Netflix says it doesn't expect Apple TV+ or Disney+ to 'materially affect' income
Netflix on Tuesday said that it doesn't see much threat from two upcoming competitors, Apple TV+ and Disney+, each launching towards the end of 2019.
"Both companies are world class consumer brands and we're excited to compete," Netflix wrote in a first-quarter earnings report, highlighting revenues up 22.2 percent year-over-year at $4.5 billion. Studios and viewers, it said, will "reap the rewards of many companies vying to provide a great video experience for audiences."
Neither of the new rivals will "materially affect our growth," Netflix added. The on-demand market has room for multiple companies, it argued, and Netflix's content is sufficiently unique.
Netflix was the first to popularize on-demand video streaming and is now available in over 190 countries, the only major exception being China. Many of its TV shows have become cultural institutions.
Disney+, launching Nov. 12, will cost just $6.99 per month or $69.99 per year, with titles from the likes of Marvel, Pixar and Lucasfilm. At least some of these are disappearing from the Netflix catalog or were never there in the first place — to the anger of fans, Disney+ has also resulted in the cancellation of Marvel Netflix shows like "Daredevil" and "The Punisher."