone is fuzzing over a wrong thing. According to the giant digital streaming company, their biggest threat to this industry isn’t Amazon or Disney, but it’s Fortnite.
While the launching Disney’s streaming video services may pose competition to Netflix, along with other existing competitors like Amazon or HBO, Netflix says they aren’t worried too much about it.
According to the letter they sent to their shareholders, the company says they hold more than 10% of the country’s television screen time, not to mention their customers in the international community. Their latest phenomenal hit series Bird Box generated a staggering 80 million views while the thrilling movie “You” generated more than 40 million views worldwide.
Despite this tremendous success, Netflix reveals they’re looking out the rise of new forms of entertainment like Fortnite and Google’s YouTube as their strong competitors. Netflix explains they are facing a challenge on how they can improve their customer’s experience to retain their subscribers.
They also admitted how the company was competing (and losing) to Fortnite compared to HBO. They also noted YouTube’s enormous influence worldwide. For instance, when the YouTube server was down for only a couple of minutes sometime last October 2018, Netflix’s signup and viewing rate spiked up tremendously. The management is actively looking for ways to recreate that spike in signup and viewing process.
The Rising Statistics
Meanwhile, Netflix’s CEO Reed Hasting revealed the company’s earnings beat their projected estimation, despite the public’s excitement over the launch of their video streaming service. Since they’ve been competing broadly with against these streaming providers intensively, Hastings says one more provider entering the industry won’t make much difference when it comes on the margin. Netflix also explains how they come up and yield the 10% screen time statistics from their data report.
According to the report they conducted, Netflix subscribers spend a staggering total of 100 million hours every day, even going as far as spending 1 billion hours every day if they all watch TV the whole day.
He adds the 10% statistics highlights Netflix’s tremendous success, especially since Hastings revealed how Netflix didn’t stream through TVs at all. Most of their subscribers tend to stream online through their PCs and laptops before. Thanks to the rise of smart TVs as well as connected devices like Comcast X1, Apple TV, and Roku, it paved a way to the success of Netflix.
To counter the looming threat of Fortnite and Youtube, Netflix pushes their goal of becoming a provider of all forms of entertainment by investing in entertainment devices. According to Hastings, these future innovative devices will give their subscribers the freedom to choose their entertainment options.
Aside from that, Netflix has had a great comeback since the second half of 2018 as they announced their plan to produce original content. This includes the critically-acclaimed 13 Reasons Why, the coveted movie Bird Box which sat the internet abuzz, and their latest thrilling movie, You.
This year 2019, Netflix shocked the world as they announced the upcoming series and movies they’ll have. Among them is Leigh Bardugo’s best-selling Shadow and Bone series as well as other Grishaverse books like the famous duology, Six of Crows, Crooked Kingdom, and her upcoming book King of Scars. A Series of Unfortunate Events also returns to Netflix for Season 3. George RR Martin’s fans all over the world are also excited to watch see the adaptation of the sci-fi horror movie Nightflyers. The fans can also anticipate the return of Stranger Things, Black Mirror, and Glow Season 3.
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